2011 Kentucky Revised Statutes Subtitle 13. Rates and Rating Organizations 304.13.370 Increase in fire insurance premiums prohibited until the running of the appeal period or until approval by the board of the classification assigned.
KY Rev Stat § 304.13.370 (1996 through Reg Sess) What's This?
304.13-370 Increase in fire insurance premiums prohibited until the running of the
appeal period or until approval by the board of the classification assigned.
(1)
(2)
No insurer may increase premiums for fire insurance based on a fire protection
classification until the expiration of the thirty (30) day period for appeal by the fire
protection district, municipality or locality, as provided in KRS 304.13-355. If an
appeal is filed, no insurer may increase such premiums until approval of the fire
protection classification by the commissioner.
If the commissioner's reassignment or modification of a fire protection classification
results in lower fire insurance premiums, the appropriate insurers shall make any
refunds of paid premiums due to customers within the affected fire protection
district, municipality or locality. Such refunds shall be determined from the date the
advisory organization or insurer last assigned or reassigned the classification
appealed.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1143, effective July 15, 2010. -Amended 2000 Ky. Acts ch. 380, sec. 20, effective July 14, 2000. -- Amended 1980
Ky. Acts ch. 187, sec. 21, effective July 15, 1980. -- Created 1978 Ky. Acts ch. 199,
sec. 6, effective June 17, 1978.
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