reglab/statecodes huggingface dataset:
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 9 - Agents, Consultants, Solicitors and Adjusters › Section 806 KAR 9:370 - Preneed funeral agent license

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.1-050(2),
				304.4-010,
				304.9-020(1),
				304.9-080,
				304.9-150,
				304.9-230,
				304.9-260
				304.12-240(1)(a)
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.2-110 authorizes the commissioner to
				promulgate administrative regulations necessary for or as an aid to the
				effectuation of any provision of the Kentucky Insurance Code.
				KRS
				304.9-230 authorizes the commissioner to
				issue an agent's license with the limited line of authority for other limited
				lines of authority, and requires the commissioner to promulgate administrative
				regulations to establish the requirements, if any, for pre-licensing courses of
				instruction and examination for each limited line of authority. This
				administrative regulation establishes the preneed funeral limited line of
				authority and the requirements for licensure.
Section 1. Definitions.
(1) "Agent" is defined by
			 KRS
			 304.9-020(1).
(2) "Department" is defined by
			 KRS
			 304.1-050(2).
(3) "Preneed funeral contract or
			 prearrangement" is defined by
			 KRS
			 304.12-240(1)(a).
(4) "Preneed funeral insurance" means a life
			 insurance or annuity contract used solely to fund a preneed funeral contract or
			 prearrangement.
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 9 - Agents, Consultants, Solicitors and Adjusters › Section 806 KAR 9:380 - Limited Lines Self-Service Storage Space Insurance Requirements

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.4-010,
				304.9-030,
				304.9-105,
				304.9-130,
				304.9-150,
				304.9-230,
				304.9-260,
				304.9-270,
				304.9-495,
				304.9-497
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.2-110 authorizes the commissioner to
				promulgate administrative regulations necessary for or as an aid to the
				effectuation of any provision of the Kentucky Insurance Code.
				KRS
				304.9-080 requires a self-service storage
				space insurance producer to be licensed and requires the commissioner to
				prescribe and furnish all forms required under KRS Chapter 304.9 as to licenses
				and appointments.
				KRS
				304.9-496 requires the commissioner to
				prescribe a register form for a limited lines of self-service storage space
				insurance producer for the purpose of maintaining a list of each facility that
				offers this insurance on the producer's behalf. This administrative regulation
				establishes the information to be included in the application for a limited
				lines self-service insurance storage space producer, the recordkeeping
				requirements for a self-service storage facility and their employees who offer
				and disseminate self-service storage space insurance, and the register
				form.
Section 1. Definitions.
(1) "Limited lines self-service storage space
			 insurance producer" is defined by
			 KRS
			 304.9-495(1).
(2) "Self-service storage facility" is
			 defined by
			 KRS
			 304.9-495(6).
(3) "Self-service storage space insurance" is
			 defined by
			 KRS
			 304.9-495(7).
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 9 - Agents, Consultants, Solicitors and Adjusters › Section 806 KAR 9:390 - Portable Electronics Retailer license

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.4-010,
				304.9-020,
				304.9-440,
				304.9-782,
				304.9-784
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.2-110 authorizes the commissioner to
				promulgate administrative regulations necessary for or as an aid to the
				effectuation of any provision of the Kentucky Insurance Code.
				KRS
				304.9-780 authorizes the commissioner to
				issue a portable electronics insurance retailer license to offer and
				disseminate portable electronics insurance and requires the commissioner to
				promulgate administrative regulations to establish the requirements for
				licensure. This administrative regulation establishes the information to be
				included in the application for a portable electronics insurance retailer
				license, and recordkeeping requirements for portable electronics insurance
				retailers and their employees who offer and disseminate portable electronics
				insurance.
Section 1. Definitions.
(1) "Portable electronics" is defined by
			 KRS
			 304.9-020(16).
(2) "Portable electronics insurance" is
			 defined by
			 KRS 304.9-020(17)(a) and
			 (b).
(3) "Portable electronics insurance
			 supervising entity" is defined by
			 KRS
			 304.9-020(18).
(4) "Portable electronics retailer" is
			 defined by
			 KRS
			 304.9-020(19).
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 9 - Agents, Consultants, Solicitors and Adjusters › Section 806 KAR 9:400 - Public adjuster filings

