Difference between revisions of "Colorado Commissioner of Insurance"

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|Current officeholder =Marguerite Salazar
 
|Current officeholder =Marguerite Salazar
 
|Partisan =
 
|Partisan =
|Officeholder image =  
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|Officeholder image = Marguerite Salazar.jpg
 
|Assumed office =  August 19, 2013
 
|Assumed office =  August 19, 2013
 
|Compensation = 120,000
 
|Compensation = 120,000

Revision as of 15:20, 2 January 2014

Colorado Commissioner of Insurance
General information
Office Type:  Non-partisan
Office website:  Official Link
2012-2013 FY Budget:  $7,336,754
Term limits:  None
Structure
Length of term:   Serves at the pleasure of the governor
Authority:  Article IV, Section 23
Selection Method:  Appointed
Current Officeholder

Marguerite Salazar.jpg
Name:  Marguerite Salazar
Assumed office:  August 19, 2013
Compensation:  $120,000
Other Colorado Executive Offices
GovernorLieutenant GovernorSecretary of StateAttorney GeneralTreasurerControllerCommissioner of EducationAgriculture CommissionerInsurance CommissionerNatural Resources Exec. DirectorLabor Executive DirectorPublic Utilities Commission
The Colorado Commissioner of Insurance is a state executive position in the Colorado state government. The commissioner heads the Colorado Division of Insurance, a part of the state's Department of Regulatory Agencies. The division regulates the state's insurance industries, deals with customer complaints against insurers and provides other customer services.[1]

Current officeholder

The current commissioner is Marguerite Salazar. She was appointed by Governor John Hickenlooper, in July 2013 and assumed office on August 19 of that year. Salazar replaced former commissioner Jim Riesberg, who resigned after two years in the position. Since the commissioner serves at the governor's pleasure, Salazar is not subject to reappointment until a new governor is elected.[2]

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

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

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

Colorado state government organizational chart

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

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]

State budget

The budget for the Colorado Division of Insurance in the 2012-2013 Fiscal Year was $7,336,754.[5]

Compensation

In 2011, the commissioner of insurance received compensation in the amount of $120,000.[6] The commissioner's compensation is fixed by law.

Historical officeholders

Note: Ballotpedia's state executive officials project researches state official websites for chronological lists of historical officeholders. That information for the Colorado Commissioner of Insurance has not yet been added because the information was unavailable on the relevant state official websites, or we are currently in the process of formatting the list for this office. If you have any additional information about this office for inclusion on this section and/or page, please email us.

Recent news

This section displays the most recent stories in a google news search for the term Colorado + Insurance + Commissioner + Riesberg

All stories may not be relevant to this page due to the nature of the search engine.

Colorado Commissioner of Insurance News Feed

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Contact info

Address:
1560 Broadway, Suite 850
Denver, CO 80202
Phone: (303) 894-7499
Fax: (303) 894-7455

See also

External links

References