reglab/statecodes huggingface dataset:
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 30 - Insurance Premium Finance Companies › Section 806 KAR 30:050 - Prepayment or refinancing

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.30-050
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.30-070 authorizes the commissioner to
				make reasonable administrative regulations to effectuate the provisions of
				Subtitle 30 of the Kentucky Insurance Code and to regulate the manner in which
				licensed insurance premium finance companies conduct their business. This
				administrative regulation sets forth the requirements for a premium finance
				company if the debtor prepays the debt, or if the insurance contract is
				cancelled, or if the financing agreement is modified.
Section 1. Prepayment, Voluntary or through
			 Cancellation. In the event of the prepayment before maturity or the
			 cancellation of the insurance contracts listed in the agreement upon default by
			 the insured, the insured shall receive for such prepayment (voluntary or
			 involuntary) a refund thereon. The amount of such refund shall represent at
			 least as great a proportion of the service charge as the sum of the periodic
			 balances after the month in which prepayment is made bears to the sum of all
			 periodic balances under the schedule of installments in the agreement. Before
			 making any such refund, the holder licensee need not refund and may retain a
			 minimum charge of ten (10) dollars per premium finance contract and an
			 additional sum of one (1) dollar to a maximum of five (5) percent of the final
			 installment in default for a period of five (5) days or more before
			 cancellation. When the amount of the refund due the insured is less than one
			 (1) dollar, no refund need be made. Refunds hereunder shall be made forthwith
			 without the necessity of demand by the insured.
Section 2. Refinancing. A premium finance
			 company may, upon agreement with the insured, extend the scheduled due date or
			 defer the scheduled payment of all or of any part of any installment or
			 installments payable thereunder. The agreement for such extension of deferment
			 must be in writing and signed by the parties thereto. The premium finance
			 company may charge and contract for the payment of an extension of deferral
			 charge by the insured and collect and receive the same, but such charge may not
			 exceed an amount equal to eight (8) dollars per year on the amount of the
			 installment or installments, or part thereof, are made payable under the
			 agreement of extension or deferment; except that a minimum charge of one (1)
			 dollar for the period of extension or deferral may be made in any case where
			 the extension or deferral charge, when computed at such rate, amounts to less
			 than one (1) dollar.
STATUTORY AUTHORITY:
				  KRS
				  304.30-070
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 30 - Insurance Premium Finance Companies › Section 806 KAR 30:060 - Forms to be approved

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.30-080,
				304.30-120
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.30-070 authorizes the commissioner to
				make such reasonable administrative regulations to effectuate Subtitle 30 of
				the Kentucky Insurance Code and to regulate the manner in which licensed
				insurance premium finance companies conduct their business. This administrative
				regulation requires the regulated companies to file forms with the commissioner
				for his approval as conforming to the code.
Section
			 1. Approval of Forms.
(1) No
			 rate chart, premium finance agreement, advance notice of cancellation, final
			 notice of cancellation, or other form, shall be issued, delivered, or used
			 unless it has been filed in duplicate, and approved by the commissioner. Every
			 such form shall bear thereon a date of issuance and an identifying symbol
			 consisting of numbers or letters or a combination thereof.
(2) No premium finance agreement shall
			 contain any provision by which:
(a) In the
			 absence of default of the insured, the premium finance company holding the
			 agreement may, arbitrarily and without reasonable cause, accelerate the
			 maturity of any part or all of the amount owing thereunder.
(b) A power of attorney is given to confess
			 judgment in this state.
(c) The
			 insured relieves the insurance agent or broker or the premium finance company
			 holding the agreement from liability for any legal rights or remedies which the
			 insured may otherwise have against him.
(d) Prepayment is prohibited.
(e) Attorney's fees are recoverable from the
			 insured.
(3) Service
			 charges shall be inclusive of all charges incident to the premium finance
			 agreement and for the extension of credit provided for therein.
(4) All forms shall comply with applicable
			 "truth in lending" laws.
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 30 - Insurance Premium Finance Companies › Section 806 KAR 30:070 - Books and records subject to inspection

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS 304.30-030,
				304.30-060
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.30-070 authorizes the commissioner to
				make reasonable administrative regulations to effectuate Subtitle 30 of the
				Kentucky Insurance Code and to regulate the manner in which licensed insurance
				premium finance companies conduct their business. This administrative
				regulation sets forth the records and recorded information subject to
				inspection by the commissioner.
Section
			 1. Books and Records.
(1) Records
			 shall be preserved for the time period set forth in
			 KRS
			 304.30-060(2). Every
			 licensee shall maintain each premium finance agreement or duplicate originals
			 and all original documents relating to the premium finance agreement, except
			 those papers returned to the insured. The premium finance agreement and all
			 original documents relating to the premium finance agreement shall:
(a) Include a common identifying number;
			 and
(b) Be available for inspection
			 by the department at any time.
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 30 - Insurance Premium Finance Companies › Section 806 KAR 30:080 - Financial requirements for insurance premium finance companies

