304.20-330 Reasons for cancellation.
After coverage has been in effect more than sixty (60) days or after the effective date of a
renewal policy a notice of cancellation shall not be issued unless it is based on at least one
(1) of the following reasons:
(1) Nonpayment of premium;
(2) Discovery of fraud or material misrepresentation made by or with the knowledge of
the named insured in obtaining the policy, continuing the policy, or in presenting a
claim under the policy;
(3) Discovery of willful or reckless acts or omissions on the part of the named insured
which increase any hazard insured against;
(4) The occurrence of a change in the risk which substantially increases any hazard
insured against after insurance coverage has been issued or renewed;
(5) A violation of any local fire, health, safety, building, or construction regulation or
ordinance with respect to any insured property or the occupancy thereof which
substantially increases any hazard insured against;
(6) The insurer is unable to reinsure the risk covered by the policy; or
(7) A determination by the commissioner that the continuation of the policy would
place the insurer in violation of the Kentucky insurance code or regulations of the
commissioner.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1313, effective July 15, 2010. -- Created
1986 Ky. Acts ch. 426, sec. 4, effective July 15, 1986.
Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
