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KRS 304.9-495

Definitions for KRS 304.9-495 to 304.9-497

Known as the Reinsurance Intermediary Act

The act spans §§ 304.9-010 to 304.9-784 (110 sections).

Effective: July 15, 2014 History: Created 2014 Ky

For the purposes of KRS 304.9-495 to 304.9-497:

(1) "Limited lines self-service storage space insurance producer" means a:

(a) Licensed managing general agent, which has the same meaning as "managing general agent" in KRS 304.9-085(1);

(b) Licensed agent, which as the same meaning as "agent" in KRS 304.9-020; or (c) Limited lines self-service storage space insurance agent licensed pursuant to KRS 304.9-230; designated by the insurer as the self-service storage space insurance supervising entity;

(2) "Occupant" has the same meaning as in KRS 359.200;

(3) "Offering and disseminating" means providing general information relating to the self-service storage space insurance offered, including a description of the coverage and price, receiving applications and premiums, and performing other activities permitted by the department which do not require a license;

(4) "Operator" has the same meaning as in KRS 359.200;

(5) "Personal property" has the same meaning as in KRS 359.200;

(6) "Self-service storage facility" has the same meaning as in KRS 359.200; and (7) "Self-service storage space insurance" means insurance that provides primary coverage to an occupant of a self-service storage facility space for the loss of or damage to tangible personal property that is contained in a self-service storage space, but does not include a homeowner's policy, renter's insurance policy, a private passenger motor vehicle insurance policy, or an insurance policy that provides coverage similar to the insurance provided by this subsection.

Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.