Title XXV, Business and Financial Institutions

(1) An individual applying for any license under this subtitle requiring an examination shall pass a written examination unless exempt under KRS 304.9-170. Examinations required by this section shall be developed and conducted in accordance with administrative regulations promulg…

15, 2026) Prelicensing education or examination shall not be required of: (1) (a) An individual licensee who allows his or her license to lapse if the license renewal fee is paid within twelve (12) months from the due date of the license renewal fee, except a penalty in the amoun…

(1) The examination shall test the knowledge or relevant skills and abilities of the individual concerning the lines of authority for which application is made, the duties and responsibilities of a licensee, and the pertinent insurance laws and administrative regulations of this …

(1) The commissioner shall provide a reasonable opportunity to all applicants to take the examinations required by this subtitle. Examinations shall be held at least monthly at places in this state designated by the commissioner reasonably accessible to applicants, and at least w…

For licenses issued under this subtitle or to a surplus lines broker, life settlement broker, or life settlement provider: (1) The license shall contain the licensee's name, city and state of principal place of business address, personal identification number, and the date of iss…

(1) The license of an agent shall not specify the name of any particular insurer by which the licensee is appointed as agent and the licensee may represent as an agent under the one (1) license as many insurers as may appoint the agent in accordance with this subtitle. (2) The li…

(1) The commissioner may issue, in accordance with KRS 304.9-080, an agent's license with the limited line of authority as follows: (a) Preneed funeral; (b) Travel; (c) Limited line credit; (d) Crop; (e) Rental vehicle; (f) Self-service storage space; or (g) Other limited lines, …

(1) A licensed agent may solicit for and issue personal travel accident insurance policies by means of mechanical vending machines supervised by the agent and placed at airports and similar places of convenience to the traveling public, if the commissioner finds that: (a) The pol…

(1) Every license under this subtitle shall by virtue of such license have the right to transact business as authorized by the license throughout the Commonwealth of Kentucky. (2) No such license, or registration under a firm or corporation license as provided by KRS 304.9-130 sh…

Continuing education documentation. (1) (a) As used in this subsection, "license" means a: 1. License issued under this subtitle; 2. Surplus lines broker license; 3. Life settlement broker license; or 4. Life settlement provider license. (b) Each license shall continue in force u…

Permitted and prohibited actions by agents and insurers. (1) (a) Each insurer appointing an agent in this state shall obtain approval of the appointment from the commissioner by: 1. Filing with the commissioner the notice of appointment, specifying the lines of authority to be tr…

immunity -- Confidential and privileged information -- Commissioner's use of information. (1) Subject to the agent contract rights of a rental vehicle agent, rental vehicle managing employee, managing general agent, or agent, if any, an insurer may terminate an appointment at any…

Following termination of an appointment and subject to the terms of any agreement between the agent and the insurer, the agent may continue to service, and receive from the insurer commissions or other compensation relative to, business written by him or her for the insurer durin…

independent and public adjusters -- Exceptions -- Courses -- Number of hours -- Failure to complete -- Penalty. (1) This section shall apply to individuals who hold licenses or lines of authority requiring continuing education each biennium. (2) The continuing education biennial …

(1) The commissioner may issue a temporary license for a period not to exceed one hundred eighty (180) days without requiring an examination or prelicensing course of study if the commissioner deems that a temporary license is necessary for the servicing of an insurance business …

(1) The temporary license may cover only the same kinds of insurance for which the agent thereby being replaced was licensed. (2) The temporary licensee may represent under the license all insurers last represented by the replaced agent, and without the necessity of new appointme…

For the protection of the people of this Commonwealth the commissioner shall not issue, continue, or permit to exist any license as consultant except in compliance with this subtitle, or as to any person not qualified therefor as follows: (1) If an individual, the applicant: (a) …

cash or bond. (1) To the extent the Gramm-Leach-Bliley Act, 15 U.S.C. sec. 6751(f), provides that evidence of financial responsibility may be required for licensing, every licensed consultant shall maintain in effect while so licensed: (a) The certificate of an insurer authorized…

Requirements. (1) A consultant who is also licensed as an agent shall not, directly or indirectly, receive or share in both a fee and other compensation paid, directly or indirectly, from an insured or any insurer with respect to any insurance or annuity contract procured, renewe…

A consultant is obligated, under his license, to serve with objectivity and complete loyalty the interests of his client alone; and to render his client such information, counsel and service, as within the knowledge, understanding and opinion in good faith of the licensee, as wil…

surplus lines broker. (1) Application for and acceptance of a license issued under this subtitle or as a surplus lines broker by a nonresident of Kentucky shall be deemed to constitute irrevocable appointment of the Secretary of State as the attorney of the licensee for the accep…

(1) No administrator shall act as such without a written agreement between the administrator and the insurer. Such written agreement shall be retained as part of the official records of both parties to the transaction for the duration of the agreement and at least five (5) years …

When an insurer utilizes the services of an administrator under the terms of a written contract as required in KRS 304.9-371, the payment to the administrator of any premiums or charges for insurance by or on behalf of the insured shall be deemed to have been received by the insu…

commissioner. Every administrator shall maintain at its administrative office, for the duration of the written agreement referred to in KRS 304.9-371 and at least five (5) years thereafter, adequate books and records of all transactions between it, insurers, and insureds. Such bo…

An administrator may use only such advertising pertaining to its business underwritten by an insurer as has been approved by such insurer in advance of its use.

