Kentucky Administrative Regulations
Title 806 - PUBLIC PROTECTION CABINET - DEPARTMENT OF INSURANCE
Chapter 13 - Rates and Rating Organizations
Section 806 KAR 13:020 - Excess rates; consent form
Current through Register Vol. 50, No. 9, March 1, 2024
RELATES TO: KRS 304.13-051
NECESSITY, FUNCTION, AND CONFORMITY: KRS 304.2-110(1) authorizes the Commissioner of Insurance to promulgate administrative regulations necessary for or as an aid to the effectuation of any provision of the Kentucky Insurance Code as established in KRS 304.1-010. This administrative regulation establishes that an insurer and applicant shall file a form confirming the applicant's consent to the, if any, excess rate charged.
Section 1.
Section 2. A copy of the consent to rate statement required by Section 1 of this administrative regulation shall be submitted to the insured.
Section 3. The commissioner shall, in accordance with KRS Subtitle 304.13, approve or deny the consent to rate statement required by Section 1(1) of this administrative regulation, and shall return to the agent and to the insurer, one (1) copy of the consent, indicating the action taken.
STATUTORY AUTHORITY: KRS 304.2-110, 304.13-100