Kentucky Administrative Regulations
Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE
Chapter 11 - Unauthorized Insurers' Prohibitions, Process and Advertising
Section 806 KAR 11:010 - Industrial insured, government entity insured, and exempt commercial policyholder
Current through Register Vol. 50, No. 9, March 1, 2024
RELATES TO: KRS 304.11-020, 304.13-051, 304.14-120
NECESSITY, FUNCTION, AND CONFORMITY: KRS 304.2-110 provides that the Executive Director of Insurance shall promulgate reasonable rules and administrative regulations necessary for or as an aid to the effectuation of any provision of the Kentucky Insurance Code. This administrative regulation provides the means by which the Executive Director may determine whether a proposed insured meets the definition of an "industrial insured", a "government entity insured", and an "exempt commercial policyholder".
Section 1.
Section 2. Prior to being recognized as a "government entity insured" as defined in KRS 304.11-020(2)(b), a proposed insured shall file with the executive director a "Government Entity Insured Affidavit" (Form GEI-1 P & C) for his approval.
Section 3. Prior to being recognized as an "exempt commercial policyholder" as defined in KRS 304.11-020(2)(c), a proposed insured shall file with the executive director an "Exempt Commercial Policyholder Affidavit" (Form ECP-1 P & C) for his approval.
Section 4. The executive director may, at his discretion, cause an investigation into the facts set forth in the proposed insured's affidavit.
Section 5. All filings of an initial certification or renewal shall be accompanied by the appropriate filing fee.
Section 6. All industrial insureds, government entity insureds and exempt commercial policy-holders shall apply for renewal of their respective status with the executive director every three (3) years.
Section 7.
Section 8. After designating an insured an "industrial insured", "government entity insured", or "exempt commercial policyholder" the executive director may, from time to time, cause an investigation or unannounced audit to ascertain that the requirements for the designation continue to be satisfied.
Section 9. Incorporation by Reference.
STATUTORY AUTHORITY: KRS 304.2-110