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO: KRS 304.9-020, 304.9-430, 304.9-433, 304.9-435,
				304.9-440
NECESSITY, FUNCTION, AND CONFORMITY: KRS 304.2-110 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 defined in KRS 304.1-010. KRS 304.9-433 requires public
				adjusters to file a form to be approved by the commissioner prior to executing
				a contract with an insured. This administrative regulation sets forth the
				prefiling requirements for public adjusters prior to executing a contract with
				an insured.
Section 1. Definitions.
(1) "Commissioner" is defined by KRS 304.1-050(1).
(2) "Catastrophe" is
			 defined by KRS 304.9-020(6).
(3)
			 "Department" is defined by KRS 304.1-050(2).
(4) "Emergency circumstance" means:
(a) A catastrophe; or
(b) An event that results in a declaration of
			 emergency by the Governor pursuant to KRS 39A.100.
(5) "Public adjuster" is defined by KRS 304.9-020(20).
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 10 - Surplus Lines › Section 806 KAR 10:030 - Surplus lines reporting and tax payment structure

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.1-070,
				304.10-030,
				304.10-040,
				304.10-180,
				304.99-085
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 304.1010.
				KRS 304.10-050
				requires a surplus lines broker to file an affidavit setting forth facts from
				which it can be determined if the insurance was eligible for export under
				KRS
				304.10-040.
				KRS
				304.10-170 requires the commissioner to
				establish the form of the verified statement of all surplus lines transactions
				for a preceding calendar quarter.
				KRS
				304.10-210 requires the commissioner to
				promulgate administrative regulations to effectuate the Surplus Lines Law. This
				administrative regulation establishes the reporting procedures to be used by
				surplus lines brokers for the reporting and payment of surplus lines tax
				pursuant to
				KRS
				304.10-170 and
				304.10-180.
Section 1. Affidavit Reporting.
(1) A licensed surplus broker shall file
			 electronically a Kentucky Surplus Lines Affidavit of Insurance Transactions
			 with the department within fifteen (15) days after the invoice date or
			 effective date of each premium bearing surplus lines transaction, whichever
			 occurs later.
(2) The affidavit
			 shall be filed electronically through the Department of Insurance's secure Web
			 site at
https://insurance.ky.gov/doieservices/UserRole.aspx
.
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 11 - Unauthorized Insurers' Prohibitions, Process and Advertising › Section 806 KAR 11:010 - Industrial insured, government entity insured, and exempt commercial policyholder

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.11-020,
				304.13-051,
				304.14-120
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.2-110 provides that the Executive
				Director of Insurance shall promulgate reasonable rules and administrative
				regulations necessary for or as an aid to the effectuation of any provision of
				the Kentucky Insurance Code. This administrative regulation provides the means
				by which the Executive Director may determine whether a proposed insured meets
				the definition of an "industrial insured", a "government entity insured", and
				an "exempt commercial policyholder".
Section
			 1.
(1) An "industrial insured"
			 as defined in
			 KRS
			 304.11-020(2)(a), shall be
			 an insured who filed an affidavit to the executive director prior to July 1,
			 1999, establishing that it satisfied the then-existing criteria for obtaining
			 that status.
(2) All "industrial
			 insureds" shall reapply for their status, prior to December 31, 2000, by filing
			 with the executive director an "Industrial Insured Affidavit" (Form II-1 P
			 & C) for his approval, certifying that the requirements of
			 KRS
			 304.11-020(2)(a) continue to
			 be satisfied.
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 11 - Unauthorized Insurers' Prohibitions, Process and Advertising › Section 806 KAR 11:020 - Multiple employer welfare arrangements

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.1-050,
				304.1-120,
				304, 304.2-160, 304.2-165 304.5-040, 304.9-020, 304.9-051, 304.11-030,
				304.11-045, 304.17A-005(22), 304.17A-410(7), 304.17A-600, 304.17A-633,
				304.17A-802, 304.17A-812, 304.99-020,
				29
				U.S.C. §
									1002(40).
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.2-110 authorizes the Commissioner of
				Insurance to make reasonable administrative regulations necessary for or as an
				aid to the effectuation of any provision of the Kentucky Insurance Code.
				KRS
				304.4-010 requires the commissioner to
				established the fees charged by the department and the services for which fees
				shall be charged by administrative regulation. This administrative regulation
				requires multiple employer welfare arrangements to provide information to the
				Commissioner of Insurance so the Commissioner of Insurance can enforce
				applicable laws. This administrative regulation also identifies the provisions
				of the Insurance Code that will be applicable to multiple employer welfare
				arrangements.
Section 1. Definitions.
(1) "Administrator" is defined by
			 KRS
			 304.9-051(1).
(2) "Agent" is defined by
			 KRS
			 304.9-020(1).
(3) "Commissioner" is defined by
			 KRS
			 304.1-050(1).
(4) "Department" is defined by
			 KRS
			 304.1-050(2).
(5) "Health benefit plan" is defined by
			 KRS
			 304.17A-005(22).
(6) "Health insurance policy" means "health
			 benefit plan" as defined by
			 KRS
			 304.5-040.
(7) "Health insurance stop-loss policy" is
			 defined by
			 KRS
			 304.17A-410(7).
(8) "MEWA" or "multiple employer welfare
			 arrangement":
(a) Is defined by
			 29
			 U.S.C. 1002(40);
			 and
(b) Does not mean an
			 arrangement under which health care benefits are fully insured by an insurer
			 authorized to do business in Kentucky.
(9) "Person" is defined by
			 KRS
			 304.1-020.
(10) "Private review agent" is defined by
			 KRS
			 304.17A-600(11).
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 12 - Trade Practices and Frauds › Section 806 KAR 12:010 - Advertising of accident and sickness benefits