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.30-040
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.30-070 provides that the Commissioner of
				Insurance may make reasonable rules and administrative regulations necessary
				for or as an aid to the effectuation of the provisions of KRS 304.30. This
				administrative regulation establishes minimum financial requirements that an
				applicant for an insurance premium finance company license must meet to show
				that it is competent, trustworthy, and intends to act in good faith in the
				capacity involved in the license applied for.
Section 1. Definitions. The term "insurance
			 premium finance company" has the meaning set forth by
			 KRS
			 304.30-020(1).
Section 2.
(1) In order to be considered trustworthy,
			 competent, and to intend to act in good faith as an insurance premium finance
			 company, an applicant for an insurance premium finance company license must
			 show, through certification by an independent certified public accountant, that
			 the prospective insurance premium finance company has a net worth of $50,000
			 and has established a line of credit of at least $100,000 with a bank which is
			 a member of the Federal Reserve System.
(2) Notwithstanding the provisions of Section
			 2(1) of this administrative regulation, an applicant may be considered to be
			 trustworthy, competent, and to intend to act in good faith as an insurance
			 premium finance company if he shows, by certification by an independent
			 certified public accountant, that the prospective insurance premium finance
			 company has a net worth of $150,000.
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 30 - Insurance Premium Finance Companies › Section 806 KAR 30:090 - Insurance premium finance company proof of mailing of cancellation notice

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.30-110
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.2-110 provides that the Commissioner of
				Insurance may make reasonable administrative regulations necessary for or as an
				aid to the effectuation of any provision of the Kentucky Insurance Code.
				KRS
				304.30-070 provides that the Commissioner of
				Insurance has the authority to make and enforce such reasonable administrative
				regulations as may be necessary to make effective the provisions of KRS Chapter
				304.30 and to establish the manner in which insurance premium finance companies
				shall conduct their business. This administrative regulation requires insurance
				premium finance companies to maintain written proof of mailing of notice of
				cancellation of insurance policies.
Section
			 1.
(1) Insurance premium finance
			 companies shall maintain written proof of mailing of the notices of
			 cancellation required by
			 KRS
			 304.30-110(2) and
			 (3).
(2) The written proof of mailing required by
			 subsection (1) of this section shall be a receipt provided by the United States
			 Postal Service.
(3) If an insurance
			 premium finance company does not maintain the proof of mailing required by
			 subsection (1) of this section, the purported notice is void.
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 30 - Insurance Premium Finance Companies › Section 806 KAR 30:100 - Time limit for insurance premium finance company responses to Office of Insurance inquiries

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.30-050,
				304.30-060
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.2-110 provides that the Commissioner of
				Insurance may make reasonable administrative regulations necessary for or as an
				aid to the effectuation of any provision of the Kentucky Insurance Code.
				KRS
				304.30-070 provides that the Commissioner of
				Insurance has the authority to make and enforce such reasonable administrative
				regulations as may be necessary to make effective the provisions of KRS Chapter
				304.30 and to establish the manner in which insurance premium finance companies
				shall conduct their business. This administrative regulation requires insurance
				premium finance companies to respond to inquiries from the Department of
				Insurance within twenty-one (21) days of the date of the inquiry.
Section 1. Insurance premium finance
			 companies shall furnish a complete response to the Department of Insurance
			 within twenty-one (21) days of the date of an Department of Insurance
			 inquiry.
STATUTORY AUTHORITY:
				  KRS
				  304.2-110,
				  304.30-070
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 37 - Insurance Holding Company Systems › Section 806 KAR 37:010 - Insurance holding company systems and other insurer filing

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.1-050,
				304.6,
				304.24-390,
				304.24-400,
				304.24-415,
				304.33,
				304.37-010,
				304.37-020,
				304.37-030,
				304.37-110,
				304.37-120,
				304.37-130
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.2-110 authorizes the Commissioner of the
				Department of Insurance to promulgate make reasonable administrative
				regulations necessary for or as an aid to the effectuation of any provision of
				the Kentucky Insurance Code, KRS Chapter 304.
				KRS
				304.37-060 authorizes the commissioner to
				promulgate administrative regulations as may be necessary to carry out KRS
				Chapter 304 Subtitle 37. This administrative regulation establishes procedural
				requirements necessary to carry out the provisions of KRS Chapter 304 Subtitle
				37, insurance holding company systems, and statutes relating to the merger and
				acquisition of domestic insurers.
Section
			 1. Definitions.
(1)
			 "Commissioner" is defined by
			 KRS
			 304.37-010(2).
(2) "Department" is defined by
			 KRS
			 304.1-050(2).
(3) "Ultimate controlling person" means that
			 person which is not controlled by any other person.
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 38 - Health Maintenance Organizations › Section 806 KAR 38:010 - Information required of applicants for certificate of authority

