Title XXV, Business and Financial Institutions

from dishonest and predatory insurance sales practices. The commissioner shall have the authority to promulgate regulations to protect service members of the United States Armed Forces from dishonest and predatory insurance sales practices by declaring certain identified practice…

school's posting of Ten Commandments. Because the posting of the Ten Commandments in a public school building is a lawful posting of a historical document under KRS 158.195, no liability insurer shall refuse to pay under the terms of the policy an insured who is sued for posting …

under automobile insurance policy. In connection with rental reimbursement coverage under an automobile insurance policy, an insurer, an employee or representative of an insurer, an agent of an insurer, a consultant, or an insurance adjuster shall not: (1) Solicit or accept a ref…

vehicle to include notice of right to choose -- Exemption. (1) An insurer shall inform a claimant upon notification of a motor vehicle damage claim that he or she has the right to choose the repair facility of his or her choice to repair a damaged vehicle. (2) After July 12, 2012…

Catchline at repeal: Scope of KRS 304.120 to 304.144.

Catchline at repeal: Incorporation; requirements.

Catchline at repeal: Procedures preliminary to qualification.

Catchline at repeal: Qualification of newly organized stock insurer.

Catchline at repeal: Place of business.

Catchline at repeal: Annual meeting.

Catchline at repeal: Qualifications of directors.

As used in this subtitle, unless the context requires otherwise: (1) A "market" is the interaction between buyers and sellers consisting of a product market component and a geographic market component. A product market component consists of identical or readily substitutable prod…

KRS 304.13-011 to 304.13-161 apply to all types of insurance written on risks in this state by any insurer authorized under this chapter to do business in this state, except: (1) Life insurance; (2) Annuities; (3) Wet marine and transportation insurance; (4) Accident and health i…

(1) In a noncompetitive market, rates shall be made in accordance with the following provisions: (a) Manual, minimum, class rates, rating schedules or rating plans, shall be made and adopted, except in the case of specific inland marine rates on risks specially rated; (b) Rates s…

(1) A competitive market for any line of insurance is presumed to exist unless the commissioner, after a hearing, determines that a reasonable degree of competition does not exist in the market for such line and issues an order to that effect. Such an order shall expire no later …

(1) In a competitive market, every insurer shall file with the commissioner rates and supplementary information to be used in this state for commercial risks as designated by the commissioner and for all personal risks. The rates and supplementary rate information shall be filed …

(1) Unless the commissioner enters an order pursuant to KRS 304.13-041 declaring workers' compensation to be a noncompetitive market, rates filed for use after December 31, 1998, shall be filed pursuant to KRS 304.13-051(1). (2) Notwithstanding the provisions of KRS 304.13-051 to…

With respect to any filing which, if approved, would result in a reduction of rates, the commissioner shall immediately order the proposed rates to be effective. If upon the commissioner's review of the filing or as a result of a public hearing it appears that the proposed rates …

(1) Every insurer shall provide to the commissioner information to demonstrate to what extent the insurer's rates are based upon its Kentucky experience. (2) Every insurer shall provide to the commissioner information to demonstrate its compliance with the requirements contained …

Notwithstanding any provision of this chapter or any other chapter of the Kentucky Revised Statutes or any rating manual or rule to the contrary, no workers' compensation rate increases shall be applied retroactively, but rather shall be applied only to policies with inception or…

on recording and reporting rates and other information. (1) The information furnished in support of a filing may include: (a) The experience or judgment of the insurer; (b) The insurer's interpretation of any statistical data it relies on; (c) The experience of other insurers; an…

reduction in premium charges. (1) Any schedule of rates or rating plan for automobile liability and physical damage insurance filed with the commissioner shall provide for an appropriate reduction in premium charges for a period of at least three (3) years and up to five (5) year…

For motor vehicle insurance rates, whether in a competitive market or a noncompetitive market, appropriate reductions in premium charges for comprehensive coverage shall be applied to those motor vehicles equipped with an antitheft device as provided in KRS 304.20-410.

(1) Existing rates in a noncompetitive market may be disapproved pursuant to the rating standards of this chapter after a hearing. Rates that have been filed in a noncompetitive market but that have not become effective may be disapproved pursuant to the rating standards of this …

(1) An insurer that uses credit information shall, on written request from an applicant or an insured, provide reasonable exceptions to the insurer's rates, rating classifications, company or tier placement, or underwriting rules or guidelines for an applicant or insured who has …

(1) All rates, supplementary rate information, and supporting information filed under KRS 304.13-011 to 304.13-161 shall be open to public inspection at any reasonable time. Copies may be obtained by any person on request and on payment of a charge specified in Subtitle 4 of this…

Refusal to supply services -- Application for license -- Fees. (1) No advisory organization, statistical agent, or form provider shall provide any otherwise permitted service, and no insurer shall utilize the services unless the organization has obtained a license pursuant to sub…

Upon the written application of the insured, stating his or her reasons therefor, filed with and approved by the commissioner, a rate in excess of that provided by a filing otherwise applicable may be used on any specific risk.