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.3-200,
				304.3-240,
				304.12-010,
				304.12-020,
				304.12-060,
				304.12-120,
				304.12-130,
				304.99
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
				clarifies the minimum standards for advertising as established in
				KRS
				304.12-010 and
				304.12-020.
Section 1. Definitions.
(1) "Exception" means:
(a) Any provision in a policy in which
			 coverage for a specified hazard is eliminated; or
(b) A statement of risk not assumed under the
			 policy.
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 12 - Trade Practices and Frauds › Section 806 KAR 12:020 - Fair disclosure to consumers

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.1-050,
				304.2-310,
				304.9-440,
				304.12-010,
				304.12-020,
				304.12-040,
				304.12-110,
				304.12-130,
				304.14-120
				to
				304.14-180
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 standards to assure fair disclosure to insurance consumers.
Section 1. Definitions.
(1) "Agent" is defined by
			 KRS
			 304.9-020.
(2) "Commissioner" is defined by
			 KRS
			 304.1-050(1).
(3) "Consultant" is defined by
			 KRS
			 304.9-040.
(4) "Department" is defined by
			 KRS
			 304.1-050(2).
(5) "Insurer" is defined by
			 KRS
			 304.1-050.
(6) "Person" is defined by
			 KRS
			 304.1-020.
(7) "Pure endowment benefit" means a
			 guaranteed insurance benefit, actuarially determined, the payment of which is
			 contingent upon the survival of the insured to a specified point in
			 time.
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 12 - Trade Practices and Frauds › Section 806 KAR 12:040 - Insurance in credit transactions

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.14-040
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.2-110 provides that the Executive
				Director of Insurance shall make reasonable rules and regulations necessary for
				or as an aid to the effectuation of any provision of the Kentucky Insurance
				Code. This administrative regulation provides the respective rights and
				obligations of the vendor and vendee where insurance is procured on property
				sold in a credit transaction.
Section
			 1. In a finance or loan transaction wherein the vendee refuses or
			 for any reason fails to provide reasonable insurance protection against loss
			 from physical damage, an insurer may, at the request of the dealer, finance
			 factor, or lender, provide such insurance protection.
Section 2. Where the dealer, finance factor,
			 or lender requests and secures such protection, no part of the cost thereof
			 shall be charged to the vendee unless losses payable thereunder shall be for
			 the benefit of the vendee as well as the dealer, finance factor, or lender. In
			 the event a loss is payable under such policy where any part of the cost of
			 such protection is charged to the vendee, it shall be applied toward
			 restoration of the damaged subject of the transaction or toward reduction of
			 the balance of the debt, if any remains, arising out of the
			 transaction.
Section 3. When
			 insuring motor vehicle or aircraft, the title page of a policy providing single
			 interest protection for the sole benefit of the dealer, finance factor, or
			 lender must have clearly stamped or printed in not less than fourteen (14)
			 point type the words: "This policy does not provide protection:
(1) To the buyer of the property insured
			 hereunder;
(2) Against legal
			 liability to persons or property of third parties."
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 12 - Trade Practices and Frauds › Section 806 KAR 12:060 - Health insurance replacement

