House Bill 264

Actions | Amendments
Last Action 2nd reading, to Rules
Title AN ACT relating to insurance loss run statements.
Bill Documents Bill
Bill Request Number 436
Sponsors J. Greer, S. Riggs, S. Santoro, T. Thompson
Summary of Original Version Create a new section of subtitle 12 of KRS Chapter 304 to define loss run statement; require an insurer to provide a loss run statement within 10 days of a written request submitted by another insurer; provide that the loss run statement shall be for a three-year loss run history or a complete history if less than three years; prohibit the receiving agent from divulging consumer information to a third party; prohibit an insurer from charging a fee for a loss run statement; and, create a new section of subtitle 99 of KRS Chapter 304 to provide that an insurer who does not provide a loss run statement as requested shall be fined not less than $100 nor more than $250 for each day the insurer fails to provide the loss run statement.
Index Headings of Original Version Insurance - Loss run statement, define
Insurance - Loss run statement, written request by insurer
Insurance - Time frame, response to written request for loss run statement
Insurance - Insurer, protection of consumer financial information
Insurance - Loss run statement, prohibit fee
Insurance - Penalty, failure to timely submit loss run statement
Proposed Amendments House Committee Substitute 1
House Floor Amendment 1
Votes Vote History

Actions

Top | Amendments
02/04/09
  • introduced in House
02/05/09
  • to Banking & Insurance (H)
02/09/09
  • posting waived
02/11/09
  • reported favorably, 1st reading, to Consent Calendar with Committee Substitute
02/12/09
  • 2nd reading, to Rules
  • posted for passage in the Consent Orders of the Day for Tuesday, February 24, 2009
02/13/09
  • taken from the Consent Orders of the Day, placed in the Regular Orders of the Day
02/23/09
  • floor amendment (1) filed to Committee Substitute
02/24/09
  • 3rd reading, passed 99-0 with Committee Substitute, floor amendment (1)
02/25/09
  • received in Senate
02/27/09
  • to Banking & Insurance (S)
03/09/09
  • reported favorably, 1st reading, to Consent Calendar
03/10/09
  • 2nd reading, to Rules

Proposed Amendments

Top | Actions
Amendment House Committee Substitute 1
Summary Create a new section of Subtitle 20 of KRS Chapter 304, relating to casualty insurance, to define "commercial property and casualty" and "loss run statement"; create a new section of Subtitle 20 of KRS Chapter 304 to require that a loss run statement be provided to an insured or the insurer's agent by an insurer within ten days of a written request by the insured or an insurer's agent; require an insurer's agent who receives a loss run statement to provide the statement to the insured within five calendar days; require the loss run statement contain a three year loss run history unless the history is less than three years; require an agent who receives a loss run statement to not divulge its contents and to maintain privacy of the consumer's information; prohibit charging a fee for provision of a loss run statement; and retain the penalty provision for failure to provide a loss run statement upon request as required, but apply it to an insurer's agent in addition to the insurer.
Index Headings Insurance - Loss run statement, define
Insurance - Loss run statement, written request by insurer
Insurance - Time frame, response to written request for loss run statement
Insurance - Insurer, protection of consumer financial information
Insurance - Loss run statement, prohibit fee
Insurance - Penalty, failure to timely submit loss run statement

Amendment House Floor Amendment 1
Sponsor J. Greer
Summary Clarify that an insurer's agent is the agent of the subject insurer; clarify that information be held confidential as required by law, rather than require privacy of other customer information; and make technical amendments.
Index Headings Insurance - Loss run statement, define
Insurance - Loss run statement, written request by insurer
Insurance - Time frame, response to written request for loss run statement
Insurance - Insurer, protection of consumer financial information
Insurance - Loss run statement, prohibit fee
Insurance - Penalty, failure to timely submit loss run statement

Last updated: 1/16/2019 4:30 PM (EST)