Title XXV, Business and Financial Institutions

overpayment. An action or request for reimbursement for any overpayment of a health insurance claim pursuant to any health insurance contract shall be brought not more than two (2) years from the date the claim was filed. No insurer, assignee of the insurer, or other person, whet…

Suit upon causes of action arising within this state against an insurer upon an insurance contract shall be brought in the county where the cause of action arose or in the county where the policyholder instituting such action resides.

Any resident of this state who is the person named as the insured in any policy of fire insurance issued or delivered in this state on property located in this state and who sustained a loss of or to such property, which loss is covered under such policy, for which he becomes ent…

prohibited. No insurer shall use an itemized statement furnished pursuant to KRS 216B.250 for insurance payment purposes where benefits have been assigned.

(1) No insurance policy for homeowners, dwelling fire, automobile, accident and health, life or other forms of personal insurance shall be delivered, issued for delivery, amended or renewed in this state after the effective date set out in subsection (2) of this section unless th…

(1) All insurance policies subject to the provisions of KRS 304.14-420 to 304.14-450 shall contain as the first page or first page of text, if it is preceded by a title page or pages, a cover sheet or sheets as provided in this section. The cover sheet or sheets shall be printed …

information -- Requirements for non-English version -- Use and effect of translations. (1) All policy forms filed with the department, and any other insurance policy or claim- related information, shall be written in the English language. (2) An insurer may provide applicants and…

(1) All insurance policies subject to the provisions of KRS 304.14-420 to 304.14-450 shall be written in language easily readable and understandable by a person of average intelligence and education. (2) In determining whether a policy or contract is readable within the meaning o…

approved by commissioner. (1) All insurance policies subject to the provisions of KRS 304.14-420 to 304.14-450 shall be printed in legible type and in a type face style approved by the commissioner. The commissioner shall by regulation establish a list of type face styles approve…

For the purpose of KRS 304.14-510 to 304.14-550: (1) "Applicant" means: (a) In the case of an individual Medicare supplement policy or subscriber contract, the person who seeks to contract for insurance benefits; and (b) In the case of a group Medicare supplement policy or subscr…

The commissioner may make reasonable rules and regulations establishing minimum standards for Medicare supplement insurance policies delivered or issued for delivery in the state. Such regulations may cover but are not limited to: (1) Establishing specific standards for policy pr…

Notwithstanding any other provision of state law except KRS 304.14-525(3)(b)3., a Medicare supplement policy shall not: (1) Deny a claim for losses incurred more than six (6) months from the effective date of coverage for a pre-existing condition; or (2) Define a pre-existing con…

Medicare supplement policies for applicants who meet requirements relating to age, health conditions, and enrollment. (1) As used in this section: (a) "Non-age eligible person": 1. Means a person who is: a. Under the age of sixty-five (65); and b. Eligible for Medicare by reason …

Medicare supplement policies shall be expected to return to policyholders benefits which are reasonable in relation to the premium charged. The commissioner shall issue reasonable regulations to establish minimum standards for loss ratios of Medicare supplement policies on the ba…

In order to provide for full and fair disclosure in the sale of Medicare supplement policies, no Medicare supplement policy shall be delivered or issued for delivery in this state and no certificate shall be delivered pursuant to a group Medicare supplement policy delivered or is…

If an individually marketed Medicare supplement insurance policy is canceled, the insurer shall return promptly the unearned portion of any premium paid beyond the month in which the cancellation is effective.

Medicare supplement policies or certificates shall have a notice prominently printed on the first page of the policy or attached thereto stating in substance that the applicant shall have the right to return the policy or certificate within thirty (30) days of its delivery and to…

Distribution -- Payment. (1) The commissioner of insurance shall biennially compile a consumer's guide to long- term care insurance in Kentucky. The consumer's guide shall cover all insurers offering health insurance policies in Kentucky, including health maintenance organization…

As used in KRS 304.14-600 to 304.14-625, unless the context requires otherwise: (1) "Incidental" indicates that the value of the long-term care benefits provided in a policy is less than ten percent (10%) of the total value of the benefits provided over the life of the policy. Po…

(1) The purpose of KRS 304.14-600 to 304.14-625 is to promote the public interest, to promote the availability of long-term care insurance policies, to protect applicants for long-term care insurance from unfair or deceptive sales or enrollment practices, to establish standards f…

Group long-term care insurance coverage shall not be offered to a resident of Kentucky under a group policy issued in another state to a group described in KRS 304.14- 600(5)(d) unless the commissioner or the insurance supervisory official of another state having statutory and re…

-- Right to return policy. (1) The commissioner shall promulgate administrative regulations that include standards for full and fair disclosure setting forth the manner, content, and require disclosures for the sale of long-term care insurance policies, terms of renewability, ini…

and for adult day care services. (1) Any long-term care policy, issued on or after June 21, 2001, which provides coverage for assisted living benefits shall cover services received in any assisted living community that: (a) Meets the requirements of KRS 194A.700 to 194A.729 and a…

The commissioner shall issue administrative regulations to establish minimum standards for marketing practices, agent compensation, agent testing, penalties, and reporting practices for long-term care insurance.

premium. If an individually marketed individual long-term care insurance policy is canceled, the insurer shall return promptly the unearned portion of any premium paid beyond the month in which the cancellation is effective.

