KY HB207 | 2012 | Regular Session

Kentucky House Bill 207 (Prior Session Legislation)

Status

Completed Legislative Action
Sponsorship: Partisan Bill (Democrat 1)
Status: Passed on April 11 2012 - 100% progression
Action: 2012-04-11 - signed by Governor (Acts ch. 64)
Text: Latest bill text (Draft #2) [MS Word]

Summary

Create a new section of Subtitle 20 of KRS Chapter 304 to define "commercial property and casualty," "loss run statement," and "provide"; require an insurer to provide a loss run statement within 20 days of a written request from an insured or an agent; require the receiving insurer to provide the statement to the insured within 5 calendar days of receipt; provide that a loss run statement shall be for a 5-year loss run history or a complete history of the insured if less than 5 years; prohibit the receiving insurance agent from divulging confidential consumer information to a third person; prohibit an insurer from charging a fee for preparing and furnishing a loss run statement; amend KRS 304.48-035, relating to liability self-insurance groups, and KRS 304.50-155, relating to group self-insurance funds, to reference and apply the loss run requirements and penalties for failure to comply; create a new section of Subtitle 99 of KRS Chapter 304 to provide that an agent who fails to provide a loss run statement as requested within the specified time frame to an insured or an agent shall be fined not less than $100 nor more than $250 for each day the agent fails to provide the statement; create a new section of Subtitle 12 of KRS Chapter 304 to require insurers to inform claimants upon notification of a motor vehicle damage claim that the claimant has a right to choose a repair facility and provide that appraisals for motor vehicle damage claims must include a notice so stating; create a new section of Subtitle 99 of KRS Chapter 304 to provide that persons who fail to give this notice shall be subject to a civil fine in an amount not less than $250 and not more than $5,000.

Title

AN ACT relating to insurance.

History

Date	Chamber	Action
2012-04-11		signed by Governor (Acts ch. 64)
2012-03-30		delivered to Governor
2012-03-30		enrolled, signed by each presiding officer
2012-03-30		received in House
2012-03-30		3rd reading, passed 32-5
2012-03-30		posted for passage in the Regular Orders of the Day for Friday, March 30, 2012
2012-03-21		2nd reading, to Rules
2012-03-20		reported favorably, 1st reading, to Calendar
2012-01-27		to Banking & Insurance (S)
2012-01-25		received in Senate
2012-01-24		3rd reading, passed 97-0 with Committee Substitute
2012-01-19		posted for passage in the Consent Orders of the Day for Tuesday, January 24, 2012
2012-01-19		2nd reading, to Rules
2012-01-18		reported favorably, 1st reading, to Consent Calendar with Committee Substitute
2012-01-09		posted in committee
2012-01-09		to Banking & Insurance (H)
2012-01-05		introduced in House