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.14-120
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.2-110 provides that the Executive
				Director of Insurance may make reasonable rules and regulations necessary for
				or as an aid to the effectuation of any provision of the Kentucky Insurance
				Code. This administrative regulation safeguards the interests of persons
				covered under health insurance including indemnity insurance who consider
				replacing their insurance by making available to them information regarding
				replacement and thereby reducing the opportunity for misrepresentation and
				other unfair practices and methods of competition in the insurance
				business.
Section 1. This
			 administrative regulation shall apply to the solicitation of health insurance
			 covering residents of this state issued by insurance corporations, fraternal
			 benefit societies or nonprofit service plans in accordance with
			 KRS
			 304.14-120.
Section 2. This administrative regulation
			 shall not apply to the solicitation of the following accident and sickness
			 insurance:
(1) Group or blanket;
(2) Accident only;
(3) Single premium nonrenewable;
(4) Nonprofit dental care;
(5) Nonprofit prepaid optometric
			 service;
(6) Under which dental
			 expenses only, prescription expenses only, vision care expenses only or blood
			 service expenses only are covered;
(7) Conversion to another individual or
			 family policy in the same insurer with continuous coverage;
(8) Conversion to an individual or family
			 policy to replace group, blanket coverage in the same insurer;
(9) Change to a Medicare supplement policy
			 which covers preexisting conditions, without any limitation, to replace a basic
			 hospital expense, basic medical expense, basic surgical expense, or major
			 medical expense policy.
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 12 - Trade Practices and Frauds › Section 806 KAR 12:070 - Life insurance application requirements

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.14-090,
				304.14-120
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.2-110 authorizes the Executive Director
				of Insurance to promulgate reasonable rules and 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. EO 2009-535, effective June 12,
				2009, established the Department of Insurance and the Commissioner of Insurance
				as the head of the department. This administrative regulation requires that an
				application for life insurance which was personally solicited by an agent to
				include the location where the application was signed and to be signed by the
				applicant.
Section 1. An application
			 for life insurance solicited personally by an agent shall include the location
			 where the application is signed and the applicant's signature.
STATUTORY AUTHORITY:
				  KRS
				  304.2-110, EO
				  2009-535
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 12 - Trade Practices and Frauds › Section 806 KAR 12:150 - Annuity disclosures

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.12-010,
				304.12-020,
				304.12-230,
				26 U.S.C.
				401,
				403,
				414,
				457,
				29 U.S.C.
				1001-1461
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.2-110(1) authorizes the
				Commissioner of the Department of Insurance to promulgate administrative
				regulations necessary for or as an aid to the effectuation of any provision of
				the Kentucky Insurance Code, KRS Chapter 304. This administrative regulation
				requires insurers to deliver information to purchasers of annuities that will
				improve the buyer's ability to select the most appropriate annuity for the
				buyer's needs and improve the buyer's understanding of the basic features of
				the product that has been purchased or is under consideration.
Section 1. Definitions.
(1) "Buyer's Guide" means the current
			 National Association of Insurance Commissioner's approved Annuity Buyer's
			 Guide.
(2) "Charitable gift
			 annuity" is defined in
			 KRS
			 304.1-120(6)(b).
(3) "Contract owner" means the owner named in
			 the annuity contract or certificate holder in the case of a group annuity
			 contract.
(4) "Funding agreement"
			 means an agreement for an insurer to accept and accumulate funds and to make
			 one (1) or more payments at future dates in amounts that are not based on
			 mortality or morbidity contingencies.
(5) "Generic name" means a short title
			 descriptive of the annuity contract being applied for or illustrated.
(6) "Guaranteed elements" means the premiums
			 and credited interest rates, including any bonus, benefits, values, noninterest
			 based credits, charges, or elements of formulas used to determine any of these,
			 that are guaranteed and determined at issue. An element is guaranteed if all of
			 the underlying elements that go into its calculation are guaranteed.
(7) "Illustration" means a personalized
			 presentation or depiction prepared for and provided to an individual consumer
			 that includes nonguaranteed elements of an annuity contract over a period of
			 years.
(8) "Nonguaranteed elements"
			 means the premiums and credited interest rates including any bonus, benefits,
			 values, non-interest based credits, charges, or elements of formulas used to
			 determine any of these, that are subject to company discretion and are not
			 guaranteed at issue. An element is nonguaranteed if any of the underlying
			 nonguaranteed elements are used in its calculation.
(9) "Registered Product" means an annuity
			 contract or life insurance policy subject to the prospectus delivery
			 requirements of the Securities Act of 1933.
(10) "Structured settlement annuity" means:
(a) A "qualified funding asset" as defined in
			 26 U.S.C.
			 130(d); or
(b) An annuity that would be a qualified
			 funding asset pursuant to
			 26 U.S.C.
			 130(d) except for the fact
			 that it is not owned by an assignee under a qualified assignment.
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 12 - Trade Practices and Frauds › Section 806 KAR 12:160 - Standards for accelerated death benefits

