Kentucky Statutes 342.815 – Insurance coverage provisions
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(1) The authority may provide coverage for insurance, authorized in KRS § 342.803, to any employer in the Commonwealth, and who tenders the required premium for coverage and comply with other conditions and qualifications for obtaining and maintaining coverage adopted by the authority to protect and ensure its actuarial soundness and solvency.
(2) The authority shall provide coverage to any employer who is unable to secure coverage in the voluntary market unless:
(a) The employer owes undisputed premiums to a previous workers’ compensation carrier or to a workers’ compensation residual market mechanism; or
(b) Providing coverage to the employer would subject the authority or its employees to a violation of federal or state law.
Effective: June 29, 2023
History: Amended 2023 Ky. Acts ch. 146, sec. 41, effective June 29, 2023. — Created
1994 Ky. Acts ch. 181, Part 12, sec. 46, effective April 4, 1994.
(2) The authority shall provide coverage to any employer who is unable to secure coverage in the voluntary market unless:
Terms Used In Kentucky Statutes 342.815
- Carrier: means any insurer, or legal representative thereof, authorized to insure the liability of employers under this chapter and includes a self-insurer. See Kentucky Statutes 342.0011
- Compensation: means all payments made under the provisions of this chapter representing the sum of income benefits and medical and related benefits. See Kentucky Statutes 342.0011
- Federal: refers to the United States. See Kentucky Statutes 446.010
- premium: includes the initial consideration plus any reimbursements invoiced for losses, expenses, or fees charged under the deductibles. See Kentucky Statutes 342.0011
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
(a) The employer owes undisputed premiums to a previous workers’ compensation carrier or to a workers’ compensation residual market mechanism; or
(b) Providing coverage to the employer would subject the authority or its employees to a violation of federal or state law.
Effective: June 29, 2023
History: Amended 2023 Ky. Acts ch. 146, sec. 41, effective June 29, 2023. — Created
1994 Ky. Acts ch. 181, Part 12, sec. 46, effective April 4, 1994.