Title XXV, Business and Financial Institutions

The commissioner shall make or may approve and adopt reasonable rules and regulations, consistent with this subtitle, for any and all of the following purposes: (1) Effectuation of the Surplus Lines Law; and (2) Establishment of procedures through which determination is to be mad…

Catchline at repeal: Highway policies; contersignature requirement; agent's commission; penalty.

Catchline at repeal: Agent and countersignature requirements; exceptions.

Catchline at repeal: Annual statement; penalty for noncompliance.

KRS 304.11-020 to 304.11-050, inclusive, constitute and may be cited as the "Kentucky Unauthorized Insurer's Law."

(1) Other than KRS 304.11-050, the provisions of KRS 304.11-020 to 304.11-050, shall not apply to any insurance company or underwriter issuing contracts of insurance to industrial insureds, government entity insureds, and exempt commercial policyholders, nor to any contract of in…

- Liability of person acting as agent -- Commissioner's power to enjoin. (1) It shall be unlawful for any company to enter into a contract of insurance as an insurer or to transact insurance business in this state, as set forth in subsection (2) of this section without a certific…

business in Kentucky -- Requirements for defense of action -- Reports to commissioner required. (1) No person or insurer shall directly or indirectly perform any of the acts of doing an insurance business as defined in KRS 304.11-020 to 304.11-050, inclusive, except as provided b…

insurer or client for placement of insurance and service rendered to client. (1) As used in this section, unless the context requires otherwise: (a) 1. "Agent" means an agent as defined in KRS 304.9-020; 2. "Agent" does not include the following: a. A managing general agent; b. A…

(1) The purpose of this section is to give Kentucky jurisdiction over providers of health care benefits; to indicate how each provider of health care benefits may show under what jurisdiction it falls; to allow for examination by Kentucky if the provider of health care benefits i…

(1) Effective with all premiums collected during the calendar year 1968, except premiums on lawfully procured surplus lines insurance, every unauthorized insurer shall pay to the secretary of revenue before March 1, next succeeding the calendar year in which the insurance was so …

Catchline at repeal: Retaliatory provision, domicile of alien insurer.

Catchline at repeal: Companies controlled by governmental agencies.

No person shall engage in this state in any practice which is prohibited in this subtitle, or which is defined therein as, or determined pursuant thereto to be, an unfair method of competition or any unfair or deceptive act or practice in the business of insurance.

(1) The purpose of this section is to prohibit unfair or deceptive practices in the transaction of life and health insurance with respect to the human immunodeficiency virus infection and related matters. This section applies to all life and health insurance contracts which are d…

Catchline at repeal: Unfair methods of competition, unfair or deceptive acts or practices enumerated - Application of section.

No person shall make or disseminate orally or in other manner any advertisement, information, matter, statement, or thing: (1) Misrepresenting the terms of any policy or the benefits or advantages thereof or dividends or share of surplus to be received thereon, or setting forth f…

(1) As used in this section: (a) "Replacement" means any transaction in which a new life insurance policy or annuity contract is to be purchased and it is known or should be known to the proposing producer, or to the proposing insurer if there is no producer, that by reason of th…

(1) As used in this section, "retained asset account" means any mechanism whereby the settlement of proceeds payable under a life insurance policy, including but not limited to the payment of cash surrender value, is accomplished by the insurer or an entity acting on behalf of th…

(1) No person shall file with any public official or make or disseminate any false statement of financial condition of any insurer with intent to deceive. (2) No person shall make any false entry in any record, report or statement of any insurer or other person required to have r…

Any advertisement or other dissemination of information by or on behalf of an insurer stating the insurer's assets shall in the same connection and with equal conspicuousness, state the insurer's liabilities, computed on the same basis. Any such statement purporting to show the i…

No person shall make, publish, disseminate or circulate directly or indirectly, or aid, abet or encourage the making, publishing, disseminating or circulating of any oral or written statement or any pamphlet, circular, article or literature which is false, or maliciously critical…

No person shall enter into any agreement to commit, or by any concerted action commit, any act of boycott, coercion or intimidation resulting in or tending to result in unreasonable restraint of, or monopoly in, the business of insurance.

