DENVER (KDVR) – A bill introduced in the Colorado Senate in mid-March has cleared another hurdle and is now one step closer to providing more protection to insurance-having victims of wildfires.

During the Senate Business, Labor, and Technology committee meeting held Monday afternoon, HB22-1111 was unanimously voted through. Its main focus: Ensure consumers’ claims are paid in a timely manner.

The bipartisan bill, co-sponsored by Senate President Steve Fenberg, Sen. Bob Ranklin and Rep. Judy Amabile, would elevate the percentage of property an insurance company is required to reimburse for an insured customer who lost property as the result of a natural disaster.

Currently, insurance companies are required to pay insured victims of disasters 30% of the total value of property lost, upfront. If passed, HB22-1111 would elevate that percentage to 65%.

“As we work to build more resilient communities in anticipation of future disasters, we must update our insurance policies to make these systems easier to navigate,” said Fenberg. “By eliminating barriers to insurance claims and extending the time to rebuild, we are providing Coloradans affected by wildfires with the support they deserve.” 

The bill now moves onto the Appropriations Committee for another vote.