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.6-170,
				304.6-171,
				304.12-010,
				304.12-020,
				304.12-235,
				304.14-600(2),
				304.15-115
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.2-110(1) authorizes the
				Executive Director of the Office of Insurance to promulgate administrative
				regulations necessary for or as an aid to the effectuation of any provision of
				the Kentucky Insurance Code, KRS Chapter 304. This administrative regulation
				establishes standards for accelerated death benefits in individual life
				insurance forms.
Section 1.
			 Definitions.
(1) "Accelerated death benefit"
			 means the advance payment of some or all of the death proceeds payable pursuant
			 to a life insurance policy:
(a) To the owner,
			 during the lifetime of the insured triggered by a qualifying event;
(b) That reduces the death benefit otherwise
			 payable under the policy through a present value payment or imposition of a
			 lien upon the death benefits; and
(c) That are payable upon the occurrence of
			 any single qualifying event.
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 12 - Trade Practices and Frauds › Section 806 KAR 12:170 - Life insurance disclosures

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.12-010,
				304.12-020,
				304.12-230
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 Chapter 304. This administrative regulation establishes requirements
				for insurers to deliver information to purchasers of life insurance that is
				designed to improve the buyer's ability to select the most appropriate plan of
				life insurance for the buyer's needs and improve the buyer's understanding of
				the basic features of the policy that has been purchased or is under
				consideration.
Section 1. Definitions.
(1) "Buyer's Guide" means the current Life
			 Insurance Buyer's Guide published by the National Association of Insurance
			 Commissioners.
(2) "Current scale
			 of nonguaranteed elements" means a formula or other mechanism that produces
			 values for an illustration as if there is no change in the basis of those
			 values after the time of illustration.
(3) "Generic name" means a short title that
			 is descriptive of the premium and benefit patterns of a policy or a
			 rider.
(4) "Nonguaranteed elements"
			 means the premiums, credited interest rates, including any bonus, benefits,
			 values, non-interest based credits, charges, or elements of formulas used to
			 determine any of these, that are subject to company discretion and are not
			 guaranteed at issue. An element is considered nonguaranteed if any of the
			 underlying nonguaranteed elements are used in its calculation.
(5) "Policy data" means a display or schedule
			 of numerical values, both guaranteed and nonguaranteed, for each policy year or
			 a series of designated policy years of the following information:
(a) Illustrated annual, other periodic, and
			 terminal dividends;
(b)
			 Premiums;
(c) Death benefits;
			 and
(d) Cash surrender values,
			 outstanding policy loans, current policy loan interest rate, and endowment
			 benefits.
(6) "Policy
			 summary" means a separate document describing the elements of the policy and
			 complying with the requirements established in Section 3 of this administrative
			 regulation.
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 12 - Trade Practices and Frauds › Section 806 KAR 12:180 - Military sales practices

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.1-040,
				304.5-020,
				304.5-030,
				304.9-020,
				304.12-010,
				304.12-030,
				304.15-310,
				12 C.F.R. 205, 230, 707,
				10 U.S.C.
				992,
				12 U.S.C.
				4301,
				26 U.S.C.
				401(a), (k),
				403(b),
				408(k),
				(p),
				414,
				457,
				501(c)(23),
				29 U.S.C.
				1001,
				38
				U.S.C. 1965,
				Pub.L.
				109-290
NECESSITY, FUNCTION AND CONFORMITY:
				KRS
				304.12-257 authorizes the commissioner to
				promulgate administrative regulations to protect service members of the United
				States Armed Forces from dishonest insurance marketing and sales practices.
				Pub.L.
				109-290 requires the states to collectively work
				with the Secretary of Defense to ensure implementation of appropriate standards
				to protect members of the Armed Forces from dishonest and predatory insurance
				sales practices while on a military installation of the United States and
				requires each state to identify its role in promoting the standards in a
				uniform manner. This administrative regulation establishes standards to protect
				active duty service members of the United States Armed Forces from dishonest
				and predatory insurance sales practices by declaring certain identified
				practices to be false, misleading, deceptive, or unfair.
Section 1. Definitions.
(1) "Active duty":
(a) Means full-time duty in the active
			 military service of the United States and includes members of the reserve
			 component, both the National Guard and Reserve, while serving under published
			 orders for active duty or full-time training; and
(b) Does not mean members of the reserve
			 component who are performing active duty or active duty for training under
			 military calls or orders specifying periods of less than thirty-one (31)
			 calendar days.
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 13 - Rates and Rating Organizations › Section 806 KAR 13:020 - Excess rates; consent form

