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Subtitle

Subtitle 3. Authorization of Insurers and General Requirements

  • KRS 304.3-010— "Stock" insurer defined
  • KRS 304.3-020— "Mutual" insurer defined
  • KRS 304.3-025— "Combined stock and mutual life" insurer defined
  • KRS 304.3-030— "Reciprocal" insurer defined
  • KRS 304.3-040— "Lloyd's Plan" insurer defined
  • KRS 304.3-050— "Charter" defined
  • KRS 304.3-060— Exceptions to certificate of authority requirement
  • KRS 304.3-070— Eligibility for certificate of authority
  • KRS 304.3-080— General eligibility for certificate of authority -- Ownership -- Management
  • KRS 304.3-090— General eligibility for certificate of authority -- Prior operation
  • KRS 304.3-100— Name of insurer
  • KRS 304.3-110— Combinations of insuring powers, one insurer
  • KRS 304.3-120— Capital funds required -- Amount of surplus required
  • KRS 304.3-125— Authority for commissioner to require additional capital and surplus
  • KRS 304.3-130— Repealed, 1982
  • KRS 304.3-140— Deposit requirement in general
  • KRS 304.3-150— Application for certificate of authority
  • KRS 304.3-160— Issuance -- Refusal of authority -- Ownership of certificate
  • KRS 304.3-170— Amended certificate of authority
  • KRS 304.3-180— Continuance, expiration, and reinstatement of certificate of authority -- Preparation of audited financial statements
  • KRS 304.3-190— Suspension or revocation of certificate of authority -- Mandatory grounds
  • KRS 304.3-200— Suspension or revocation of certificate of authority -- Discretionary and special grounds
  • KRS 304.3-210— Order -- Notice of suspension or revocation -- Publication -- Effect upon agents' authority
  • KRS 304.3-220— Duration of suspension -- Insurer's obligation during suspension period -- Reinstatement
  • KRS 304.3-230— Service of process on insurers -- Secretary of State as attorney for service of process
  • KRS 304.3-235— Corporate Governance Annual Disclosure -- Submission to department or lead state regulator -- Required information and support -- Annual filing of amended version -- Confidentiality -- Use and sharing of filings and information -- Parties retained to assist commissioner
  • KRS 304.3-240— Annual and quarterly financial statement -- Penalty for noncompliance -- Publication of financial statement prepared on a different basis
  • KRS 304.3-241— Accounting practices and procedures for annual and quarterly statements
  • KRS 304.3-242— Property and casualty insurers to annually submit statement of actuarial opinion and supporting documentation -- Opinion to be available for public inspection -- Confidentiality of supporting documentation -- Exemptions to filing requirement
  • KRS 304.3-245— Repealed, 1998
  • KRS 304.3-250— Repealed, 1998
  • KRS 304.3-260— Repealed, 1998
  • KRS 304.3-270— Retaliatory provision
  • KRS 304.3-280— Effect of provision limiting or excluding insurer's obligation to pay claim of insured eligible for medical assistance
  • KRS 304.3-310— Repealed, 1988
  • KRS 304.3-315— Repealed, 1992
  • KRS 304.3-320— Guaranty fund deposit by foreign insurers may be required by commissioner
  • KRS 304.3-330— Reports of past-due loans and loans in foreclosure to early warning analyst
  • KRS 304.3-400— Definitions for KRS 304.3-400 to 304.3-430
  • KRS 304.3-405— Parties subject to KRS 304.3-400 to 304.3-430
  • KRS 304.3-410— Applicability -- Contract between insurer and controlling producer -- Audit committees -- Reporting requirements
  • KRS 304.3-415— Notice to prospective insured disclosing relationship between producer and controlled insurer -- Exceptions
  • KRS 304.3-420— Authority of commissioner -- Actions
  • KRS 304.3-425— Compliance date
  • KRS 304.3-430— Short title for KRS 304.3-400 to 304.3-430
  • KRS 304.3-500— Definitions for KRS 304.3-500 to 304.3-570
  • KRS 304.3-510— Licensing of controlling agent -- Evidence of financial responsibility
  • KRS 304.3-520— Contract between insurer and controlling agent -- Minimum provisions -- Prohibited activities
  • KRS 304.3-530— Duties and responsibilities of insured and controlling agent
  • KRS 304.3-540— Acts of controlling agent -- Examination by commissioner
  • KRS 304.3-550— Penalties
  • KRS 304.3-560— Administrative regulations
  • KRS 304.3-570— Short title for KRS 304.3-500 to 304.3-570
  • KRS 304.3-600— Definitions for KRS 304.3-600 to 304.3-635 and 304.99-055
  • KRS 304.3-605— Application of KRS 304.3-600 to 304.3-635 and 304.99-055
  • KRS 304.3-610— Maintenance of risk management framework
  • KRS 304.3-615— Regular Own Risk and Solvency Assessments required -- Exception -- Frequency
  • KRS 304.3-620— Own Risk and Solvency Assessment Summary Report or combination of reports -- When required -- Contents -- Signature
  • KRS 304.3-625— Exemption from requirements of KRS 304.3-600 to 304.3-635 and 304.99-055 -- Conditions
  • KRS 304.3-630— Reporting to comply with ORSA Guidance Manual
  • KRS 304.3-635— ORSA Summary Report and other information confidential, privileged, and exempt from Open Records Act and private civil action subpoena, discovery, and testimony -- Powers of commissioner
  • KRS 304.3-700— Definitions for KRS 304.3-700 to 304.3-735
  • KRS 304.3-705— Application for admission to regulatory sandbox -- Disclosure and stability requirements -- Disqualifying factors -- Participation in regulatory sandbox under KRS 15.268
  • KRS 304.3-710— Director of insurance innovation -- Review of applications -- Notice of acceptance or rejection -- Hearing
  • KRS 304.3-715— Limited no-action letter -- Safe harbor of limited letter -- Publication of limited letter on department's Web site
  • KRS 304.3-720— One-year period for beta test -- Extension by commissioner -- Terms and conditions -- Early termination -- Cease and desist order -- Appeal
  • KRS 304.3-725— Completion and review of beta test -- Issuance of extended no-action letter or notice declining to issue extended letter -- Safe harbor of extended letter -- Use of innovation and conduct permitted -- Hearing -- Publication of extended letter on department's Web site
  • KRS 304.3-730— Confidentiality of financial information -- Permissible disclosures in extended no-action letter
  • KRS 304.3-735— Annual report
  • KRS 304.3-750— Definitions for KRS 304.3-750 to 304.3-768
  • KRS 304.3-752— Exemption qualifications
  • KRS 304.3-754— Applicability
  • KRS 304.3-756— Written information security program -- Requirements -- Assessments -- Written incident response plan -- Annual certification to commissioner
  • KRS 304.3-758— Cybersecurity event investigation
  • KRS 304.3-760— Notification to commissioner of cybersecurity event -- Procedures
  • KRS 304.3-762— Powers of commissioner
  • KRS 304.3-764— Documents, materials, and other information -- Confidentiality -- Releases
  • KRS 304.3-766— Compliance requirements
  • KRS 304.3-768— Penalties