806 KAR 14:006. Property and
casualty insurance form filings.
RELATES TO: KRS 304.1-050, 304.4-010,
304.14-120, 304.14-190, 304.21-010, 304.13-051, 304.22-020, 304.23-010
STATUTORY AUTHORITY: KRS 304.2-110
NECESSITY, FUNCTION, AND CONFORMITY: KRS
304.2-110 authorizes the executive director to promulgate reasonable administrative
regulations necessary for or as an aid to the effectuation of any provision of
the Kentucky Insurance Code as defined in KRS 304.1-010. This administrative
regulation provides form filing procedures for property, casualty, surety,
title, and mortgage guaranty insurance.
Section 1. Definitions. (1) "Executive
director" is defined in KRS 304.1-050(1).
(2) "Office" is defined in KRS
304.1-050(2).
Section 2. (1) Every insurer, other than
life or health insurers, required by law or licensed advisory organization or
form provider permitted by law to file policy forms or endorsements, advertising
and sales materials, or other documents other than those pertaining to rates
shall file with these documents a completed and signed Form PC TD-1, "Property
& Casualty Transmittal Document" using the appropriate guidance
incorporated by reference in 806 KAR 13:150, Section 12(1)(f) through (nn).
(2) If the filling is being made by a
third party, a signed letter of authorization from the insurer shall be
submitted.
Section 3. (1) All paper filings shall
include two (2) full sets of documents on 8 1/2 in x 11 in white paper, with
three (3) copies of Form PC TD-1, Property & Casualty Transmittal Document"
and a self-addressed stamped envelope.
(2)(a) A property and casualty insurance
company, advisory organization, or form provider may file a form in an
electronic format established by the National Association of Insurance
Commissioners.
(b) An electronic filing shall be in lieu
of a paper filing.
Section 4. (1) A filing may include any
number of documents, filed together on a particular date, pertaining to a
single type of insurance from the "Uniform Property & Casualty Product
Coding Matrix".
(2) Forms shall be filed separately from
rates and rules.
Section 5. All form filings shall be
accompanied by a Form PC FFS 1, "Form Filing Schedule"
Section 6. (1) A policy or form shall not
be used in Kentucky until it has been approved.
(2) If the rates pertaining to a form are
required by law to be filed or approved, the form shall not be used until the
appropriate rates have been filed or approved as required in accordance with
KRS 304.14-120 and 304.13-051.
Section 7. (1) A property and casualty
form filing may include forms for a particular insurance company or group of
insurance companies.
(2) If the filing is made for a group of
insurance companies, Form PC TD-1, "Property & Casualty Transmittal
Document" shall identify all companies included in the filing.
Section 8. (1) Filing fees shall be paid
on a per-company basis.
(2) The period of time in which the
executive director may approve or disapprove the filing shall not begin to run
until both the complete filing and appropriate fee, in accordance with KRS
304.4-010 and 806 KAR 4:010, are received by the office.
Section 9. (1) Insurers that are members,
subscribers, or service purchasers of an advisory organization or form provider
permitted by law to file policy forms or endorsements, advertising and sales materials,
or other documents other than those pertaining to rates may choose to adopt all
or some of the forms of that advisory organization or form provider.
(2) If an insurer chooses to adopt only a
specific filing of an advisory organization or form provider, it shall do so in
accordance with the procedures set forth in this administrative regulation, and
shall clearly identify which filing of the advisory organization or form provider
it is adopting.
(3)(a) (If) an insurer chooses to adopt
all of the policy forms or endorsements, advertising and sales materials, or
other documents other than those pertaining to rates of an advisory organization
or form provider, it shall:
1.
Provide written authorization to the advisory organization or form provider to
file those materials on the insurer’s behalf; or
2. File written notice with the executive
director that it is adopting by reference all the current and future policy
forms or endorsements, advertising and sales materials, or other documents
other than those pertaining to rates that the advisory organization or form provider
files.
(b)1. The advisory organization or form
provider shall file the written notice of authorization referred to in
paragraph (a)1 of this subsection with the executive director and shall pay the
appropriate fee, in accordance with KRS 304.4-010 and 806 KAR 4:010.
2. The fee shall be paid for each company
sending the written authorization and on the basis of each line of insurance.
(c)1. If an insurer that previously
authorized an advisory organization or forms provider to file on its behalf as
referred to in paragraph (a)1 of this subsection, or an insurer that filed
written notice with the executive director to adopt by reference as referred to
in paragraph (a)2 of this subsection chooses not to adopt certain policy forms
or endorsements, advertising and sales materials, or other documents other than
those pertaining to rates as filed by the advisory organization or form
provider, the insurer shall file a notice of the nonadoption with the executive
director and shall pay the appropriate filing fee, in accordance with KRS
304.4-010 and 806 KAR 4:010.
2.a. If an insurer chooses to delay the
effective date of its adoption of an advisory organization or forms provider
filing, it shall submit a letter requesting the revised date upon which it shall
adopt the filing.
b. The delayed adoption date shall be
within six (6) months of the original effective date.
c. If additional time is needed, a second
letter shall be submitted to the office, requesting a revised delayed adoption
date.
d. All revised delayed adoption dates
shall be within one (1) year of the original effective date as filed by the
advisory organization or forms provider.
3. If an insurer does not adopt the
advisory organization or forms provider filing within one (1) year of the
original effective date as filed by the advisory organization or forms
provider, the insurer shall submit a nonadoption filing.
Section 10. If a filing includes a form
which amends, replaces, or supplements a form which has been previously filed
and not disapproved, it shall be accompanied by a letter of explanation from
the filer setting forth the following:
(1) All changes contained in the newly
filed form;
(2) The effect, if any, the changes have
upon the hazards purported to be assumed by the policy; and
(3) An explanation as to the effect on
the applicable rates.
Section 11. (1) Facsimile signatures of
company officers, attorneys-in-fact, employees and representatives shall not be
required and shall not be submitted with any filing.
(2) A change of signature of the
executing officer on a policy form shall not, because of this change alone,
require a new filing.
Section 12. Incorporation by Reference.
(1) The following material is incorporated by reference:
(a) "Uniform Property & Casualty
Product Coding Matrix", (March 1, 2007);
(b) Form PC TD-1, "Property & Causality
Transmittal Document", (March 1, 2007); and
(c) Form PC FFS-1, "Form Filing
Schedule", (March 1, 2007).
(2) This material may be inspected,
copied, or obtained, subject to applicable copyright law, at the Office of
Insurance, 215 West Main Street, Frankfort, Kentucky 40601, Monday through
Friday, 8 a.m. to 4:30 p.m. This material is also available on the department’s
internet Web site at: www.doi.state.ky.us. or the Web site of
the National Association of Insurance Commissioners at www.naic.org. (27 Ky.R. 1404; Am. 1809; eff. 1-15-2001; 34
Ky.R. 1550; 2289; eff. 5-2-2008.)
