Title XXV, Business and Financial Institutions

(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…

Catchline at repeal: Solicitors -- Special requirements.

(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 …

Catchline at repeal: Sharing of commissions.

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…

Catchline at repeal: Exemption from written examination.

(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…

Catchline at repeal: Licensed person to notify commissioner of licensure disciplinary action.

Catchline at repeal: Return of license to commissioner.

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…

Catchline at repeal: Travel insurance offered by travel retailer on behalf of limited lines travel insurance producer -- Requirements.

Catchline at repeal: Definitions for KRS 304.9-480 and 304.9-485.

Catchline at repeal: Licensing of specialty credit insurance producers -- Authorization of employees or representatives -- Rights and limitations.

Catchline at repeal: Banks exempt from KRS 304.9-480 and 304.9-485.

For the purposes of KRS 304.9-495 to 304.9-497: (1) "Limited lines self-service storage space insurance producer" means a: (a) Licensed managing general agent, which has the same meaning as "managing general agent" in KRS 304.9-085(1); (b) Licensed agent, which as the same meanin…

behalf of a limited lines self-service storage space insurance producer -- Conditions -- Producer is responsible for operator's acts. (1) An operator of a self-service storage facility may offer and disseminate insurance for personal property located within a leased space at a se…

storage space insurance. Self-service storage space insurance shall not be transacted under this subtitle at any location unless the following consumer protection disclosures are made in writing that meets the readability standards set forth in KRS 304.14-440 and the administrati…

Catchline at repeal: Definitions for KRS 304.9-501 to 304.9-513.

Catchline at repeal: Types of insurance that rental vehicle agent may handle at company office -- Coverage is primary over other coverage.

fee and licensed managing employee for each business location -- Application and qualifications for license. (1) A license issued under this section shall permit rental vehicle insurance sales by the license holder provided the sales are conducted in accordance with the provision…

transact business -- Licensee may not hold self out as insurance agent without applicable license. (1) A license issued to a business entity under KRS 304.9-505 shall authorize an employee or representative of the business entity licensee to sell, solicit, or negotiate rental veh…

agreement. Rental vehicle insurance shall not be transacted under this subtitle at any location unless the following consumer protection disclosures are made in writing that meets the readability standards set forth in KRS 304.14-440 and the regulations promulgated thereunder pri…

conjunction with rental vehicle transaction. A rental vehicle agent who is licensed in accordance with this subtitle shall not sell, solicit, or negotiate insurance that is not sold in conjunction with a rental vehicle transaction.

Catchline at repeal: Penalties -- Educational materials to be provided to executive director -- Commissions and other compensation -- Renewal of licenses -- Administrative regulations.

As used in KRS 304.9-700 to 304.9-759, unless the context requires otherwise: (1) "Actuary" means a person who is a member in good standing of the American Academy of Actuaries; (2) "Controlling person" means any person, firm, association, or corporation who directly or indirectl…

(1) No individual or business entity shall act as a reinsurance intermediary broker in Kentucky if the reinsurance intermediary broker maintains an office either directly or as a director, officer, member, or employee of a business entity: (a) In Kentucky, unless the reinsurance …

insurer. Transactions between a reinsurance intermediary broker and the insurer it represents in that capacity shall only be entered into pursuant to a written authorization specifying the responsibilities of each party. The authorization shall, at a minimum, contain provisions t…

(1) For at least ten (10) years after expiration of each contract of reinsurance transacted by the reinsurance intermediary broker, the reinsurance intermediary broker shall keep a complete record for each transaction showing: (a) The type of contract, limits, underwriting restri…

intermediary brokers. (1) An insurer shall not engage the services of any person, firm, association, or corporation to act as a reinsurance intermediary broker on its behalf unless the person is licensed as required by subsection (1) of KRS 304.9-705. (2) An insurer shall not emp…

Transactions between a reinsurance intermediary manager and the reinsurer it represents in such capacity shall only be entered into pursuant to a written contract, specifying the responsibilities of each party, which shall be approved by the reinsurer's board of directors. At lea…