2014 Kentucky Revised Statutes CHAPTER 304 - INSURANCE CODE Subtitle 9 - Agents, Consultants, Solicitors and Adjusters 9.9-496 Operator of self-service storage facility may offer and sell insurance on behalf of a limited lines self-service storage space insurance producer -- Conditions -- Producer is responsible for operator's acts.
Download as PDF
304.9-496
Operator of self-service storage facility may offer and sell
insurance on behalf of a limited lines self-service storage space
insurance producer -- Conditions -- Producer is responsible for
operator's acts.
(1)
(2)
(3)
An operator of a self-service storage facility may offer and disseminate
insurance for personal property located within a leased space at a self-service
storage facility on behalf of and under the control of a limited lines self-service
storage space insurance producer only if the limited lines self-service storage
space insurance producer complies with the following:
(a) The limited lines self-service storage space insurance producer is clearly
identified, including the entity's name and contact information, on
marketing materials and fulfillment packages distributed by self-service
storage facility operators to customers;
(b) At the time of licensure, the limited lines self-service storage space
insurance producer shall establish and maintain a register on a form
prescribed by the commissioner of each facility that offers self-service
storage space insurance on the limited lines self-service storage space
insurance producer's behalf. The register shall be maintained and
updated annually by the limited lines self-service storage space insurance
producer and shall include the name, address, contact information, and
Federal Employment Identification Number of the operator and the name,
address, and contact information of any officer or person employed by the
operator who directs or controls the self-service storage facility
operations. The limited lines self-service storage space insurance
producer shall submit the register upon request from the commissioner.
The limited lines self-service storage space insurance producer shall also
certify that it complies with 18 U.S.C. sec. 1033;
(c) The limited lines self-service storage space insurance producer has
designated one (1) of its employees as a licensed individual responsible
for the business entity's compliance with KRS 304.9-495 to 304.9-497
and the insurance laws, rules, and administrative regulations of the state;
and
(d) The limited lines self-service storage space insurance producer requires
each employee of the operator whose duties include offering and
disseminating insurance to receive a program of instruction or training,
which may be subject to review by the commissioner. The training
material shall, at a minimum, contain instructions on the types of
insurance offered, ethical sales practices, and required disclosures to
prospective customers.
Notwithstanding KRS 304.9-421 and 304.9-425, a self-service storage facility
operator, including its employees, whose activities relating to insurance are
limited to offering and disseminating insurance on behalf of and under the
direction of a limited lines self-service storage space insurance producer
meeting the conditions as set forth in this section, may offer and disseminate
insurance.
As the insurer's designee, the limited lines self-service storage space
insurance producer is responsible for the acts of the self-service storage space
operator.
Effective:July 15, 2014
History: Created 2014 Ky. Acts ch. 59, sec. 3, effective July 15, 2014.
Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.