(1) No insurer, other than a life insurer or health insurer, shall make or permit any unfair discrimination in favor of particular persons, or between insureds or subjects of insurance having substantially like insuring risk, and exposure factors, or expense elements, in the term…

sex prohibited -- Genetic tests. (1) No person shall, whether acting for himself or another in connection with an insurance transaction, fail or refuse to issue or renew insurance to any person because of race, color, religion, national origin, or sex except that rates determined…

(1) As used in this section: (a) "Insurance coverage" means coverage under a disability insurance, life insurance, or long-term care insurance policy; and (b) "Living donor" means an individual who: 1. Has donated all or part of an organ; and 2. Is not deceased. (2) Notwithstandi…

(1) No insurer or employee or representative thereof shall knowingly charge, demand, or receive a premium for any insurance policy except in accordance with the applicable filing on file with the commissioner. No such insurer, employee, or representative shall pay, allow, or give…

Notwithstanding any other provision of this chapter: (1) Except as provided in subsections (2) and (3) of this section, an insurer, by or through its employees, affiliates, or third-party representatives, or an insurance producer, as defined in KRS 304.9-020, may: (a) In connecti…

Nothing in KRS 304.12-080, 304.12-090, or 304.12-110 shall be construed as prohibiting: (1) Payment of lawfully earned commission or other lawful compensation to duly licensed insurance producers, as defined in KRS 304.9-020, or compensation disclosed in a written disclosure agre…

No insurer, insurance producer as defined in KRS 304.9-020, or other person shall, as an inducement to insurance, or in connection with any insurance transaction, provide in any policy for, or offer, sell, buy, or offer or promise to buy, sell, give, promise, or allow to the insu…

concerning consumer goods or related services. (1) For purposes of this section, "free insurance" means: (a) Insurance for which no identifiable or additional charge is made to the purchaser or lessee of such consumer goods or services directly or indirectly connected with consum…

(1) If, after a hearing conducted in accordance with KRS Chapter 13B, the commissioner finds that any person in this state has engaged or is engaging in any act or practice defined in or prohibited under this subtitle, the commissioner shall order the person to desist from the ac…

(1) If the commissioner believes that any person engaged in the insurance business is engaging in this state in any method of competition or in any act or practice in the conduct of such business which is not defined in this subtitle but that such method of competition is unfair,…

(1) No person engaged in the business of financing the purchase of real or personal property or of lending money on the security of real or personal property shall require, as a condition to financing or lending, or varying the terms and conditions of the financing or lending, or…

Every debtor, borrower, or purchaser of property with respect to which insurance of any kind is required in connection with a debt or loan on the property shall be informed by the creditor or lender of his or her right of free choice in the selection of the agent and insurer thro…

loans prohibited. No person who makes a loan on real or personal property shall in connection with such a transaction make any separate charge or require a fee or payment of any money for the substitution by a borrower or a mortgagor or a purchaser of one insurance policy on the …

Catchline at repeal: Using insurance information to detriment of another.

(1) Any insurer may retain, invest in or acquire the whole or any part of the capital stock of any other insurer or insurers, or have a common management with any other insurer or insurers, unless such retention, investment, acquisition or common management is inconsistent with a…

(1) No person shall willfully collect any sum as premium or charge for insurance, which insurance is not then provided or is not in due course to be provided (subject to acceptance of the risk by the insurer) by an insurance policy issued by an insurer as authorized by this code.…

No person who is not an insurer shall assume or use any name which deceptively infers or suggests that it is an insurer.

Catchline at repeal: Discrimination in property, casualty or surety policies on group basis prohibited.

of coverage. (1) As used in this section, unless the context requires otherwise: (a) "Casualty insurance" has the meaning set forth in KRS 304.5-070; (b) "Domestic violence and abuse" has the meaning set forth in KRS 403.720; (c) "Innocent co-insured" means an individual who did …

(1) Unfair discrimination against individuals on the basis of blindness or partial blindness is prohibited. (2) For the purposes of this section, unfair discrimination against individuals on the basis of blindness or partial blindness consists of refusing to insure, refusing to c…

For the purpose of KRS 304.12-230, "person" shall not mean an insured.

It is an unfair claims settlement practice for any person to commit or perform any of the following acts or omissions: (1) Misrepresenting pertinent facts or insurance policy provisions relating to coverages at issue; (2) Failing to acknowledge and act reasonably promptly upon co…

(1) All claims arising under the terms of any contract of insurance shall be paid to the named insured person or health care provider not more than thirty (30) days from the date upon which notice and proof of claim, in the substance and form required by the terms of the policy, …

(1) As used in this section: (a) "Insurer": 1. Means any insurer, self-insurer, self-insured plan, or self-insured group; and 2. Shall include any health maintenance organization, provider-sponsored integrated health delivery network, or nonprofit hospital, medical- surgical, den…

funds are used for preneed funeral contracts or prearrangements. (1) As used in this section, unless the context requires otherwise: (a) "Preneed funeral contract or prearrangement" means an agreement by or for an individual before that individual's death relating to the purchase…

practice for health insurance policies. (1) It shall be an unfair or deceptive trade practice for a health insurance policy to exclude coverage for a health condition based solely on the fact that the health condition is work-related, unless the claimant is eligible for benefits …

deceptive trade practice for health insurer or administrator. It shall be an unfair or deceptive trade practice for any health insurer or administrator as defined under KRS Chapter 304 to refuse to provide information requested by the Department for Medicaid Services under KRS 20…