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.13-051
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 that an insurer and applicant shall file a form confirming the
				applicant's consent to the, if any, excess rate charged.
Section 1.
(1) For rates required to be filed with the
			 department in accordance with
			 KRS
			 304.13-051, if an insurer and an applicant
			 for insurance contemplated by KRS Subtitle 304.13 consent to rates to be
			 charged in any specific instance in excess of those filed by or on behalf of
			 the insurer, the insurer shall, within ten (10) days following the effective
			 date of the policy, file with the commissioner a statement signed by the
			 applicant that shall include:
(a) The policy
			 number;
(b) The inception and
			 expiration dates;
(c) The name and
			 address of the agent of record;
(d)
			 The name of the insurer;
(e) The
			 name and address of the insured;
(f) The limits of coverage;
(g) The total premium charged;
(h) The fact that the rate exceeds the filed
			 rate;
(i) The reasons that the rate
			 exceeds the filed rate; and
(j)
			 That the insured has consented to the excess rate.
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 13 - Rates and Rating Organizations › Section 806 KAR 13:040 - Automobile fleet insurance defined

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.13-121
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.2-110 authorizes the Commissioner of
				Insurance to make reasonable rules and administrative regulations necessary for
				or as an aid to the effectuation of any provision of the Kentucky Insurance
				Code. This administrative regulation provides a uniform definition for purposes
				of "fleet" insurance on automobiles.
Section
			 1. For purposes of vehicle damage or liability coverage, a fleet
			 of automobiles is defined as five (5) or more private passenger or commercial
			 automobiles owned and operated by an individual partnership, firm, or
			 corporation.
Section 2. A leased
			 automobile may be construed as an "owned automobile," if:
(1) There is a written agreement of lease for
			 a term of not less than one (1) year; and
(2) The lease agreement stipulates that
			 lessor shall not enjoy the use or control of the leased vehicle during the term
			 of the lease.
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 13 - Rates and Rating Organizations › Section 806 KAR 13:090 - Premium financing

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.13-051,
				304.13-071,
				304.13-031,
				304.30-090
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.2-110 provides that the Commissioner of
				Insurance may make reasonable rules and administrative regulations necessary
				for or as an aid to the effectuation of any provision of the Kentucky Insurance
				Code. This administrative regulation permits additional charges to be made on
				insurance premiums when the premiums are made in installments.
Section 1. A property or casualty insurer,
			 after filing with and approved by the Commissioner of Insurance, may charge a
			 different rate for insurance when the premium therefor is payable in
			 installments rather than in cash.
Section
			 2. Additional charges based on installment payments shall not
			 exceed those permitted to be charged by premium finance companies; nor shall
			 such financing be on terms less favorable to insureds than are permitted in
			 financing by premium finance companies.
Section
			 3. Gross premiums on any policies, whether arising from cash rate
			 premiums, installment service charges, or any other surcharges approved by the
			 commissioner, shall be used as the basis upon which premium taxes shall be
			 determined.
STATUTORY AUTHORITY:
				  KRS
				  304.2-110
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 13 - Rates and Rating Organizations › Section 806 KAR 13:110 - Rate standards for property and casualty insurance "flex rating"

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.13-051
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. This
				administrative regulation prescribes the rate standards which must be met by
				property and casualty insurance rate filings subject to the "flex rating"
				provisions of
				KRS
				304.13-051.
Section 1. Property and casualty insurance
			 rates subject to prior approval by the Commissioner of Insurance under
			 KRS
			 304.13-051(5)(b) shall be
			 made in accordance with the following provisions:
(1) Manual, minimum, class rates, rating
			 schedules, or rating plans shall be made and adopted, except in the case of
			 specific inland marine rates on risks specially rated;
(2) Rates shall not be excessive, inadequate,
			 or unfairly discriminatory; and
(3)
			 Due consideration shall be given:
(a) To past
			 and prospective loss experience within and outside this state;
(b) To conflagration and catastrophe
			 hazards;
(c) To a reasonable margin
			 for underwriting profit and contingency;
(d) To dividends, savings, or unabsorbed
			 premium deposits allowed or returned by insurers to their policyholders,
			 members, or subscribers;
(e) To
			 past and prospective expenses, both countrywide and those specially applicable
			 to this state;
(f) To all other
			 relevant factors within and outside this state; and
(g) In the case of fire insurance rates,
			 consideration may be given to the experience of the fire insurance business
			 during a period of not less than the most recent three (3) year period for
			 which such experience is available;
(4) The systems of expense provisions
			 included in the rates for use by insurer or group of insurers may differ from
			 those of other insurers or group of insurers to reflect the requirements of the
			 operating methods of any such insurer or group with respect to any kind of
			 insurance or with respect to any subdivision or combination thereof for which
			 subdivision or combination separate expense provisions are applicable;
			 and
(5) Risks may be grouped by
			 classifications for the establishment of rates and minimum premiums.
			 Classification rates may be modified to produce rates for individual risks in
			 accordance with rating plans which establish standards for measuring variations
			 in hazards or expense provisions, or both. Such standards may measure any
			 differences among risks which may have a probable effect upon losses or
			 expenses.
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 13 - Rates and Rating Organizations › Section 806 KAR 13:120 - Workers' compensation deductible policies

