August 26th, 2020

Colorado Auto Dealer Bonds Just Got Even Less Risky

We have uploaded a blog post to Suretypedia, a wiki based site that contains valuable information for insurance agents seeking to learn more about bonds. The article details the effects that new legislation passed in Colorado will have on consumers’ ability to recover losses/damages from motor or powersport vehicle dealers. The law will go into effect on September 30th, 2020, and states that consumers must prove fraud in a court of law to receive compensation. Read the full article on Suretypedia to receive a detailed analysis on what these changes mean for your customers.

Below is a snippet from the article. Login today to quote this bond for your Colorado customers.

“Surety companies should benefit from these changes in the law because it will now be harder and less cost efficient for claims to be filed against vehicle dealers. Two key effects of the new legislation make filing claims much more difficult and fruitful for claimants and the attorneys that represent them…” (Continue Reading)