Title 806 | Chapter 013 | Regulation 090
806 KAR 13:090.Premium financing.
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.HISTORY: (I-13.14; 1 Ky.R. 1081; eff. 7-2-75; Am. 27 Ky.R. 1341; 1807; eff. 1-15-2001; TAm eff. 8-9-2007; Crt eff. 2-26-2020; TAm eff. 3-10-2020.)
806 KAR 13:090.Premium financing.
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.HISTORY: (I-13.14; 1 Ky.R. 1081; eff. 7-2-75; Am. 27 Ky.R. 1341; 1807; eff. 1-15-2001; TAm eff. 8-9-2007; Crt eff. 2-26-2020; TAm eff. 3-10-2020.)