304.13-071 Disapproval of rates and rate filings.
(1)
(2)
Existing rates in a noncompetitive market may be disapproved pursuant to the rating
standards of this chapter after a hearing. Rates that have been filed in a
noncompetitive market but that have not become effective may be disapproved
pursuant to the rating standards of this chapter without a hearing. However, any
insurer whose rates have been disapproved without a hearing shall be given a
hearing on a written request made within thirty (30) days after the disapproval
order. Hearings conducted under authority of this section shall be conducted in
accordance with KRS Chapter 13B. If a rate is disapproved, the commissioner shall
issue a final order specifying the reasons for disapproval. Any party aggrieved by
the final order of the commissioner may appeal as provided in KRS 304.2-370. The
effect of a final order shall be stayed during the pendency of the appeal and the
existing rate shall remain in effect until the final conclusion thereof.
At any hearing concerning an increase in worker's compensation rates conducted
pursuant to subsection (1), the commissioner may approve a rate other than one that
has been proposed by the filer if it is justified by the evidence presented at the
hearing.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1123, effective July 15, 2010. -Amended 1996 Ky. Acts ch. 318, sec. 233, effective July 15, 1996. -- Amended 1994
Ky. Acts ch. 93, sec. 21, effective July 15, 1994. -- Created 1982 Ky. Acts ch. 278,
sec. 7, effective July 15, 1982.
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.
