| Last Action | signed by Governor (Acts ch. 64) |
|---|---|
| Title | AN ACT relating to insurance. |
| Bill Documents |
Bill
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| Bill Request Number | 440 |
| Sponsor | J. Greer |
| Summary of Original Version | Create a new section of Subtitle 20 of KRS Chapter 304 to define "commercial property and casualty," "loss run statement," and "provide"; require an insurer to provide a loss run statement within 20 days of a written request from an insured or an agent; require the receiving insurer to provide the statement to the insured within 5 calendar days of receipt; provide that a loss run statement shall be for a 5-year loss run history or a complete history of the insured if less than 5 years; prohibit the receiving insurance agent from divulging confidential consumer information to a third person; prohibit an insurer from charging a fee for preparing and furnishing a loss run statement; amend KRS 304.48-035, relating to liability self-insurance groups, and KRS 304.50-155, relating to group self-insurance funds, to reference and apply the loss run requirements and penalties for failure to comply; create a new section of Subtitle 99 of KRS Chapter 304 to provide that an agent who fails to provide a loss run statement as requested within the specified time frame to an insured or an agent shall be fined not less than $100 nor more than $250 for each day the agent fails to provide the statement; create a new section of Subtitle 12 of KRS Chapter 304 to require insurers to inform claimants upon notification of a motor vehicle damage claim that the claimant has a right to choose a repair facility and provide that appraisals for motor vehicle damage claims must include a notice so stating; create a new section of Subtitle 99 of KRS Chapter 304 to provide that persons who fail to give this notice shall be subject to a civil fine in an amount not less than $250 and not more than $5,000. |
| Index Headings of Original Version |
Insurance - Loss run statement, commercial property and casualty, provision on demand Insurance, Motor Vehicle - Repair facility, claimant's right to choose Motor Vehicles - Repair facility, insurance claimant's right to choose |
| Proposed Amendments | House Committee Substitute 1 |
| Votes | Vote History |
| 01/05/12 |
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|---|---|
| 01/09/12 |
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| 01/18/12 |
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| 01/19/12 |
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| 01/24/12 |
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| 01/25/12 |
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| 01/27/12 |
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| 03/20/12 |
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| 03/21/12 |
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| 03/30/12 |
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| 04/11/12 |
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| Amendment | House Committee Substitute 1 |
|---|---|
| Summary | Retain the original provisions; amend Section 5, subsection (3) to provide that the obligation to notify a claimant and to post a notice of his or her right to choose a repair facility does not apply to repair or replacement of automobile glass; delete the reference to KRS 304.9-470, which requires replacement or repair of automobile glass without a deductible. |
| Index Headings |
Insurance - Loss run statement, commercial property and casualty, provision on demand Insurance, Motor Vehicle - Repair facility, claimant's right to choose Motor Vehicles - Repair facility, insurance claimant's right to choose |
Last updated: 8/27/2019 8:05 PM (EDT)