HB 207 (BR 440) - J. Greer
AN ACT relating to insurance.
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.
HB 207 - AMENDMENTS
HCS - Retain the original provisions; amend Section 5, subsection (3) to provide that the obligation to notify a claimant and to post a notice of his or her right to choose a repair facility does not apply to repair or replacement of automobile glass; delete the reference to KRS 304.9-470, which requires replacement or repair of automobile glass without a deductible.
Jan 5-introduced in House
Jan 9-to Banking & Insurance (H); posted in committee
Jan 18-reported favorably, 1st reading, to Consent Calendar with Committee Substitute
Jan 19-2nd reading, to Rules; posted for passage in the Consent Orders of the Day for Tuesday, January 24, 2012
Jan 24-3rd reading, passed 97-0 with Committee Substitute
Jan 25-received in Senate
Jan 27-to Banking & Insurance (S)
Mar 20-reported favorably, 1st reading, to Calendar
Mar 21-2nd reading, to Rules
Mar 30-posted for passage in the Regular Orders of the Day for Friday, March 30, 2012; 3rd reading, passed 32-5; received in House; enrolled, signed by each presiding officer; delivered to Governor
Apr 11-signed by Governor (Acts ch. 64)