In 1988, the Colorado General Assembly enacted a law requiring all Colorado licensed physicians and all applicants for Colorado medical licensure to maintain certain amounts of malpractice insurance coverage (reference Sections 13-64-301 through 304, C.R.S.). On and after January 1, 1990, each Colorado licensed physician must maintain commercial professional liability insurance coverage with an insurance company authorized to do business in Colorado. Effective July 1, 2010, the law requires a minimum indemnity amount of $1,000,000 per incident and $3,000,000 annual aggregate per year or an acceptable alternative as set forth in Board Rule 220.
Colorado Insurance Requirements for Licensure
- If you have malpractice insurance coverage valid in the State of Colorado at the time you submit your application, instruct your insurance carrier or Colorado postgraduate training program to submit an original statement directly to the Board office indicating the policy number, dates of coverage, amounts of coverage, and (for insurance companies outside of Colorado), a statement affirming that the coverage is effective while you practice in Colorado.
- If you do not have the required malpractice coverage at the time of application and you meet one of the exemption categories set forth in Rule 220, you must provide a signed statement to the Board claiming one of the specific exemptions set forth in the attached rule. (Example: "I currently reside outside of Colorado and claim exemption "d" set forth in the attached rule. I understand that before I engage in any medical practice in Colorado, I must obtain the required insurance or an acceptable equivalent.")
- If you do not have the required insurance coverage, and if you do not meet one of the exemption categories set forth in Rule 220, you must obtain insurance coverage before your application will be considered complete and submitted to the Board for review. Under our law, it is not sufficient for you merely to advise the Board that you will obtain insurance following the issuance of your license.