Title XXV, Business and Financial Institutions

As used in this subtitle: (1) "Agent" means a person who sells, solicits, or negotiates insurance or annuity contracts; (2) "Appointment" means a notification filed with the insurance department that an insurer has established an agency relationship with a producer; (3) "Appointm…

(1) Unless denied a license according to KRS 304.9-440, applicants who have met the requirements for the license in accordance with this subtitle, shall be issued the applicable license. (2) An insurance agent may receive qualification for a license in one (1) or more of the foll…

(1) Any insurer shall be liable for the acts of its agents and adjusters when the agents or adjusters are acting: (a) In their capacity as representatives of the insurer; and (b) Within the scope of their authority. (2) Licensed individuals designated by a business entity to exer…

(1) A "consultant" is a person, who as an independent contractor in relation to a client, for fee or compensation other than from an insurer, in any manner advises or purports to advise, any person actually or prospectively insured, or named or to be named as beneficiary, or havi…

Catchline at repeal: "Solicitor" defined.

As used in KRS 304.9-052 and 304.9-371 to 304.9-377: (1) (a) An "administrator" is an individual or business entity that collects charges or premiums from, or that adjusts or settles claims on, residents of this state in connection with life insurance, health insurance, annuities…

(1) No individual or business entity shall in this state be, act as, or hold himself or herself out to be an administrator unless then licensed as an administrator by the commissioner. (2) For the protection of the people of this state, the commissioner shall not issue, continue,…

(1) (a) In order to conduct business in this state, a pharmacy benefit manager shall first obtain a license from the commissioner. The license shall be in lieu of an administrator's license as required by KRS 304.9-052. (b) A licensed pharmacy benefit manager performing utilizati…

issuance -- Disciplinary actions concerning license -- Administrative regulations -- Fees. (1) (a) Upon receipt of a completed application, fee, and other documentation and information required under KRS 304.9-053, the commissioner shall make a review of each applicant for a phar…

Chapter 304 -- Administrative regulations. (1) Pharmacy benefit managers shall be subject to this subtitle and to the provisions of Subtitles 1, 2, 3, 4, 12, 14, 17, 17A, 17C, 18, 25, 32, 38, 47, and 99 of KRS Chapter 304 to the extent applicable and not in conflict with the expr…

Catchline at repeal: "Service representative" defined -- General requirements.

Catchline at repeal: "Adjuster" defined.

(1) Except as provided in KRS 304.52-030, an individual or business entity shall not sell, solicit, or negotiate insurance in this state unless duly licensed as the appropriate insurance producer for that line of authority in accordance with this subtitle or Subtitle 10 of this c…

(1) A "managing general agent" is an individual or business entity appointed by an insurer to solicit applications from agents for insurance contracts or to negotiate insurance contracts on behalf of an insurer and, if authorized to do so by an insurer, to effectuate and counters…

(1) Nothing in this subtitle shall be construed to require an insurer to obtain a license as an insurance producer. As used in this section, the term "insurer" does not include an insurer's officers, directors, employees, subsidiaries, or affiliates. (2) A license as an insurance…

(1) The purpose of a license issued under this subtitle to an insurance producer is to authorize and enable the licensee actively and in good faith to engage in the business of insurance with respect to the general public, and to facilitate the public supervision of such activiti…

(1) An individual applying for an agent license shall make application to the commissioner on the uniform individual application or other application prescribed by the commissioner. Before approving the application, the commissioner shall find that the applicant: (a) Is at least …

Administrative regulations. (1) The following persons shall be exempt from the prelicensing course of study requirements for specific lines of authority of KRS 304.9-105(1)(e)1.: (a) Persons holding a Chartered Life Underwriter (CLU) designation for a life line of authority; (b) …

Catchline at repeal: General qualifications for agent, solicitor, licenses.

(1) Each applicant for license as a resident licensee shall be qualified to designate and shall designate Kentucky as the applicant's home state at the date of application for the license and shall maintain that eligibility throughout the duration of the license. (2) Except as pr…

(1) A business entity acting as an agent is required to obtain an agent license. Application shall be made using the uniform business entity application or other application prescribed by the commissioner. Before approving the application of a business entity as a resident or as …

designation notice -- Exercise of license -- Responsibility of insurer for acts of designated individuals. (1) As used in this section, "licensed business entity" means a business entity issued a: (a) License under this subtitle; or (b) Life settlement broker, life settlement pro…

activities -- Administrative regulations -- Activities of officers or employees of financial institution. (1) As used in this section: (a) "Financial institution" means: 1. A bank or bank holding company, as defined in the Bank Holding Company Act of 1956, codified at 12 U.S.C. s…

Catchline at repeal: Compensation for referral of consumers by employees of a general agency -- Conditions.

(1) A nonresident individual or business entity shall receive the applicable insurance producer license if: (a) The applicant is currently licensed as a resident and in good standing in his or her home state; (b) The applicant has submitted the proper request for license and has …

Catchline at repeal: Fees charged to out-of-state individuals or business entities.

license, life settlement broker license, or life settlement provider license. (1) Application for a license issued under this subtitle, surplus lines broker license, life settlement broker license, or life settlement provider license shall be made by the applicant. Applications u…

(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…

Catchline at repeal: Multiple licensing, life agents.

(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…

Catchline at repeal: Combined licensing prohibited.

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…