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.38-060
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.38-060 provides that applicant Health
				Maintenance Organizations satisfy the commissioner as to the reputation and
				capability of persons responsible for the conduct of its affairs, its financial
				responsibility and its financial basis in provisions for working capital prior
				to the issuance of a certificate of authority.
Section 1. The proposed health maintenance
			 organization shall furnish the name and residence address of each individual
			 who will be directors, officers or management of the health maintenance
			 organization. A biographical resume must be furnished on each individual on a
			 form prescribed by the commissioner.
Section
			 2. The health maintenance organization shall have sufficient funds
			 originally to cover all initial organizational, promotional, and sales
			 expenses, plus an additional amount sufficient to cover up to thirty (30) days
			 operating expenses.
Section 3. The
			 health maintenance organization shall cease issuing new contracts to enrollees,
			 except newborn children or other newly acquired dependents of existing
			 enrollees, when its admitted assets are less than $80,000 in excess of its
			 liabilities. The aforesaid shall not apply for the first thirty-six (36) months
			 of operation under a certificate of authority for those health maintenance
			 organizations which have no other source of funding for operating costs, except
			 for revenues received from enrollees or revenues received thereon, other than
			 through loans or loan guarantees which have been granted by the United States
			 under Title XII of the Health Maintenance Act of 1973 Section 1305.
Section 4. In order to help determine the
			 financial responsibility of the health maintenance organization, it will be
			 necessary for each health maintenance organization to furnish financial
			 statements, for three (3) years after the certificate of authority has been
			 issued, to the commissioner on a calendar quarter basis, i.e., as of March 31,
			 June 30, September 30 and December 31. These statements shall be filed upon a
			 form prescribed by the commissioner no later than forty-five (45) days
			 following the close of the calendar quarter. At the end of the three (3) year
			 period as noted above, the commissioner may request the continuation of such
			 quarterly reporting if he deems it necessary.
STATUTORY AUTHORITY:
				  KRS
				  304.38-150
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 38 - Health Maintenance Organizations › Section 806 KAR 38:040 - Financial projections; area overlapping

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.38-040
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.38-040 provides that a health maintenance
				organization supply the commissioner information upon application for
				certificate of authority. This administrative regulation explains the
				authenticity of the health maintenance organization's financial projections and
				possibility of overlapping health maintenance organizations within a particular
				geographic area.
Section 1. The three
			 (3) year projections for the financial program of the applicant health
			 maintenance organization shall be prepared by an individual who has satisfied
			 the commissioner by virtue of his training, education and experience that he is
			 qualified to make such projections.
Section
			 2. The existence or proposed operation of health maintenance
			 organizations in the same geographic area that could affect the number of
			 prospective enrollees of the applicant health maintenance organization shall be
			 disclosed to the commissioner in the description of the initial geographic area
			 to be served.
Section 3. In noting
			 the sources of working capital and funding, the proposed health maintenance
			 organization shall inform the commissioner whether there are grants, loans or
			 loan guarantees from the federal government; if so, the amounts thereof, rates
			 of interest, if any, the schedule of repayment, if any, of the principal and
			 interest. If the working capital and funding is derived from other than through
			 the federal government, indicate such source, giving details of such program,
			 including any schedule of repayments of principal and interest on loans which
			 may have been made.
STATUTORY AUTHORITY:
				  KRS
				  304.38-150
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 38 - Health Maintenance Organizations › Section 806 KAR 38:050 - Fiscal soundness of organization

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.38-070
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.38-150 provides that the Commissioner of
				Insurance shall adopt reasonable rules and administrative regulations to
				administer KRS Chapter 304, Subtitle 38. This administrative regulation
				provides that the health maintenance organization satisfy the commissioner as
				to their fiscal soundness so as to guarantee that its obligations to enrol-lees
				will be performed.
Section 1. Each
			 health maintenance organization choosing to meet the financial requirements of
			 KRS
			 304.38-070 by depositing with the
			 commissioner through the Custodian of Insurance Securities, certificates of
			 deposit, cash, or general obligations issued, assumed or guaranteed by the
			 United States, shall maintain their said deposits at market value at least
			 equal to their required amount of deposit. Any general obligations referred to
			 herein shall be in bearer form.
Section
			 2. The health maintenance organization shall pay into the Treasury
			 of the Commonwealth, through the Department of the Commissioner of Insurance,
			 its portion of the expense fund used in paying the custodian's salary, premium
			 on his bond and other necessary expenses incident to the office used by the
			 custodian. The portion of such expense fund to be paid by each company shall be
			 in the same approximate proportion as the amount such company had on deposit on
			 December 31 of the preceding year bears to the total of deposits with the
			 Custodian of Insurance Securities as of December 31 of the preceding year. The
			 executive director shall assess such company for its proportionate share of
			 such expense fund. The minimum charge for each company shall be two (2)
			 dollars.
STATUTORY AUTHORITY:
				  KRS
				  304.38-150
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 38 - Health Maintenance Organizations › Section 806 KAR 38:070 - Health maintenance organization subscriber fee filings

