2014 Kentucky Revised Statutes CHAPTER 304 - INSURANCE CODE Subtitle 20 - Casualty Insurance Contracts 20.20-100 Loss run statement to be provided upon request -- Duties of insurer and insurer's agent.
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304.20-100 Loss run statement to be provided upon request -- Duties of
insurer and insurer's agent.
(1)
(2)
(3)
(4)
(5)
(6)
As used in this section:
(a) "Commercial property and casualty" means any kind of property and
casualty insurance relating to commercial risks that is not insurance for
personal risks as defined in KRS 304.13-011;
(b) "Loss run statement" means a report relating to commercial property and
casualty risks maintained by an insurer containing the history of claims
occurring within a policy term; and
(c) "Provide" means to mail, personally deliver, or electronically send a
document, or to allow access through an electronic portal to view or
generate a document.
An insurer shall provide a loss run statement to an insured or an insurer's
agent within twenty (20) calendar days of receipt of a written request submitted
by the insured or the insurer's agent.
An insurer's agent that receives a loss run statement pursuant to subsection
(2) of this section shall provide a copy of the loss run statement to the insured
within five (5) calendar days of receipt by the agent.
The loss run statement provided pursuant to subsection (2) of this section shall
be a five (5) year loss run history for the prior five (5) years or a complete loss
run history with the insurer if the history is less than five (5) years.
An insurer's agent that receives a loss run statement pursuant to subsection
(2) of this section shall not divulge consumer information to any third party,
except in accordance with applicable laws governing the privacy of consumer
financial information, health information, or other information that is otherwise
required by law to be held as confidential.
An insurer shall not charge any fees to prepare and provide one (1) loss run
statement in accordance with subsection (2) of this section.
Effective:July 12, 2012
History: Created 2012 Ky. Acts ch. 64, sec. 1, effective July 12, 2012.
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