SB 121 (BR 1410) - T. Buford
AN ACT relating to insurance consumer protections.
Create a new section of Subtitle 13 of KRS Chapter 304 to allow exceptions to an insurer’s use of credit information with regard to rates, rating classifications, tier placement and underwriting guidelines for specific life events; amend KRS 304.16-030 and 304.16-090 to allow insureds to contribute to the cost of their group life insurance; amend KRS 304.16-085 to amend the definition of dependent, as it relates to group life insurance, to allow dependent coverage for certain disabled dependents beyond age 18; create a new section of Subtitle 16 of KRS Chapter 304 to allow for discretionary groups; create new sections of Subtitles 17 and 18 of KRS Chapter 304 to define “actual charges” as it relates to claims payments under health benefit plans; create a new section of Subtitle 20 of KRS Chapter 304 to prohibit an insurer from canceling, nonrenewing, or increasing the premium based on an inquiry which does not reasonably apprise the insurer of a claim; amend KRS 304.20-040 to repeal subsection (1)(a)2.b. relating to a policy governing more than four automobiles; amend subsection (3) to require 14 days’ notice for cancellation of a personal automobile policy that has been in effect for less than 60 days; amend subsection (4) to address cancellations or nonrenewals of property and casualty coverage based solely on a specific life event that influences a person’s credit information; amend subsection (11) to require insurers to respond to a request for information from the Department of Insurance regarding the nonrenewal of a personal automobile policy within seven days; amend KRS 304.020-042 to cancellations or nonrenewal of property and casualty coverage based on a specific life event that influenced a person’s credit information.
SB 121 - AMENDMENTS
SFA (1, D. Ridley) - Retain original provisions but including language to allow for dependents 18 years or older to be dependents in they are attending a school, college, university or other accredited educational institution; specify the situation in which "actual charges" are to be given the definition provided.
Jan 26-introduced in Senate
Jan 30-to Banking & Insurance (S)
Feb 7-reported favorably, 1st reading, to Calendar
Feb 8-2nd reading, to Rules
Feb 10-floor amendment (1) filed
Feb 14-posted for passage in the Regular Orders of the Day for Wednesday, February 15, 2012
Feb 15-passed over and retained in the Orders of the Day
Feb 16-3rd reading, defeated 18-19 with floor amendment (1)