All charges or premiums collected by an administrator on behalf of or for an insurer and return premiums or charges received from such insurer shall be held by the administrator in a fiduciary capacity. Such funds shall be immediately remitted to the person or persons entitled th…

(1) All claims paid by the administrator from funds collected on behalf of the insurer shall be paid only on drafts of and as authorized by such insurer. (2) With respect to any contracts where an administrator adjusts or settles claims, the compensation to the administrator with…

Where the services of an administrator are utilized, the administrator shall provide a written notice approved by the insurer to insureds advising them of the identity of and the relationship among the administrator, the group contract holder, and the insurer. Where an administra…

(1) Every individual and business entity issued a license with Kentucky as its home state shall have and maintain in this state a place of business accessible to the public, and wherein the licensee principally conducts transactions under his or her license. This provision shall …

That portion of all premiums or moneys which an insurance producer collects from an insured and which is to be paid to an insurer, its agents, its managing general agents or his or her principal because of the assumption of liability through the issuance of policies or contracts …

of business by commissioner. (1) An agent with a line of authority for property, casualty, or limited line surety insurance may: (a) Occasionally place an insurance coverage with an insurer as to which he or she is not then appointed as an agent, and such insurer may accept such …

Except as otherwise provided in KRS 304.52-030, no agent, consultant, adjuster, or surplus lines broker shall directly or indirectly share his or her commission or other compensation received or to be received on account of a transaction under his or her license with any individu…

consideration -- Exception. (1) No insurer, financial institution, agent, surplus lines broker, adjuster, administrator, reinsurance intermediary broker or manager, rental vehicle agent or managing employee, life settlement broker or provider, or consultant shall pay, directly or…

years beginning on April 13, 2026 -- Application by individual or business entity -- Qualifications -- Evidence of financial responsibility -- Exceptions to license requirement -- Temporary emergency registration following catastrophe -- Nonresident license. (1) (a) Except as pro…

Qualifications -- Terms and conditions -- Limitation for two years beginning on April 13, 2026. (1) In the event that an applicant for an adjuster's license meets the qualification requirements of KRS 304.9-430 except that he or she has not had experience or special education or …

Contents -- Disclosure statement -- Duties of public adjuster -- Rescission period -- Contract in violation of chapter. (1) (a) Except as provided in paragraph (b) of this subsection, a public adjuster shall not provide services to an insured until: 1. A written contract with the…

adjuster -- Limitation on negotiation for two years beginning on July 15, 2026. (1) A public adjuster shall give an insured written notice of the insured's rights under this section and KRS 304.9-433 and 304.9-4332. (2) A public adjuster shall ensure that: (a) Prompt notice of a …

(1) All funds received or held by a public adjuster on behalf of an insured toward the settlement of a claim shall be: (a) Handled in a fiduciary capacity; and (b) Deposited into one (1) or more separate noninterest-bearing fiduciary trust accounts in a financial institution lice…

(1) Any fee charged to an insured by a public adjuster shall: (a) Be based only on the amount of the insurance settlement proceeds actually received by the insured; (b) Be collected by the public adjuster after the insured has received the insurance settlement proceeds from the i…

(1) A public adjuster shall maintain a complete record of each transaction as a public adjuster. The records required by this section shall include the following: (a) The name of the insured; (b) The date, location, and amount of the loss; (c) A copy of the contract between the p…

unlicensed person. An authorized insurer shall not do business in Kentucky with a person that is unlicensed in violation of this subtitle.

Penalty. (1) The commissioner may place on probation, suspend, or may impose conditions upon the continuance of a license for not more than twenty-four (24) months, revoke, or refuse to issue or renew any license issued under this subtitle or any surplus lines broker, life settle…

license. (1) Upon suspension or revocation of any license the commissioner shall notify the licensee either in person or by mail addressed to the licensee at his or her address last of record with the commissioner. Notice by mail shall be deemed effectuated when so mailed. The co…

Hearing. (1) For the protection of the people of Kentucky, the commissioner may by order deny, suspend, or place conditions upon any license subject to the provisions of this subtitle. (2) An order denying a license or appointment shall be based upon the application and any other…

administrative action -- Notification of service of complaint or indictment -- Documentation of resolution. (1) An individual or business entity holding a license issued under this subtitle or holding a license as a surplus lines broker, life settlement broker, or life settlement…

Penalties. (1) An insurer, its agents, or adjusters shall not: (a) Require any policyholder to use a particular company or location for the provision of automobile glass replacement or glass repair services or glass products which shall be replaced, repaired, or provided in whole…