What information must an insurance company provide to a consumer upon denial of a claim in Colorado?

In Colorado, when an insurance company denies a claim, it is required to provide a written explanation detailing the reasons for the denial, along with information on how the consumer can appeal the decision. This requirement ensures that consumers have a clear understanding of why their claim was denied, which is essential for transparency and fairness in the claims process. By including information on how to appeal, the insurance company also helps consumers understand their rights and the steps they can take to contest the denial. This fosters accountability and encourages insurers to communicate effectively with their policyholders, ultimately supporting a more equitable insurance environment.

The other options do not meet the regulatory requirements set forth in Colorado law, as they fail to provide the necessary details or support for the consumer in the event of a claim denial.