2011 Kentucky Revised Statutes Subtitle 13. Rates and Rating Organizations 304.13.340 Phase-out of Workers' Compensation Insurance Plan -- Transfer of insureds to Employers' Mutual Insurance Authority.
KY Rev Stat § 304.13.340 (1996 through Reg Sess) What's This?
304.13-340 Phase-out of Workers' Compensation Insurance Plan -- Transfer of
insureds to Employers' Mutual Insurance Authority.
The Workers' Compensation Insurance Plan (KWCIP), a workers' compensation residual
market mechanism, in existence by virtue of this subtitle, shall not write new policies or
renew policies after September 1, 1995. The board of directors of the Employers' Mutual
Insurance Authority, the commissioner of the Department of Workers' Claims, and the
commissioner of the Department of Insurance shall develop a plan, which shall be
reviewed by the Labor and Industry Committee and the Banking and Insurance
Committee of the General Assembly, for the orderly and equitable phase-out of the
KWCIP. All claims on workers' compensation assigned risk policies in effect or issued
prior to September 1, 1995, shall be paid by the KWCIP. The plan developed shall
include procedures for application and transfer of the insureds in the KWCIP to the
authority, who shall be subject to the qualifications and conditions of coverage required
in KRS 342.801 to 342.843 and this section. The authority shall not be liable for any
liabilities or deficits incurred on assigned risk policies in effect or issued prior to
September 1, 1995.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1138, effective July 15, 2010. -- Created
1994 Ky. Acts ch. 181, sec. 60, effective April 4, 1994.
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