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.13-057,
				304.13-167,
				304.13-400-304.13-420
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.2-110 authorizes the commissioner to make
				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
				304.13-410 requires the commissioner to
				promulgate administrative regulations concerning calculations for premium
				reductions for deductible workers' compensation insurance policies. This
				administrative regulation establishes the method of calculating premium
				reductions for workers' compensation insurance policies with
				deductibles.
Section 1. Definition.
			 "Commissioner" is defined in
			 KRS
			 304.1-050(1).
Section 2. All insurers authorized to write
			 workers' compensation insurance in Kentucky, when establishing the premium for
			 a workers' compensation insurance policy with a deductible ranging from $100 to
			 $10,000 shall use only the following deductibles: $100, $200, $300, $400, $500,
			 $1,000, $1,500, $2,500, $5,000, $7,500, $10,000.
Section 3. Application of this Administrative
			 Regulation.
(1) General.
(a) This administrative regulation shall
			 apply to all insurers and licensed advisory organizations introducing or
			 revising workers' compensation insurance deductible discounts for policies with
			 deductibles of $100 to $10,000 or their application in Kentucky.
(b) A licensed advisory organization filing
			 shall be self- contained and fully documented and shall not simply adopt the
			 deductible plan or factors of another filing.
(c) An insurer may:
1. File a self-contained and fully documented
			 deductible discount plan; or
2.
			 Adopt the filed deductible plan and discounts of a licensed advisory
			 organization or another insurer.
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 13 - Rates and Rating Organizations › Section 806 KAR 13:130 - Experience modification factors for workers' compensation insurers

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.13-011(9),
				304.13-057,
				304.13-091,
				304.13-415
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
				304.13-415 requires that for each workers'
				compensation policy issued or renewed on or after May 1, 1997, insurers or
				licensed advisory organizations shall provide policyholders with written
				explanations of the policyholders' experience modification factor and the data
				and methodology utilized in the calculation of the factor.
				KRS
				304.13-415 also provides that the
				commissioner shall establish guidelines for application of experience
				modification factors to be used in developing workers' compensation insurance
				rates. This administrative regulation establishes guidelines for the
				application of experience modification factors, and for the written
				explanations to policyholders regarding how the factors were calculated.
Section 1. Workers' compensation insurers
			 that use experience modification factors shall develop an experience
			 modification factor for each insured in accordance with the following
			 provisions:
(1) The experience modification
			 factor shall be based upon three (3) full years of experience ending one (1)
			 year prior to the effective date of the modification;
(2) The experience modification factor shall
			 be developed on an annual basis and shall remain effective for twelve (12)
			 months;
(3) Only one (1) experience
			 modification shall apply to a given risk at any time and shall apply to all
			 operations of the risk;
(4) In
			 developing premium for the experience modification factor, insurers shall:
(a) Apply the experience modification factor
			 to the carrier's rates in force on the effective date of the experience
			 modification factor; and
(b) Base
			 the premium upon state qualifying premium amounts and the predetermined state
			 limits, as both are identified in an advisory organization's publications
			 approved by the commissioner; and
(5) An experience modification factor may be
			 determined for a risk if the risk has developed sufficient qualifying premium
			 based on payroll and other exposures reported in accordance with the
			 publications of the National Council on Compensation Insurance.
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 13 - Rates and Rating Organizations › Section 806 KAR 13:150 - Property and casualty rate and rule filings

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.1-010,
				304.1-050,
				304.4-010(2),
				304.13-011,
				304.13-021
				304.13-031, 304.13-051, 304.13-061, 304.13-081, 304.21-010, 304.22-020,
				304.23-010
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.2-110 authorizes the commissioner to
				promulgate administrative regulations necessary for or as an aid to the
				effectuation of any provision of the Kentucky Insurance Code, defined in
				KRS
				304.1-010. This administrative regulation
				establishes rate and rule filing procedures for property, casualty, surety,
				title, and mortgage guaranty insurance.
Section
			 1. Definitions.
(1) "Advisory
			 organization" is defined by
			 KRS
			 304.13-011(9).
(2) "Commissioner" is defined by
			 KRS
			 304.1-050(1).
(3) "Department" is defined by
			 KRS
			 304.1-050(2).
(4) "Loss cost" means the loss cost per unit
			 of exposure excluding all loss adjustment expenses.
(5) "Rate" is defined by
			 KRS
			 304.13-011(22).
(6) "Statistical agent" is defined by
			 KRS
			 304.13-011(24).
(7) "Supplementary rating information" is
			 defined by
			 KRS
			 304.13-011(2).
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 14 - Insurance Contract › Section 806 KAR 14:005 - Rate and form filing procedures for life insurers, life settlement providers, and life settlement brokers