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.38-050,
				304.38-070
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.38-150 provides that the Commissioner of
				Insurance may promulgate administrative regulations necessary for the proper
				administration of KRS Chapter 304, Subtitle 38.
				KRS
				304.38-050 requires, in part that any
				schedule of fees or other periodic charges to be paid by enrollees and
				submitted to the commissioner is to be accompanied by adequate supporting
				information to show that such charges or fees are not excessive, inadequate, or
				unfairly discriminatory. This administrative regulation establishes the minimum
				amount of supporting information which may be considered adequate.
Section 1. Definitions.
(1) Terms defined in
			 KRS
			 304.38-030 shall have the meanings stated
			 therein.
(2) "Uncovered
			 expenditures" are health care service costs that are covered by a health
			 maintenance organization and are rendered by providers not under contract with
			 the HMO. These are expenditures for health care services for which the HMO is
			 at risk.
(3) "Actuary" means a
			 member of the American Academy of Actuaries, a qualified Health Service
			 Corporation Actuary or a person who has demonstrated to the commissioner that
			 his qualifications are substantially equivalent to those required for such
			 qualification.
(4) "Community
			 rating system" means a system of fixing rates of payments for health services.
			 Under such system, rates of payments may be determined on a per-person or
			 per-family basis and may vary with the number of persons in a family, but
			 except as otherwise authorized, such rates must be equivalent for all
			 individuals and for all families of similar composition.
(5) "Capitation rates" are the per-person
			 rates which form the basis of a community rating system.
(6) "Contingency reserve" means the
			 unassigned funds held over and above any known or estimated liabilities of the
			 organization for the protection of its enrollees against insolvency of the
			 HMO.
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 39 - Motor Vehicle Reparations (No-fault) › Section 806 KAR 39:020 - Pedestrian defined

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.39-050(1)
NECESSITY, FUNCTION, AND CONFORMITY: Whereas,
				KRS
				304.39-050 defines "pedestrian." Because of
				the very nature of "pedestrian," the tremendous impact its exact meaning has
				upon policy forms and rates, it is necessary to define "pedestrian" with great
				specificity. The purpose of this administrative regulation is to establish a
				specificity for rating and policy form purposes.
Section 1. The sentence, "A pedestrian, as
			 used herein, means any person who is not an operator or user of a motor vehicle
			 at the time his injury occurs," as used in
			 KRS
			 304.39-050(1), is
			 interpreted to mean that a pedestrian is a person who is not actually
			 operating, riding in or upon, entering, or alighting from a "kind of motor
			 vehicle," as defined by insurance office administrative regulation at the time
			 his injury actually occurs.
STATUTORY AUTHORITY:
				  KRS
				  304.2-110,
				  304.39-300
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 39 - Motor Vehicle Reparations (No-fault) › Section 806 KAR 39:030 - Kentucky No-Fault Rejection Form

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.39-060
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.2-110 provides that the commissioner of
				the Department of Insurance may promulgate administrative regulations necessary
				for or as an aid to the effectuation of any provisions of the Kentucky
				Insurance Code.
				KRS
				304.39-060 requires the Department of
				Insurance to prescribe a form whereby any person may reject limitations on his
				or her tort rights and liabilities. This administrative regulation establishes
				the Kentucky No-Fault Rejection Form and provides for its electronic
				submission.
Section 1. Rejection. Any
			 person may refuse to consent to the limitation of his or her tort rights and
			 liabilities by filing with the Department of Insurance a Kentucky No-Fault
			 Rejection Form.
Section 2.
			 Submitting the Kentucky No-Fault Rejection Form.
(1) Members of the same household may
			 indicate rejections on the same form, but each household member shall execute
			 the form on his or her own behalf unless under legal disability, or a minor
			 under eighteen (18) years of age. The policyholder shall:
(a) Mail the original and one (1) copy of the
			 form to the Department of Insurance; or
(b) Submit the form electronically using the
			 online version of the "Kentucky No-Fault Rejection Form," available on the
			 department's Web site at
http://insurance.ky.gov
.
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 39 - Motor Vehicle Reparations (No-fault) › Section 806 KAR 39:040 - Governmental units excluded

