806 KAR 2:100. Disclosure of KRS 136.392 surcharge.

 

      RELATES TO: KRS 136.392

      STATUTORY AUTHORITY: KRS Chapter 13A, 136.392

      NECESSITY, FUNCTION, AND CONFORMITY: KRS 136.392 provides that the surcharge required by that section shall be disclosed to policyholders pursuant to administrative regulations which shall be promulgated by the Executive Director of Insurance. This administrative regulation prescribes the manner in which the surcharge required by KRS 136.392 is to be disclosed to policyholders.

 

      Section 1. (1) Each policy subject to KRS 136.392 issued to an insured for the first time shall include a notice that the premium includes the surcharge required by KRS 136.392. Such notice shall be placed on the declarations page of the policy by use of a typewriter, stamp, sticker, or any other reasonable means approved by the Executive Director.

      (2) At the option of the insurer, such notice may be placed on renewal certificates and billings issued subsequent to the original policy.

      (3) At the option of the insurer, the amount of the surcharge may be shown on the declarations page of the policy, on renewal certificates or subsequent billings, or both. (11 Ky.R. 100; eff. 8-7-84; TAm eff. 8-9-2007.)