Kentucky Revised Statutes
Includes enactments through the 2024 Regular Session
Chapter titles, centered headings, section catchlines, and explanatory notes are for informational purposes only and do not constitute any part of the law. For general laws governing construction of statutes, see KRS Chapter 446.
The KRS database was last updated on 11/20/2024
.3-010 "Stock" insurer defined.
.3-020 "Mutual" insurer defined.
.3-025 "Combined stock and mutual life" insurer defined.
.3-030 "Reciprocal" insurer defined.
.3-040 "Lloyd's Plan" insurer defined.
.3-050 "Charter" defined.
.3-060 Exceptions to certificate of authority requirement.
.3-070 Eligibility for certificate of authority.
.3-080 General eligibility for certificate of authority -- Ownership -- Management.
.3-090 General eligibility for certificate of authority -- Prior operation.
.3-100 Name of insurer.
.3-110 Combinations of insuring powers, one insurer.
.3-120 Capital funds required -- Amount of surplus required.
.3-125 Authority for commissioner to require additional capital and surplus.
.3-130 Repealed, 1982.
.3-140 Deposit requirement in general.
.3-150 Application for certificate of authority.
.3-160 Issuance -- Refusal of authority -- Ownership of certificate.
.3-170 Amended certificate of authority.
.3-180 Continuance, expiration, and reinstatement of certificate of authority -- Preparation of audited financial statements.
.3-190 Suspension or revocation of certificate of authority -- Mandatory grounds.
.3-200 Suspension or revocation of certificate of authority -- Discretionary and special grounds.
.3-210 Order -- Notice of suspension or revocation -- Publication -- Effect upon agents' authority.
.3-220 Duration of suspension -- Insurer's obligation during suspension period -- Reinstatement.
.3-230 Service of process on insurers -- Secretary of State as attorney for service of process.
.3-235 Corporate Governance Annual Disclosure -- Submission to department or lead state regulator -- Required information and support -- Annual filing of amended version -- Confidentiality -- Use and sharing of filings and information -- Parties retained to assist commissioner.
.3-240 Annual and quarterly financial statement -- Penalty for noncompliance -- Publication of financial statement prepared on a different basis.
.3-241 Accounting practices and procedures for annual and quarterly statements.
.3-242 Property and casualty insurers to annually submit statement of actuarial opinion and supporting documentation -- Opinion to be available for public inspection -- Confidentiality of supporting documentation -- Exemptions to filing requirement.
.3-245 Repealed, 1998.
.3-250 Repealed, 1998.
.3-260 Repealed, 1998.
.3-270 Retaliatory provision.
.3-280 Effect of provision limiting or excluding insurer's obligation to pay claim of insured eligible for medical assistance.
.3-310 Repealed, 1988.
.3-315 Repealed, 1992.
.3-320 Guaranty fund deposit by foreign insurers may be required by commissioner.
.3-330 Reports of past-due loans and loans in foreclosure to early warning analyst.
.3-400 Definitions for KRS 304.3-400 to 304.3-430.
.3-405 Parties subject to KRS 304.3-400 to 304.3-430.
.3-410 Applicability -- Contract between insurer and controlling producer -- Audit committees -- Reporting requirements.
.3-415 Notice to prospective insured disclosing relationship between producer and controlled insurer -- Exceptions.
.3-420 Authority of commissioner -- Actions.
.3-425 Compliance date.
.3-430 Short title for KRS 304.3-400 to 304.3-430.
.3-500 Definitions for KRS 304.3-500 to 304.3-570.
.3-510 Licensing of controlling agent -- Evidence of financial responsibility.
.3-520 Contract between insurer and controlling agent -- Minimum provisions -- Prohibited activities.
.3-530 Duties and responsibilities of insured and controlling agent.
.3-540 Acts of controlling agent -- Examination by commissioner.
.3-550 Penalties.
.3-560 Administrative regulations.
.3-570 Short title for KRS 304.3-500 to 304.3-570.
.3-600 Definitions for KRS 304.3-600 to 304.3-635 and 304.99-055.
.3-605 Application of KRS 304.3-600 to 304.3-635 and 304.99-055.
.3-610 Maintenance of risk management framework.
.3-615 Regular Own Risk and Solvency Assessments required -- Exception -- Frequency.
.3-620 Own Risk and Solvency Assessment Summary Report or combination of reports -- When required -- Contents -- Signature.
.3-625 Exemption from requirements of KRS 304.3-600 to 304.3-635 and 304.99-055 -- Conditions.
.3-630 Reporting to comply with ORSA Guidance Manual.
.3-635 ORSA Summary Report and other information confidential, privileged, and exempt from Open Records Act and private civil action subpoena, discovery, and testimony -- Powers of commissioner.
.3-700 Definitions for KRS 304.3-700 to 304.3-735.
.3-705 Application for admission to regulatory sandbox -- Disclosure and stability requirements -- Disqualifying factors -- Participation in regulatory sandbox under KRS 15.268.
.3-710 Director of insurance innovation -- Review of applications -- Notice of acceptance or rejection -- Hearing.
.3-715 Limited no-action letter -- Safe harbor of limited letter -- Publication of limited letter on department's Web site.
.3-720 One-year period for beta test -- Extension by commissioner -- Terms and conditions -- Early termination -- Cease and desist order -- Appeal.
.3-725 Completion and review of beta test -- Issuance of extended no-action letter or notice declining to issue extended letter -- Safe harbor of extended letter -- Use of innovation and conduct permitted -- Hearing -- Publication of extended letter on department's Web site.
.3-730 Confidentiality of financial information -- Permissible disclosures in extended no-action letter.
.3-735 Annual report.
.3-750 Definitions for KRS 304.3-750 to 304.3-768.
.3-752 Exemption qualifications.
.3-754 Applicability.
.3-756 Written information security program -- Requirements -- Assessments -- Written incident response plan -- Annual certification to commissioner.
.3-758 Cybersecurity event investigation.
.3-760 Notification to commissioner of cybersecurity event -- Procedures.
.3-762 Powers of commissioner.
.3-764 Documents, materials, and other information -- Confidentiality -- Releases.
.3-766 Compliance requirements.
.3-768 Penalties.