2014 Kentucky Revised Statutes CHAPTER 304 - INSURANCE CODE Subtitle 13 - Rates and Rating Organizations 13.13-053 Filing procedures for rates for use after December 31, 1998.
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304.13-053 Filing procedures for rates for use after December 31, 1998.
(1)
(2)
(3)
Unless the commissioner enters an order pursuant to KRS 304.13-041
declaring workers' compensation to be a noncompetitive market, rates filed for
use after December 31, 1998, shall be filed pursuant to KRS 304.13-051(1).
Notwithstanding the provisions of KRS 304.13-051 to the contrary, after
December 31, 1998, no insurer providing workers' compensation insurance
shall place into effect any rates, manuals, or underwriting rules for workers'
compensation insurance which it proposes to use pursuant to KRS
304.13-051(1) or (4) if the rates, manuals, or underwriting rules will result in an
increase or decrease of more than fifteen percent (15%) from the workers'
compensation insurer's then-existing workers' compensation insurance rates
for any classification of risks within a twelve (12) month period of time.
After December 31, 1998, any workers' compensation insurer which proposes
to change its then-existing rates, manuals, or underwriting rules so as to
effectively increase or decrease the rates of any classification of risks more
than fifteen percent (15%) within a twelve (12) month period shall file all the
rates and supplemental rating information which shall not become effective
until approved by the commissioner pursuant to the provisions of KRS
304.13-051.
Effective:July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1117, effective July 15, 2010; and
ch. 166, sec. 2, effective July 15, 2010. -- Created 1996 (1st Extra. Sess.) Ky.
Acts ch. 1, sec. 49, effective December 12, 1996.
Legislative Research Commission Note (7/15/2010). This section was amended
by 2010 Ky. Acts chs. 24 and 166. Where these Acts are not in conflict, they
have been codified together. Where a conflict exists, Acts ch. 166 which was
last enacted by the General Assembly, prevails under KRS 446.250.
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