No advisory organization or statistical agent shall: (1) Make an agreement with an insurer or another advisory organization that has the purpose or effect of substantially lessening competition in an insurance market; or (2) After January 1, 1983, compile or distribute recommenda…

Any advisory organization in addition to other activities not prohibited, is authorized, on behalf of its members and subscribers, to: (1) Collect statistical data from members, subscribers, or any other source; (2) Develop statistical plans including territorial and class defini…

(1) No insurer or advisory organization shall make any arrangement with any other insurer, advisory organization, or other person that has the purpose or effect of unreasonably restraining trade or unreasonably lessening competition in the business of insurance. (2) No insurer or…

agents, form providers, residual market, and joint underwriting organizations. (1) The commissioner may examine any insurer, pool, advisory organization, statistical agent, form provider, or residual market or joint underwriting mechanism as deemed necessary to ascertain complian…

pools, and residual market mechanisms. (1) Notwithstanding KRS 304.13-131(2)(a), insurers participating in joint underwriting, joint reinsurance pools, or residual market mechanisms may, in connection with such activity, cooperate with each other in the making of rates, rating sy…

commissioner -- Notification of review rights to workers' compensation insureds. (1) Every insurer or advisory organization shall provide within this state reasonable means whereby any person aggrieved by the application of its rating system may be heard on written request to rev…

In addition to other activities not prohibited, any statistical agent is authorized, on behalf of its members and subscribers, to: (1) Develop statistical plans including territorial and class definitions; (2) Collect historical data from members, subscribers, or any other source…

(1) Every advisory organization shall file with the commissioner every statistical plan, all prospective loss costs, provisions for special assessments, and all supplementary rating information, and every change or amendment or modification of any of the foregoing proposed for us…

experience rating systems -- Reporting -- Subclassifications, rating plans, and other variations from manual rules -- Credit for drug-free workplace program. (1) Every workers' compensation insurer shall adhere to a uniform classification system and uniform experience rating syst…

No person shall willfully withhold information which will affect the rates or premiums chargeable under this subtitle from, or knowingly give false or misleading information to, the commissioner, any statistical agent, any advisory organization, or any insurer.

for prior approval. (1) Any policy fee as related to underwriting expenses for a property or casualty insurance contract, issued or renewed on or after July 14, 2000, by an agent licensed under KRS 304.9-085, shall be deemed fully earned. The fee shall only be collected if covera…

(1) The commissioner may suspend the license of any advisory organization or insurer which fails to comply with an order of the commissioner within the time limited by the order, or any extension thereof which the commissioner may grant. The commissioner shall not suspend the lic…

Rates for professional, commercial, and governmental liability insurance shall be based on Kentucky experience when actuarially credible. This section shall not apply to rates for motor vehicle liability insurance, workers' compensation insurance, and employers' liability insuran…

insureds to Employers' Mutual Insurance Authority. The Workers' Compensation Insurance Plan (KWCIP), a workers' compensation residual market mechanism, in existence by virtue of this subtitle, shall not write new policies or renew policies after September 1, 1995. The board of di…

compliance -- Premium discount or rate reduction -- Administrative regulations. (1) (a) All insurance companies writing property insurance for wind or hail coverage of any property located in Kentucky that has been certified as complying with the most recent version of any applic…

FORTIFIED single-family dwellings. (1) As used in this section: (a) "Cost to upgrade the single-family dwelling" means the cost required to upgrade the roof structure of the single-family dwelling to meet or exceed the most recent version of the FORTIFIED Home roof structure cons…

The commissioner shall review, approve, and hear appeals on the assignment, reassignment, or modification of any fire protection classification of any fire protection district, municipality, or locality in the state which is made by any lawful insurer, advisory organization, or a…

Any fire protection district, municipality, or locality in the state which is assigned a fire protection classification by any lawful advisory organization or insurer which makes its own rates, operating in the Commonwealth, may appeal to the commissioner for modification or reas…

(1) The commissioner shall make such investigation as he or she deems necessary or convenient for proper determination regarding an appeal. (2) The books, accounts, papers and records of every fire protection classification advisory organization or insurer which makes its own rat…

(1) Within thirty (30) days of the filing of an appeal, the commissioner shall hold an administrative hearing to be conducted in accordance with KRS 304.2-310. Whenever the commissioner determines that a fire protection classification is unreasonable, he or she shall by final ord…

appeal period or until approval by the board of the classification assigned. (1) No insurer may increase premiums for fire insurance based on a fire protection classification until the expiration of the thirty (30) day period for appeal by the fire protection district, municipali…

sent to commissioner. (1) Each fire department operating within the Commonwealth, whether paid or volunteer, shall complete a report each time it responds to a fire call. The report shall be made on a form, similar to the National Fire Protection Association's standard fire repor…