State RegulationsCO specificDifficulty 1/5
Under C.R.S. § 10-1-128, every insurer licensed in Colorado must maintain:
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
C.R.S. § 10-1-128 requires every licensed insurer to maintain an insurance anti-fraud plan with capacities to prevent, detect, and investigate fraud, to educate employees and investigators, and to report fraud to law enforcement; Colorado Insurance Regulation 6-5-1 implements the statutory framework. The obligation rests on the insurer's own plan, not on state staffing, bonds, or public disclosure.
Why the other options are wrong
- A) The statute requires the insurer's own plan and reporting to law enforcement, not a state-staffed unit inside the company.
- C) Fraud bonds for policyholders are not part of the anti-fraud statute.
- D) Anti-fraud plans are proprietary rather than public databases of referrals.
Memory hook
Every insurer needs a fraud playbook: prevent, detect, investigate, educate, report.