Increase Access Homeowner's Insurance Enterprise
SB155 creates the Strengthen Colorado Homes Enterprise within the Division of Insurance to increase the availability of homeowner’s insurance in Colorado by reducing insurer losses from hail, wind, and wildfire-related damage. The enterprise would collect a fee from insurers that offer multiperil homeowner’s policies, beginning in 2027, and use the revenue to fund grants for homeowners to retrofit or harden roofs and other residential property with resilient roof systems. The bill also authorizes the enterprise to analyze hail-loss data, set standards for resilient roof systems, support contractor training and certification, and establish conduct standards for roofing contractors.
The bill also directs the enterprise to conduct a separate study of insurance risk in high-risk wildfire areas, including market competition, potential losses, and the effects of a high-risk insurance program on availability of coverage. In addition, it requires insurers to file annual information with the Division of Insurance about resilient roofs, discounts, and wind-and-hail claims experience, which would give regulators and policymakers more data on how mitigation affects premiums and losses.
The bill adds a new part to Colorado insurance law creating a government-owned enterprise with fee authority, grant-making power, bond authority, reporting duties, and rulemaking authority. It also amends existing insurance filing requirements to require annual reporting on resilient roof systems and related claims data. The measure appropriates funds for legal services to support implementation. Affected parties include homeowner’s insurers, Colorado homeowners seeking roof-hardening grants, roofing contractors, and the Division of Insurance, which would administer or oversee parts of the program.
The voting history suggests overall support for the bill, but not unanimous support. Several Senate Finance amendments were adopted unanimously, and the bill advanced out of Senate Finance and Senate Appropriations before receiving a 21-12 third-reading vote in the Senate. That pattern indicates the concept had meaningful backing, while still drawing a notable minority of opposition. The available record does not include committee testimony, so the sentiment can be inferred mainly from the votes and the bill’s framing as an insurance-affordability and resilience measure.
The main points of contention appear to be the new fee on insurers, the size and structure of the enterprise, and whether the program should be funded through insurer assessments rather than general tax revenue. Critics are likely to focus on the cost burden on insurers, the prohibition on surcharging policyholders, and the bill’s use of a quasi-governmental enterprise to collect and spend funds. Supporters appear to emphasize consumer protection, improved insurance availability, reduced claims, and long-term market stability through home hardening and wildfire-risk analysis. The split votes in committee and on the floor suggest disagreement over the policy approach even among lawmakers who may share concern about rising homeowner’s insurance costs.