304.14-140 Standard provisions, in general.
(1)
(2)
(3)
(4)
Insurance contracts shall contain such standard or uniform provisions as are
required by the applicable provisions of this code pertaining to contracts of
particular kinds of insurance. The commissioner may waive the required use of a
particular provision in a particular insurance policy form if:
(a) The commissioner finds such provision unnecessary for or unrelated to the
protection of the insured and inconsistent with the purposes of the policy, and
(b) The policy is otherwise approved by the commissioner.
No policy shall contain any provision inconsistent with or contradictory to any
standard or uniform provision used or required to be used, but the commissioner
may approve any substitute provision which is, in his or her opinion, not less
favorable in any particular to the insured or beneficiary than the provisions
otherwise required.
In lieu of the provisions required by this code for contracts for particular kinds of
insurance, substantially similar provisions required by the law of the domicile of a
foreign or alien insurer may be used when approved by the commissioner.
A policy issued by a domestic insurer for delivery in another jurisdiction may
contain any provision required or permitted by the laws of such jurisdiction.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1153, effective July 15, 2010. -- Created
1970 Ky. Acts ch. 301, subtit. 14, sec. 14, effective June 18, 1970.
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