304.13-041 Monitoring market competition.
(1)
(2)
A competitive market for any line of insurance is presumed to exist unless the
commissioner, after a hearing, determines that a reasonable degree of competition
does not exist in the market for such line and issues an order to that effect. Such an
order shall expire no later than one (1) year after it is issued. In determining whether
a reasonable degree of competition exists, the commissioner shall consider all
relevant information pertaining to the market and the opportunities available to
consumers in the market to acquire pricing and other consumer information, and to
compare and obtain insurance from competing insurers.
The commissioner shall monitor the degree of competition in this Commonwealth.
In doing so, the commissioner may utilize existing relevant information ormay
develop new relevant information. The activities may be conducted internally
within the Department of Insurance, in cooperation with other state insurance
departments, through outside contractors, or in any other appropriate manner. The
relevant information in determining the competitiveness of a specific market may
include the number of insurers actively engaged in providing coverage, market
shares, and changes in market shares and ease of entry.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1115, effective July 15, 2010. -- Created
1982 Ky. Acts ch. 278, sec. 4, effective July 15, 1982.
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