806 KAR 13:020.
Excess rates; consent form.
RELATES TO: KRS
AND CONFORMITY: KRS 304.2-110 provides that the Executive Director of
Insurance may make reasonable rules and administrative regulations necessary
for or as an aid to the effectuation of any provision of the Kentucky Insurance
Code. This administrative regulation requires an insurer and applicant to file
a form showing applicant's consent to the, if any, excess rate charged to him.
Section 1. When an
insurer and an applicant for insurance contemplated by KRS Chapter 304,
Subtitle 13, consent to rates to be charged in any specific instance in excess
of those filed by or on behalf of such insurer, the insurer shall, within ten (10)
days following the effective date of the policy, file with the executive
director in triplicate a writing signed by the applicant which
shall recite the following:
(1) The policy
(2) The inception
and expiration dates;
(3) The name and
address of the agent of record;
(4) The name of the
(5) The name and
address of the insured;
(6) The limits of
(7) The total
(8) The fact that
the rate exceed the filed rate;
(9) The reasons
(10) That the
insured has consented thereto.
Section 2. A copy of
such consent to rate shall be furnished to the insured.
Section 3. The executive
director shall take such action as he deems appropriate, as in
the case of all rates filed, and shall return to the agent and to the insurer,
one (1) copy of such consent, with his action indicated thereon. (I-13.05; 1
Ky.R. 864; eff. 5-14-75; TAm eff. 8-9-2007.)