Colorado Commissioner of Insurance
| Colorado Commissioner of Insurance | |
 | |
| General information | |
| Office Type: | Non-partisan |
| Office website: | Official Link |
| Term limits: | None |
| Structure | |
| Length of term: | Serves at the pleasure of the governor |
| Authority: | Article IV, Section 23 |
| Selection Method: | Appointed |
| Current Officeholder | |
 | |
| Name: | Jim Riesberg |
| Assumed office: | June 27, 2011 |
| Compensation: | $120,000 |
| Other Colorado Executive Offices | |
| Governor • Lieutenant Governor • Secretary of State • Attorney General • Treasurer • Controller • Commissioner of Education • Agriculture Commissioner • Insurance Commissioner • Natural Resources Exec. Director • Labor Executive Director • Public Utilities Commission | |
Contents |
Current officeholder
The current commissioner is Jim Riesberg, who was first appointed on June 27, 2011 by recently elected Governor John Hickenlooper. As the commissioner serves at the governor's pleasure, Riesberg is not subject to reappointment until a new governor is elected.
Before becoming commissioner, Riesberg was a member of the Colorado House of Representatives, having represented District 50 from 2004 to 2011. Before entering public service, he for 24 years at "various insurance and human resource companies, including Allstate Insurance Co. and Hearth Company Real Estate and Insurance."[2] He has also had 16 years of experience in nonprofits specializing in aging, hunger and housing issues.
Riesberg holds a B.A. in History and Economics and an M.A. in Gerontology from the University of Northern Colorado. He and his wife, Sharron, have two children.
Authority
Article IV, Section 23 of the Colorado Constitution establishes the commissioner as head of the division of insurance.
Colorado Constitution, Article IV, Section 23
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The governor shall nominate and, by and with the consent of the senate, appoint the commissioner of insurance to serve at his pleasure, and the state personnel system shall not extend to the commissioner of insurance. |
Qualifications
State law requires that the commissioner be "a person well versed in insurance," an elector in the state of Colorado (i.e. a resident of the state, at least 18 years old), and that he have no financial interest in any insurance company.
Colorado Revised Statutes, Section 10-1-104
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The commissioner shall be a person well versed in insurance, and an elector of the state of Colorado, and shall have no pecuniary interest in any insurance company or agency directly or indirectly other than as a policyholder. |
Appointments
The commissioner is appointed by the governor and must be confirmed by a majority vote of the state senate. He serves at the governor's pleasure, not for a fixed term.
Colorado Revised Statutes, Section 10-1-104
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The commissioner shall be a person well versed in insurance, and an elector of the state of Colorado, and shall have no pecuniary interest in any insurance company or agency directly or indirectly other than as a policyholder. |
Term limits
The commissioner of insurance does not face term limits.
Vacancies
There is no particular procedure for dealing with vacancies in the office of commissioner.
Duties
The Division of Insurance, which the commissioner oversees, is charged with regulating the state's insurance industries and resolving consumer complaints against insurance companies. The division approves all rate increases, inspects the financial statements of insurance companies, deals with consumer complaints and provides information consumer on various insurance topics. The division seeks to "promote access to affordable insurance that allows for adequate consumer choice," and "promote and preserve a sound, competitive insurance marketplace..."[3]
Divisions
- Compliance and Investigations
- Consumer Affairs, L&H
- Consumer Affairs, P&C
- Actuarial
- Market Regulation
- Corporate Affairs and Premium Taxes
- Financial Affairs
- Financial Examinations
- Office Management
- Market Regulation
- Rates and Forms[4]
Compensation
In 2011, the commissioner of insurance received compensation in the amount of $120,000.[5] The commissioner's compensation is fixed by law.
Contact info
Address:
1560 Broadway, Suite 850
Denver, CO 80202
Phone: (303) 894-7499
Fax: (303) 894-7455
See also
External links
References
- ↑ Colorado Department of Regulatory Agencies, "Division of Insurance," accessed January 23, 2013
- ↑ Colorado Division of Insurance, "About the Commissioner," accessed July 21, 2011.
- ↑ Colorado Division of Insurance, "About the Division," accessed July 21, 2011.
- ↑ Division of Insurance, "Organizational Chart," accessed July 21, 2011.
- ↑ The Council of State Governments, "Book of the States 2010 -- Table 4.11," accessed July 21, 2011.
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