Yesterday International Fidelity and Allegheny Casualty sponsored a DOI Compliance Training Class hosted by the Professional Bail Agents of Colorado. With almost 70 agents in attendance from all parts of Colorado, the bail industry was extremely well represented. With all the changes and activities over the past several months, bail agents have increasingly shown a desire to want to better understand current regulations and work with the Department of Insurance to ensure that bail is done the right way in Colorado.
Paula Sisneros, Director of Compliance and Investigations at the Colorado Division of Insurance, taught the compliance training class. Ms. Sisneros’ session included a review of all of the Colorado Statutes that pertain to bail and licensed insurance producers. During her presentation, she took the time to compliment the bail agents in attendance on how hard they work. As you can imagine, this comment of recognition and appreciation from the DOI was met with a round of applause from the audience.
Also present was Bryan Jameson, Policy Analyst for the Sunset Review. Mr. Jameson explained the purpose of the upcoming review to the group and outlined its overall objectives, which is to look at existing legislation, identify challenges and issues that potentially make compliance difficult, and make recommendations for improvement. He welcomed agents to contact him directly to inform him of statutes that they believe may be problematic along with a detailed explanation as to why they believe so. Mr. Jameson made it a point during his presentation to comment on how involved International Fidelity and Allegheny Casualty have been in working with him and the Colorado Division of Insurance in the Sunset Review process.
This is an important time for our industry and it is more essential than ever that bail agents and insurance companies continue to work together with the Division to shape the long term future of bail in Colorado.