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.4-010,
				304.14-120,
				304.14-190,
				304.15-020,
				304.15-700
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.2-110 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 defined
				in
				KRS
				304.1-010. This administrative regulation
				establishes rate and form filing procedures for life insurers, life settlement
				providers, and life settlement brokers.
Section
			 1. Definitions.
(1)
			 "Commissioner" is defined by
			 KRS
			 304.1-050(1).
(2) "Department" is defined by
			 KRS
			 304.1-050(2).
(3) "Life settlement broker" is defined by
			 KRS
			 304.15-020(16).
(4) "Life settlement provider" is defined by
			 KRS
			 304.15-020(18).
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 14 - Insurance Contract › Section 806 KAR 14:006 - Property and casualty insurance form filings

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.1-050,
				304.4-010,
				304.13-051,
				304.14-120,
				304.14-190,
				304.21-010,
				304.22-020,
				304.23-010
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.2-110 authorizes the commissioner to
				promulgate reasonable administrative regulations necessary for or as an aid to
				the effectuation of any provision of the Kentucky Insurance Code as defined in
				KRS
				304.1-010.
				KRS
				304.14-120 authorizes the commissioner to
				approve, disapprove, or exempt insurance documents and forms prior to issuance
				for delivery in Kentucky. This administrative regulation provides form filing
				procedures for property, casualty, surety, title, and mortgage guaranty
				insurance.
Section 1. Definitions.
(1) "Commissioner" is defined by
			 KRS
			 304.1-050(1).
(2) "Department" is defined by
			 KRS
			 304.1-050(2).
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 14 - Insurance Contract › Section 806 KAR 14:007 - Rate and form filing for health insurers

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.1-010,
				304.12-020,
				304.1-050,
				304.3-270,
				304.4-010,
				304.14-120,
				304.14-190,
				304.17-380,
				304.17A-005,
				304.17A-095,
				304.17A-096,
				304.17C-010(5)
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.2-110(1) authorizes the
				Commissioner of Insurance to promulgate reasonable administrative regulations
				necessary for or as an aid to the effectuation of the Kentucky Insurance Code,
				as defined by
				KRS
				304.1-010.
				KRS
				304.14-420 requires the commissioner to
				promulgate administrative regulations to establish minimum standards for the
				readability and intelligibility of insurance contracts. This administrative
				regulation establishes rate and form filing procedures for health
				insurers.
Section 1. Definitions.
(1) "Commissioner" means the Commissioner of
			 Insurance as defined by
			 KRS
			 304.1-050(1).
(2) "Department" means Department of
			 Insurance as defined by
			 KRS
			 304.1-050(2).
(3) "Filing entity" means a health insurer
			 authorized to transact business in Kentucky or an entity authorized by that
			 health insurer to submit filings on its behalf.
(4) "Health benefit plan" is defined by
			 KRS
			 304.17A-005(22).
(5) "Health policy form" or "form" means:
(a) Any application, policy, certificate,
			 contract, rider, or endorsement; and
(b) Includes advertising for long-term care,
			 short-term nursing, and Medicare Supplement products.
(6) "Limited health service benefit plan" is
			 defined by
			 KRS
			 304.17C-010(5).
Kentucky Administrative Regulations › Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE › Chapter 14 - Insurance Contract › Section 806 KAR 14:010 - Proof of loss; form

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO:
				KRS
				304.14-270
NECESSITY, FUNCTION, AND CONFORMITY:
				KRS
				304.2-110 provides that the Executive
				Director of Insurance may make reasonable rules and administrative regulations
				necessary for or as an aid to the effectuation of any provision of the Kentucky
				Insurance Code. This administrative regulation prohibits insurer's rejection of
				an insured's proof of loss solely for failure to be in or on a particular
				form.
Section 1. An insurer shall not
			 refuse to accept a proof of loss submitted by a policyholder in support of a
			 claim under its policy solely because it is not in or upon a particular form
			 required by the insurer, unless within reasonable time following receipt of
			 notice of claim the insurer notifies the policyholder in writing as to the
			 minimum requirements in a particular form which will be acceptable.
STATUTORY AUTHORITY:
				  KRS
				  304.2-110