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2017 Kentucky Revised Statutes
CHAPTER 304 - INSURANCE CODE
Subtitle 14 - The Insurance Contract
304.14-110 Representations in applications.

Universal Citation: KY Rev Stat § 304.14-110 (2017)
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304.14-110 Representations in applications. All statements and descriptions in any application for an insurance policy or annuity contract, by or on behalf of the insured or annuitant, shall be deemed to be representations and not warranties. Misrepresentations, omissions, and incorrect statements shall not prevent a recovery under the policy or contract unless either: (1) Fraudulent; or (2) Material either to the acceptance of the risk, or to the hazard assumed by the insurer; or (3) The insurer in good faith would either not have issued the policy or contract, or would not have issued it at the same premium rate, or would not have issued a policy or contract in as large an amount, or would not have provided coverage with respect to the hazard resulting in the loss, if the true facts had been made known to the insurer as required either by the application for the policy or contract or otherwise. This subsection shall not apply to applications taken for workers' compensation insurance coverage. Effective: April 4, 1994 History: Amended 1994 Ky. Acts ch. 181, sec. 65, effective April 4, 1994. -- Created 1970 Ky. Acts ch. 301, subtit. 14, sec. 11, effective June 18, 1970.
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