Title XXV, Business and Financial Institutions

Except for governmental entities, the trustees shall not accept an employer as a member unless the employer has a net worth of at least two (2) times its estimated annual premium, unless the employer pays its full estimated annual premium in advance. The trustees shall not accept…

commissioner. (1) If a self-insured group decides to dissolve its self-insured program, the trustees shall: (a) File a detailed plan of dissolution with the commissioner for prior approval; (b) Provide sixty (60) days written notice by certified mail to the commissioner and each …

The board of trustees of each workers' compensation self-insured group shall establish a formal conflict-of-interest policy or code of conduct applicable to the board of trustees, officers, and employees that includes a description of the system used to monitor compliance with th…

(1) In addition to reports required under KRS 304.50-060, each workers' compensation self-insured group shall file with the commissioner an annual statement of financial condition audited by an independent certified public accountant on or before one hundred and twenty (120) days…

- Grounds for disapproval -- Filing fee -- Public inspection of filings. (1) A workers' compensation self-insured group shall file with the commissioner its rates and supplementary rating information and any changes made to its rates and supplementary information. (a) Within one …

Administrative regulations -- Eligibility to write excess liability coverage for group. (1) The commissioner shall promulgate administrative regulations setting forth the requirements for aggregate excess insurance and the standards for granting a waiver, but a workers' compensat…

(1) In the computation of the retained liabilities of the self-insured group, reserves for claims or projected reserves for claims may be discounted for their present value if: (a) The discounting is based upon the computation of a qualified actuary; and (b) The computations and …

(1) Each member of a workers' compensation self-insured group shall receive written evidence of coverage by the group. (2) All evidences of coverage issued pursuant to this section shall contain coverage terms, conditions, and exclusions. (3) All evidences of coverage issued purs…

remedy deficit -- Delinquency proceedings -- Bulk reinsurance. (1) If a workers' compensation self-insured group has a members' fund balance that is less than the minimum amount required by this subtitle of one million dollars ($1,000,000) and not a negative members' fund balance…

Hearing and appeal -- Notification requirements and exceptions. (1) After a hearing or upon agreement by the workers' compensation self-insured group, the commissioner may suspend or revoke the certificate of filing of a self-insured group, impose a civil penalty of up to ten tho…

Nothing in this subtitle nor any administrative regulation adopted under the authority of this subtitle shall require any workers' compensation self-insured group formed by governmental entities or its members to take any action in violation of the Constitution of the Commonwealt…

commissioner within 15 days. (1) A person shall not: (a) Make any deceptive statement or omit material facts in connection with solicitation for membership in a workers' compensation self-insured group; or (b) Guarantee the payment of dividends or use statements or words in, or i…

A group self-insurance fund regulated under this subtitle and administrative regulations promulgated by the commissioner shall be subject to the provisions of this subtitle, Subtitle 12 of this chapter, and KRS 304.2-310 to 304.2-370, 304.20-100, and 304.99- 082, to the extent ap…

Annually on or before the fifteenth day of December, the commissioner shall make a report to the Governor and the Interim Joint Committees of Banking and Insurance and Economic Development and Workforce Investment on the status of workers' compensation self-insured groups.

Catchline at repeal: Access to, and removal of deposits.

Catchline at repeal: Custodial expense fund.

Catchline at repeal: Release of existing excess deposits.

Interstate Insurance Product Regulation Compact Pursuant to terms and conditions of this compact, the Commonwealth of Kentucky seeks to join with other states and establish the Interstate Insurance Product Regulation Compact, and thus become a member of the Interstate Insurance P…

Catchline at repeal: Application of KRS 304.511 to 304.560.

Catchline at repeal: "Agent" defined.

Catchline at repeal: Salaried representatives of mutual or reciprocal insurers.

Catchline at repeal: "Solicitor" defined.

Catchline at repeal: Service representatives.

Catchline at repeal: "Adjuster" defined.

Catchline at repeal: License required for agents, solicitors, adjusters and brokers; forms.

Catchline at repeal: General qualifications for licenses.

Catchline at repeal: "Controlled business" defined; ground for refusal of license.

Catchline at repeal: Applications for license.

As used in this subtitle: (1) "Blanket travel insurance" means a policy of travel insurance issued to any eligible group providing coverage for specific classes of persons defined in the policy, with coverage provided to all members of the eligible group without a separate charge…

(1) The provisions of this subtitle shall: (a) Apply to travel insurance that covers any resident of this state, and is sold, solicited, negotiated, or offered in this state, and policies and certificates are delivered or issued for delivery in this state; and (b) Not apply to ca…

insurance under supervision of travel insurance producer -- Written materials -- Employees and representatives -- Related compensation. (1) As used in this section: (a) "Offer and disseminate," "offers and disseminates," or "offering and disseminating" means to: 1. Provide genera…

(1) A travel protection plan may be offered for one (1) price if: (a) The plan clearly discloses to the consumer, at or prior to the time of purchase, that: 1. It includes travel insurance, travel assistance services, and cancellation fee waivers, as applicable; and 2. The consum…

Information provided to consumers -- Acts that do not constitute unfair trade practices -- Negative option or opt-out. (1) "Aggregator site" means a Web site that provides access to information for use in comparison shopping regarding insurance products from more than one (1) ins…

license -- Insurer's responsibility. (1) A person holding a managing general agent license or an administrator license in this state, or an insurance agent licensed in this state with property and casualty lines of authority for activities permitted under that license, may direct…

underwriting standards. (1) Notwithstanding any other provision of this chapter: (a) Except as provided in paragraph (b) of this subsection, travel insurance shall be classified and filed, for purposes of rates and forms, as inland marine insurance; and (b) Travel insurance that …

The commissioner may promulgate administrative regulations to implement the provisions of this subtitle.

This subtitle may be cited as the Travel Insurance Act.

Catchline at repeal: Number of applications required.

Catchline at repeal: Examinations for license; exceptions; renewal; advisory board.

Catchline at repeal: Scope of examination.

Catchline at repeal: Examinations, form and time; collection of fee.

Catchline at repeal: Issuance of license.

Catchline at repeal: Agent's qualifications.

Catchline at repeal: Firms and corporations as agents.

Catchline at repeal: Appointment of agents; termination.

Catchline at repeal: Number of licenses required; scope.

Catchline at repeal: Limited license.

provisions. Paid family leave insurance: (1) May be: (a) Included in a group disability income insurance policy or contract purchased by an employer; (b) Offered as a rider, amendment, or supplemental policy provision to a group disability income insurance policy or contract purc…

(1) As used in this section, unless the context requires otherwise: (a) "Armed Forces of the United States" includes members of the: 1. National Guard; and 2. The United States Armed Forces Reserves; (b) "Child" includes a person who is: 1. Either: a. Under eighteen (18) years of…

A paid family leave insurance policy or contract shall set forth: (1) The details and requirements for each of the covered family leave reasons specified in the policy or contract; (2) (a) The length of family leave benefits that are available for each covered family leave reason…