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.39-080
NECESSITY, FUNCTION, AND CONFORMITY: KRS Chapter 304, Subtitle
				39, requires all other owners to either accept limitation on their tort rights
				and obligations or to affirmatively reject such limitations, but in the case of
				governmental units should take if they desire to become obligated
				governments.
Section 1. Governmental
			 units, as described in
			 KRS 304.39-080(3)
			 and (4), are not subject to KRS Chapter 304,
			 Subtitle 39, and need not take any affirmative action thereunder unless, and
			 until, by appropriate action, they elect to become obligated
			 governments.
Section 2. Any
			 governmental unit, which by appropriate action elects to become an obligated
			 government, may meet its obligations by:
(1)
			 Providing security by acquiring a contract of insurance, or
(2) By providing security merely by
			 obligating itself to pay basic reparation benefits in accordance with KRS
			 Chapter 304, Subtitle 39.
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 39 - Motor Vehicle Reparations (No-fault) › Section 806 KAR 39:070 - Proof of motor vehicle insurance

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				186.021(3),
				186A.040,
				186A.042,
				186A.095,
				304.39-080,
				304.39-083,
				304.39-085,
				304.39-087,
				304.39-090,
				304.39-117
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				186.021(3) authorizes the
				commissioner of the Department of Insurance to promulgate an administrative
				regulation to establish the manner for presenting proof of motor vehicle
				insurance to a county clerk.
				KRS
				304.2-110(1) and
				304.39-300 authorize the
				commissioner to promulgate administrative regulations necessary for or as an
				aid to enforce the insurance code.
				KRS
				304.39-117(1) requires the
				Department of Insurance to promulgate an administrative regulation that
				establishes the requirements for the proof of insurance that an insurer shall
				give to an insured. This administrative regulation establishes the requirements
				for the proof of insurance, the methods for reporting coverage provided for
				personal motor vehicles insured on a personal lines motor vehicle policy, the
				methods for presenting proof of motor vehicle insurance to a county clerk or
				peace officer, and the requirements for notifying the Department of Vehicle
				Regulation if a binder, contract, or commercial policy of motor vehicle
				insurance is cancelled or not renewed.
Section
			 1. Definitions.
(1)
			 "Commissioner" is defined by
			 KRS
			 304.1-050(1).
(2) "Department" is defined by
			 KRS
			 304.1-050(2).
(3) "Insurer" means an insurer defined by
			 KRS
			 304.1-040.
(4) "Motor vehicle insurance policy" means an
			 insurance contract that provides security covering a motor vehicle required to
			 be registered pursuant to
			 KRS
			 186.020 and insured pursuant to
			 KRS
			 186.021 and
			 304.39-080.
(5) "Person" is defined by
			 KRS
			 304.1-020.
(6) "Personal lines motor vehicle policy"
			 means an insurance policy, issued by an insurance carrier authorized to do
			 business in the Commonwealth of Kentucky, which insures a personal motor
			 vehicle.
(7) "VIN" means the
			 vehicle identification number of a motor vehicle.
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 40 - Health Care Malpractice › Section 806 KAR 40:020 - Charitable health care provider registration

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				216.941,
				304.40-075
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.2-110(1) authorizes the
				Commissioner of Insurance to promulgate administrative regulations necessary
				for or as an aid to the effectuation of any provision of the Kentucky Insurance
				Code.
				KRS
				304.40-075(3)(b) requires
				the department to promulgate administrative regulations to establish reasonable
				guidelines for the registration of charitable health care providers.
				KRS
				304.40-075(6) requires the
				department to determine if the profits made for medical professional liability
				insurance risks covered by that section are consistent with reasonable loss
				ratio guidelines. This administrative regulation establishes guidelines for the
				registration of charitable health care providers who seek to obtain
				reimbursement of paid premium for medical professional liability insurance, and
				also establishes reporting requirements for medical professional liability
				insurers for the purpose of determining reasonable loss ratios.
Section 1. To request reimbursement of paid
			 premium for medical professional liability insurance, a charitable health care
			 provider shall supply to the Department of Insurance the following information:
(1) The name and address of the
			 provider;
(2) The license number of
			 the provider;
(3) The source of
			 funding for the provider of charitable health care service;
(4) The number of employees who render
			 medical care without compensation or charge and without expectation of
			 compensation or charge and who shall be covered under the medical professional
			 liability insurance;
(5) The
			 expected number of patients who may be provided charitable health care services
			 in the year for which the insurer offers malpractice coverage;
(6) The health services provided by the
			 charitable health care provider;
(7) The following information regarding the
			 provider's medical professional liability insurance policy for which
			 reimbursement is being requested:
(a) A copy
			 of the entire policy, including the declarations page showing:
1. The name and address of the
			 insurer;
2. The effective date of
			 the policy;
3. The policy
			 number;
4. The total amount of
			 premium due; and
(b) The
			 itemized billing and proof of payment of the requested reimbursement
			 amount;
(8) A copy of
			 the registration filed with the Cabinet for Health and Family Services under
			 KRS
			 216.941; and
(9) Acknowledgment that the provider will
			 follow the risk management and loss prevention policies and procedures
			 established by the insurer.
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 44 - Mine Subsidence Insurance › Section 806 KAR 44:010 - Notification of qualified locations

