26RS HB 527

House Bill 527

Actions

Last Action	01/29/26: to Committee on Committees (H)
Title	AN ACT relating to insurance regulatory requirements.
Bill Documents	Introduced
Fiscal Impact Statements	Actuarial Analysis Health Mandate Local Mandate State Employee Health Plan Impact
Bill Request Number	1343
Sponsor	M. Pollock
Summary of Original Version	Amend KRS 304.1-050 and 304.1-110 to make technical amendments; amend KRS 304.2-160 to define "licensee"; amend KRS 304.2-220 to modify persons who are subject to examination by the insurance commissioner; amend KRS 304.4-040 to apply license revocation for failure to pay tax or fee to licensees; amend KRS 304.5-080 to define "inland marine insurance" and repeal the definition of "marine and transportation insurance"; amend KRS 304.9-035 to provide for an insurer's liability for acts of its adjusters; amend KRS 304.9-051 to provide that certain individuals working for an administrator are not acting as an administrator; amend KRS 304.9-105 to modify financial responsibility requirement for an agent license; amend KRS 304.9-133 to establish individual designation requirements for licensed business entities; amend KRS 304.9-085 to conform; amend KRS 304.9-135 to modify the definition of "insurance agency activities"; amend KRS 304.9-140 to establish nonresident license requirements for nonresidents with a limited line of authority that is not offered in this state; repeal the requirement to surrender a license upon termination; amend KRS 304.9-170 to modify prelicensing education and examination exemption for applicants licensed within previous 12 months; amend KRS 304.9-200 to repeal refund of appointment fee upon license refusal; amend KRS 304.9-230 to repeal the surety limited line of authority and establish preneed funeral limited line of authority; amend KRS 304.9-260 to repeal the requirement to send license renewal list to an insurer or employer; require proof of compliance with continuing education requirements for nonresident independent or public adjusters; repeal the requirement to surrender license upon termination; amend KRS 304.9-270 to repeal approval requirement for specialty credit producers and managing employees; amend KRS 304.9-295 to require nonresident independent and public adjusters that designated Kentucky as their home state to satisfy continuing education requirements; modify requirements for continuing education certifications; repeal license surrender and reissuance requirement; repeal and reenact KRS 304.9-436 to provide that authorized insurers shall not do business with unlicensed persons; amend KRS 304.13-346 to require property insurers to offer an optional policy provision to upgrade the roof structure of non-FORTIFIED dwellings; amend KRS 304.13-400 to repeal workers' compensation insurance deductible range; amend KRS 304.14-120 to conform; amend KRS 304.15-365 to establish requirements for optional maturity dates offered for individual deferred annuities; amend KRS 304.17A-600, 304.17A-607, 304.17A-617, and 304.17A-623 to define "adverse benefit determination" and "coverage denial"; repeal definition of "adverse determination"; require internal appeal for adverse benefit determinations; require external review for adverse benefit determinations, other than coverage denials; amend KRS 304.17A-619, 304.17A-621, and 304.17A-625 to conform; amend KRS 304.99-020 and 304.99-100 to repeal civil penalties and renewal requirements for specialty credit producers and managing employees; make technical amendments throughout.
Index Headings of Original Version	Licensing - Insurance, limited lines of authority State Agencies - Department of Insurance, licensing, regulation Technical Corrections - Insurance code, regulatory requirements Workers Compensation - Insurance, deductibles, requirements Actuarial Analysis - Insurance producers, adjusters, and administrators, requirements Health Benefit Plan Mandate - Health insurance, internal and external appeals, requirements State Employee Health Plan Mandate - Health insurance, internal and external appeals, requirements Local Mandate - Insurance producers, adjusters, and administrators, requirements Disasters And Recovery Efforts - Non-FORTIFIED dwellings, property insurance, optional policy provisions Health And Medical Services - Health insurance, internal and external appeals, requirements Insurance - Health insurance, internal and external appeals, requirements Insurance - Licensees acting on behalf of insurers, requirements Insurance - Non-FORTIFIED dwellings, property insurance, optional policy provisions Insurance, Health - Internal and external appeals, requirements Investments - Deferred annuities, requirements Licensing - Insurance producers, adjusters, and administrators, requirements