KRS 304.14-600 to 304.14-625 may be cited as the Long-term Care Insurance Act.

care benefits. The commissioner shall issue administrative regulations to establish standards for premium rate practices and rate increases for long-term care benefits.

benefits. The commissioner shall promulgate administrative regulations to establish standards for incidental long-term care benefits.

As used in KRS 205.619 and 304.14-640 to 304.14-644, unless the context requires otherwise: (1) "Asset disregard" means a one dollar ($1) increase in the amount of assets the policyholder may own and retain for each one dollar ($1) of benefit paid under a long-term care partnersh…

component requirements -- Administrative regulations. (1) The Kentucky Long-Term Care Partnership Insurance Program is established as a partnership between the Department for Medicaid Services and the Department of Insurance to: (a) Provide incentives for an individual to insure …

Partnership Insurance Program. (1) Each insurer or its agent, soliciting or offering to sell a policy that is intended to qualify as a partnership policy, shall provide each prospective applicant a Partnership Program Notice disclosing the availability of the Kentucky Long-Term C…

As used in KRS 304.14-650 to 304.14-675, "short-term nursing home insurance policies" means any insurance policy or rider advertised, marketed, offered, or designed to provide coverage for less than twelve (12) consecutive months for each covered person on an expense-incurred, in…

Any short-term nursing home product issued on or after July 15, 2002, shall be subject to the provisions of this section and KRS 304.14-660, 304.14-665, 304.14-670 and 304.14- 675.

insurance policies. The commissioner shall promulgate administrative regulations that include standards for full and fair disclosure setting forth the manner, content, and required disclosures for sale of short-term nursing home insurance policies, terms of renewability, initial …

The commissioner may promulgate administrative regulations establishing loss ratio standards for short-term nursing home insurance policies.

Notice -- Proof of delivery of policy. Short-term nursing home insurance policy applicants shall have the right to return the policy or certificate within thirty (30) days of its delivery from the insurer to the policyowner and to have the premium refunded if, after examination o…

day care facility. (1) Any short-term nursing home insurance policy issued on or after July 15, 2002, which provides coverage for assisted living benefits shall cover services received in any assisted living community which: (a) Meets the requirements of KRS 194A.700 to 194A.729 …

Catchline at repeal: Decrease of capital stock on impairment.

Catchline at repeal: Mutualization of stock insurers.

Catchline at repeal: "Equity security" defined.

Catchline at repeal: Statement of stock ownership by directors and officers; unfair use of information; sales by officers; regulations.

Catchline at repeal: Applicability of KRS 304.146.

Catchline at repeal: Rules and regulations as to security transactions.

The provisions of this subtitle apply only to contracts of life insurance and annuities, other than reinsurance, group life insurance and group annuities.

(1) "Advertisement" means any written, electronic, or printed communication or any communication by means of recorded telephone messages or transmitted on radio, television, the Internet, or similar communication media, including film strips, motion pictures, and videos, publishe…

In construing the provisions of KRS 304.15-310 to 304.15-360, inclusive, "ordinary insurance" or "insurance upon the ordinary plan" shall be considered to be insurance that may be paid for by a single premium, by annual premiums or by semiannual or quarterly or other installments…

Nothing in this subtitle preempts or otherwise limits the provisions of the Securities Act of Kentucky, KRS Chapter 292, or any administrative regulations, orders, policy statements, notices, bulletins, or other interpretations issued by or through the commissioner of the Kentuck…

(1) No policy of life insurance other than pure endowments with or without return of premiums or of premiums and interest, shall be delivered or issued for delivery in this state unless it contains in substance all of the applicable provisions required by KRS 304.15-050 to 304.15…

insurance policy. No college life insurance policy shall be sold or delivered in this Commonwealth unless the following provisions are complied with: (1) A letter of acceptance, on a form approved by the commissioner, is presented to the proposed insured, setting forth the condit…

(1) There shall be a provision relating to the time and place of payment of premiums. (2) There shall be a provision which shall state in substance that the policy may be returned by the policyowner to the company, within a period of not less than ten (10) days after its receipt …