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.1-050(1),
				304.44-010,
				304.44-020,
				304.44-060,
				304.44-120
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.2-110 authorizes the Commissioner of
				Insurance to promulgate reasonable administrative regulations necessary for or
				as an aid to the effectuation of any provision of the Kentucky Insurance Code,
				KRS
				304.1-010.
				KRS
				304.44-120 authorizes the administrator of
				the mine subsidence fund to supervise in all respects consistent with the
				provisions of KRS 304.44, the operation and management of the mine subsidence
				insurance program and to do all things necessary or convenient to accomplish
				the purpose of KRS 304.44. This administrative regulation establishes
				procedures for counties and urban-county governments to notify the commissioner
				of their decision to approve the availability of mine subsidence within the
				county and establishes an annual effective date for participation in the mine
				subsidence insurance program.
Section
			 1. Definitions.
(1)
			 "Commissioner" is defined by
			 KRS
			 304.1-050(1).
(2) "County" means a county, charter county,
			 urban-county government, or a consolidated local government.
(3) "Eligible location" means those counties
			 within the Commonwealth of Kentucky that have underground coal-bearing stratum
			 or underground coal mines.
(4)
			 "Mine subsidence insurance fund" is defined by
			 KRS
			 304.44-010(3).
(5) "Qualified location" means a county in
			 which the fiscal court had certified to the commissioner its approval of the
			 availability of mine subsidence insurance within that county.
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 46 - Liability Self-insurance Groups › Section 806 KAR 46:030 - Reasonable time for violation correction

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.48-220(1)(e)
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.48-230 states that the commissioner may
				promulgate reasonable administrative regulations necessary for the proper
				administration of KRS Chapter 304 Subtitle 48. Pursuant to
				KRS
				304.48-220(1)(e), the
				commissioner should establish a reasonable time period for a liability
				self-insurance group to correct a violation of KRS Chapter 304 Subtitle 48 or
				related administrative regulations.
Section
			 1. If a liability self-insurance group fails to correct a
			 violation of KRS Chapter 304 Subtitle 48 or related administrative regulations
			 within thirty (30) days of receiving notice of the violation pursuant to
			 KRS
			 304.2-120, the commissioner may suspend or
			 revoke the certificate of filing of the liability self-insurance
			 group.
Section 2. Additional thirty
			 (30) day time periods may be granted by the commissioner upon a showing by the
			 liability self-insurance group and determination by the commissioner of good
			 cause for each extension. A request for extension shall be submitted in writing
			 not less than ten (10) days prior to the running of each thirty (30) day time
			 period. The request for extension shall contain sufficient detail to permit the
			 commissioner to make an informed decision.
Section 3. A liability self-insurance group
			 shall notify the commissioner in writing and provide supporting documentation
			 immediately upon correcting a violation of KRS Chapter 304 Subtitle 48 or
			 related administrative regulations.
STATUTORY AUTHORITY:
				  KRS
				  304.48-230,
				  304.48-220(1)(e)
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 46 - Liability Self-insurance Groups › Section 806 KAR 46:040 - Forms for application and financial statements

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.1-050,
				304.48-020(7),
				304.48-050,
				304.48-070,
				304.48-170,
				304.48-230
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.48-230 permits the commissioner to
				promulgate administrative regulations as necessary for the proper
				administration of KRS Chapter 304.48.
				KRS
				304.48-050 requires a proposed liability
				self-insurance group to file an application on a form approved by the
				commissioner.
				KRS
				304.48-070 permits the commissioner to
				require a liability self-insurance group to provide a security deposit to the
				commissioner in the form and amount prescribed by the commissioner.
				KRS
				304.48-170 requires liability self-insurance
				groups to file statements of financial condition on a form prescribed by the
				commissioner. This administrative regulation prescribes the required forms for
				application, security deposits and financial statements.
Section 1. Definitions.
(1) "Commissioner" is defined in
			 KRS
			 304.1-050(1).
(2) "Department" is defined in
			 KRS
			 304.1-050(2).
(3) "Liability self-insurance group" is
			 defined in
			 KRS
			 304.48-020(7).
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 46 - Liability Self-insurance Groups › Section 806 KAR 46:050 - Liability self-insurance group rate, underwriting and evidence of coverage filings

