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2021 Kentucky Revised Statutes
Chapter 304 - Insurance code
Subtitle 304.47 - Insurance Fraud
304.47-080 Insurers to maintain investigative units.

Universal Citation: KY Rev Stat § 304.47-080 (2021)
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304.47-080 Insurers to maintain investigative units. (1) (2) (3) (4) Every insurer admitted to do business in the Commonwealth shall maintain effective procedures and resources to deter and investigate fraudulent insurance acts prohibited by this subtitle, including a unit that will investigate suspected fraudulent insurance acts. For the purpose of this section, "insurer" does not include reinsurers or reinsurance as defined in KRS 304.5-130. Insurers may maintain the unit required by subsection (1) of this section, using its employees or by contracting with others for that purpose. Insurers shall establish the unit required by this section no later than July 15, 1995. The unit may include the assignment of fraud investigation to employees whose principal responsibilities are the investigation and disposition of claims. If an insurer creates a distinct unit, hires additional employees, or contracts with another entity to fulfill the requirements of this article, the additional cost incurred shall be included as an administrative expense. Effective: July 14, 2000 History: Amended 2000 Ky. Acts ch. 253, sec. 9, effective July 14, 2000. -- Amended 1998 Ky. Acts ch. 129, sec. 1, effective July 15, 1998. -- Created 1994 Ky. Acts ch. 496, sec. 24, effective July 15, 1994.
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