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Supreme Court Issues Two Opinions Under Colorado’s Unreasonable Delay/Denial Statute

On May 29, 2018, in two separate rulings, the Colorado Supreme Court issued opinions interpreting and applying C.R.S. §§ 10-3-1115/1116, Colorado statutes that provide a private right of action against an insurer for unreasonable delay or denial of insurance benefits. In these opinions, the Supreme Court held that claims under the statute are not subject to a one-year statute of limitations applicable to penalties and that insureds are entitled to recover two times the covered insurance benefit in addition to the covered benefit, for a total of three times the covered benefit.

New Colorado Supreme Court Opinion Affirms Fisher v. State Farm Mut. Auto. Ins. Co.

The Colorado Supreme Court affirmed the Court of Appeals Opinion in Fisher v. State Farm Mut. Auto. Ins. Co., holding, in the context of an Underinsured Motorist claim, that an insurer could be liable for treble damages under C.R.S. § 10-3-1115 if it refuses to pay a covered benefit that is not in dispute, even though the payment would not settle the entire claim.

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Supreme Court Issues Two Opinions Under Colorado’s Unreasonable Delay/Denial Statute

On May 29, 2018, in two separate rulings, the Colorado Supreme Court issued opinions interpreting and applying C.R.S. §§ 10-3-1115/1116, Colorado statutes that provide a private right of action against an insurer for unreasonable delay or denial of insurance benefits. In these opinions, the Supreme Court held that claims under the statute are not subject to a one-year statute of limitations applicable to penalties and that insureds are entitled to recover two times the covered insurance benefit in addition to the covered benefit, for a total of three times the covered benefit.

New Colorado Supreme Court Opinion Affirms Fisher v. State Farm Mut. Auto. Ins. Co.

The Colorado Supreme Court affirmed the Court of Appeals Opinion in Fisher v. State Farm Mut. Auto. Ins. Co., holding, in the context of an Underinsured Motorist claim, that an insurer could be liable for treble damages under C.R.S. § 10-3-1115 if it refuses to pay a covered benefit that is not in dispute, even though the payment would not settle the entire claim.

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