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.1-050,
				304.13-011,
				304.13-051,
				KRS
				304.14-120,
				304.48-020(7),
				304.48-180,
				304.48-200
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.48-230 authorizes the commissioner to
				promulgate reasonable administrative regulations consistent with KRS 304
				Subtitle 48 that the commissioner deems necessary for the proper administration
				of the subtitle.
				KRS
				304.48-180 requires liability self-insurance
				groups to file rates, underwriting guidelines, evidence of coverage and any
				changes therein with the commissioner. This administrative regulation
				establishes the procedures for liability self-insurance groups to submit these
				filings.
Section 1. Definitions.
(1) "Commissioner" is defined by
			 KRS
			 304.1-050(1).
(2) "Liability self-insurance group" is
			 defined by
			 KRS
			 304.48-020(7).
(3) "Rates and underwriting guidelines" means
			 any rating manuals and underwriting rules for all coverage types including any
			 manual or plan of rates, loss costs, risk classifications, rating schedule,
			 minimum premium, policy fees, premium payment plans, rating rules,
			 supplementary rating information or any other similar information needed to
			 determine the applicable coverage rate or premium for a member.
(4) "Supplementary rating information" is
			 defined by
			 KRS
			 304.13-011(2).
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 47 - Insurance Fraud › Section 806 KAR 47:010 - Fraud prevention

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.2-140,
				304.47-010,
				304.47-020,
				304.47-040,
				304.47-050
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.2-110(1) authorizes the
				Commissioner of Insurance to promulgate administrative regulations necessary
				for or as an aid to the effectuation of any provision of the Kentucky Insurance
				Code as established in
				KRS
				304.1-010. This administrative regulation
				establishes insurer requirements and a comprehensive process for reporting and
				investigating fraudulent insurance acts.
Section
			 1. Definitions.
(1) "Division"
			 is defined by
			 KRS
			 304.47-010(6).
(2) "Special investigative unit" or "SIU"
			 means a unit to investigate fraudulent insurance acts as established by
			 KRS
			 304.47-080.
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 49 - Captive Insurers › Section 806 KAR 49:020 - Captive insurer application requirements

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO: KRS 304.49-010-304.49-230
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.2-110 provides that the Commissioner of
				Insurance may promulgate administrative regulations necessary for or as an aid
				to the effectuation of any provisions of the Kentucky Insurance Code.
				KRS
				304.49-140 authorizes the Commissioner of
				Insurance to establish and amend administrative regulations related to captive
				insurance companies as necessary to effectuate the provisions of
				KRS
				304.49-010 to
				304.49-230.
				KRS
				304.49-020(3) authorizes the
				Commissioner of Insurance to promulgate administrative regulations concerning
				the application for a certificate of authority for captive insurers. This
				administrative regulation establishes application requirements for the
				regulation of captive insurers.
Section
			 1. Definition. "Company" means the captive insurer.
Section 2. A captive insurer seeking to
			 obtain a certificate of authority to engage in insurance business in Kentucky
			 shall apply to the Kentucky Department of Insurance by completing and filing
			 the following forms:
(1) Captive Application
			 for Admission, CI-103;
(2) Coverage
			 Limits and Reinsurance, CI-105;
(3)
			 Irrevocable Letter of Credit CI-130;
(4) Application for Authorization to Certify
			 Loss Reserves and Loss Expense Reserves for Captives CI-110;
(5) Application for Authorization as an
			 Independent Certified Public Accountant for Captive Insurance Business CI-120;
			 and
(6) Biographical Affidavit
			 CI-501.
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 49 - Captive Insurers › Section 806 KAR 49:050 - Captive risk retention groups

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.1-050,
				304.3-400
				- 304.3-430, 304.3-500 - 304.3-570, 304.5-130, 304.5-140, 304.5-150,
				304.9-020(10), 304.9-700 - 304.9-759, 304.24-100, 304.37-010 - 304.37-150,
				304.45-020(11), 304.45-030, 304.49-010, 304.49-060, 304.49-110,
				304.49-170
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.2-110 authorizes the Commissioner of
				Insurance to make administrative regulations necessary for or as an aid to the
				effectuation of any provisions of the Kentucky Insurance Code as defined in
				KRS
				304.1-010.
				KRS
				304.49-140 permits the commissioner to
				establish administrative regulations relating to captive insurance companies
				that are necessary to carry out the provisions of
				KRS
				304.49-010 to
				304.49-230.
				This administrative regulation provides reinsurance, financial solvency, and
				consumer protection requirements for captive risk retention groups.
Section 1. Definitions.
(1) "Captive insurer" is defined by
			 KRS
			 304.49-010(3).
(2) "Commissioner" is defined by
			 KRS
			 304.1-050(1).
(3) "Department" is defined by
			 KRS
			 304.1-050(2).
(4) "Insurance producer" is defined by
			 KRS
			 304.9-020(10).
(5) "Protected cell" is defined by
			 KRS
			 304.49-010(20).
(6) "Reinsurance intermediary" is defined by
			 KRS
			 304.9-700(5).
(7) "Risk retention group" is defined by
			 KRS
			 304.45-020(11).
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 52 - Workers' Compensation Self-insured Groups › Section 806 KAR 52:010 - Forms for application, security deposits and financial statements

