2006 Kentucky Revised Statutes - .120   Aggregate excess insurance -- Administrative regulations -- Eligibility to write excess liability coverage for group.

304.50-120 Aggregate excess insurance -- Administrative regulations -- Eligibility to write excess liability coverage for group. (1) The executive director shall promulgate administrative regulations setting forth the requirements for aggregate excess insurance and the standards for granting a waiver. (2) Except for a worker's compensation self-insured group granted a waiver, the trustees shall purchase aggregate excess insurance. (3) The trustees shall purchase specific excess insurance coverage with a limit of at least twenty-five million dollars ($25,000,000) per occurrence. (4) To be eligible to write excess liability coverage for a self-insured group, a casualty insurance company shall at all times maintain twenty-five million dollars ($25,000,000) of minimum policyholder surplus. Effective: March 1, 2005 History: Created 2005 Ky. Acts ch. 7, sec. 24, effective March 1, 2005. Legislative Research Commission Note (3/1/2005). 2005 Ky. Acts chs. 11, 85, 95, 97, 98, 99, 123, and 181 instruct the Reviser of Statutes to correct statutory references to agencies and officers whose names have been changed in 2005 legislation confirming the reorganization of the executive branch. Such a correction has been made in this section. Page 1 of 1