Insurers are required to notify the commissioner of a producer's employment termination within how many days?

Insurers in Colorado are required to notify the commissioner of a producer's employment termination within 30 days. This regulation ensures that the commissioner is kept informed about the status of insurance producers, which is crucial for maintaining oversight of the insurance industry and protecting consumers. Prompt notification helps prevent any potential misuse of licenses and reinforces accountability within the industry. The 30-day timeframe allows for timely updates while providing a reasonable period for insurers to process the termination. This regulation reflects the standard practices regarding oversight and regulation of insurance producers to ensure compliance with state laws.