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO: KRS 304.50
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.50-010(2) requires the
				commissioner to promulgate administrative regulations as necessary to govern
				admission, certification, and regulation of workers' compensation self-insured
				groups.
				KRS
				304.50-030(1) requires a
				workers' compensation self-insured group seeking initial certification to file
				an application on a form approved by the commissioner.
				KRS
				304.50-050(1) requires a
				workers' compensation self-insured group to provide a security deposit to the
				commissioner on a form prescribed by the commissioner.
				KRS
				304.50-050(2) authorizes
				trustees to file cash, cash equivalents, United States Treasuries or a bank
				letter of credit in satisfaction of the security deposit requirement, on a form
				prescribed by the commissioner.
				KRS
				304.50-060(4) requires
				workers' compensation self-insured groups to file statements of financial
				condition on a form prescribed by the commissioner. This administrative
				regulation prescribes the required forms for application, security deposits,
				and financial statements.
Section 1.
			 Definitions.
(1) Commissioner is defined by
			 KRS
			 304.1-050(1).
(2) Department is defined by
			 KRS
			 304.1-050(2).
(3) "Self-Insured group" is defined by
			 KRS
			 304.50-015(29).
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 52 - Workers' Compensation Self-insured Groups › Section 806 KAR 52:020 - Aggregate excess insurance

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.50-120,
				342.906
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.50-010(2), requires the
				commissioner to promulgate administrative regulations as necessary to govern
				admission, certification and regulation of workers' compensation self-insured
				groups.
				KRS
				304.50-120(1), requires the
				commissioner to promulgate administrative regulations setting forth the
				requirements for aggregate excess insurance and the standards for granting a
				waiver. This administrative regulation establishes requirements for aggregate
				excess insurance and for requesting a waiver from the requirement to obtain
				aggregate excess insurance.
Section 1.
			 Definitions.
(1) "Commissioner" means the
			 Commissioner of the Department of Insurance.
(2) "Department" means the Department of
			 Insurance.
(3) "Group" means a
			 Self-insured group.
(4)
			 "Self-insured group" is defined in
			 KRS
			 304.50-015(29).
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 52 - Workers' Compensation Self-insured Groups › Section 806 KAR 52:030 - Workers' compensation self-insured group rate, rule and form filings

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.4-010,
				304.13-053,
				304.14-120,
				304.50-010,
				304.50-115,
				304.50-055,
				304.50-065
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.50-010(2), requires the
				Commissioner of the Department of Insurance to promulgate administrative
				regulations as necessary to govern admission certification and regulation of
				workers' compensation self-insured groups.
				KRS
				304.50-115, requires workers' compensation
				self-insured groups to file rates, supplementary rating information, and
				coverage form filings with the commissioner. This administrative regulation
				establishes workers' compensation self-insured group rate, rule and form filing
				procedures.
Section 1. Definitions.
(1) "Coverage form" is defined by
			 KRS
			 304.50-015(10).
(2) "Commissioner" is defined by
			 KRS
			 304.1-050(1).
(3) "Department" is defined by
			 KRS
			 304.1-050(2).
(4) "Self-insured group" is defined by
			 KRS
			 304.50-015(29).
Kentucky Administrative Regulations › Title 807 - ENERGY AND ENVIRONMENT CABINET PUBLIC SERVICE COMMISSION › Chapter 5 - Utilities › Section 807 KAR 5:001 - Rules of procedure

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO: KRS 61.870-884, 61.931-934,
				65.810,
				Chapter 74, 278.010, 278.020(3), 278.100, 278.180, 278.300, 278.410, 322.340,
				365.015, 369.102, 424.300,
				45
				C.F.R. 160.103, 47 C.F.R. 36,
				20 U.S.C.
				1232g
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				278.040(3) authorizes the
				commission to promulgate reasonable administrative regulations to implement the
				provisions of KRS Chapter 278.
				KRS
				278.310 requires that all hearings and
				investigations before the commission shall be governed by rules promulgated by
				the commission. This administrative regulation establishes requirements with
				respect to formal and informal proceedings before the commission.
Section 1. Definitions.
(1) "Affiliate" means an entity:
(a) That is wholly owned by a
			 utility;
(b) In which a utility has
			 a controlling interest;
(c) That
			 wholly owns a utility;
(d) That has
			 a controlling interest in a utility; or
(e) That is under common control with the
			 utility.