"Insurance" is a contract whereby one undertakes to pay or indemnify another as to loss from certain specified contingencies or perils called "risks," or to pay or grant a specified amount or determinable benefit or annuity in connection with ascertainable risk contingencies, or to act as surety.
KRS 304.1-030
"Insurance" defined
Applied in 8 court decisions — leading case Davidson v. American Freightways, Inc. (2000)
Most recently applied in Deans & Homer, Inc. v. Commonwealth, Public Protection Cabinet, Kentucky Department of Insurance (January 2014)
Effective: June 18, 1970 History: Created 1970 Ky
How often courts cite this section
Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.