Current through Register Vol. 50, No. 9, March 1, 2024
RELATES TO:
KRS
304.1-050(1),
304.44-010,
304.44-020,
304.44-060,
304.44-120
NECESSITY, FUNCTION, AND CONFORMITY:
KRS
304.2-110 authorizes the Commissioner of
Insurance to promulgate reasonable administrative regulations necessary for or
as an aid to the effectuation of any provision of the Kentucky Insurance Code,
KRS
304.1-010.
KRS
304.44-120 authorizes the administrator of
the mine subsidence fund to supervise in all respects consistent with the
provisions of KRS 304.44, the operation and management of the mine subsidence
insurance program and to do all things necessary or convenient to accomplish
the purpose of KRS 304.44. This administrative regulation establishes
procedures for counties and urban-county governments to notify the commissioner
of their decision to approve the availability of mine subsidence within the
county and establishes an annual effective date for participation in the mine
subsidence insurance program.
Section
1. Definitions.
(1)
"Commissioner" is defined by
KRS
304.1-050(1).
(2) "County" means a county, charter county,
urban-county government, or a consolidated local government.
(3) "Eligible location" means those counties
within the Commonwealth of Kentucky that have underground coal-bearing stratum
or underground coal mines.
(4)
"Mine subsidence insurance fund" is defined by
KRS
304.44-010(3).
(5) "Qualified location" means a county in
which the fiscal court had certified to the commissioner its approval of the
availability of mine subsidence insurance within that county.
Section 2. Approval of Qualified
Locations.
(1)
(a) In accordance with
KRS 304.44-060,
any county whose fiscal court has voted to approve or remove the availability
of mine subsidence insurance in the county, shall provide documentation of the
vote to the commissioner.
(b) Upon
receipt of the documentation of an approval of the availability of mine
subsidence insurance in the county, the commissioner shall:
1. Consider whether the county is an eligible
location; and
2. If the county is
an eligible location, approve the county as a qualified location for
participation in the mine subsidence insurance fund in accordance with
subsection (2) of this section. Approval shall be on a prospective basis
only.
(c) An approval as
a qualified location shall continue until the commissioner receives
notification from the county that the fiscal court has voted to remove the
availability of mine subsidence insurance in the county.
(2)
(a) If
the commissioner receives the documentation of an approval or removal of the
availability of mine subsidence insurance in the county as described in
subsection (1) of this section more than 100 days prior to July 1, approval or
removal as a qualified location shall be effective on July 1 of that same each
year.
(b) If the commissioner
receives the documentation of an approval or removal of the availability of
mine subsidence insurance in the county described in subsection (1) of this
section less than 100 days prior to July 1, approval as a qualified location
shall be effective on July 1 of the subsequent year.
Section 3. Notification to
Insurers of Qualified Locations.
(1)
Eighty-five (85) days prior to July 1 of each year, the commissioner shall
provide to insurers notice of the qualified locations participating in the mine
subsidence insurance fund.
(2) The
addition or removal of qualified locations shall apply to new insurance
policies written and existing insurance policies renewed on or after July 1 of
each year.
STATUTORY AUTHORITY:
KRS
304.2-110,
304.44-120