Notwithstanding any provision of this chapter or any other chapter of the Kentucky Revised Statutes or any rating manual or rule to the contrary, no workers’ compensation rate increases shall be applied retroactively, but rather shall be applied only to policies with inception or renewal dates on or after the effective date of the rate increase.
Effective: July 14, 1992
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Terms Used In Kentucky Statutes 304.13-058

  • Rate: means the expected value of the future cost of insurance per exposure unit which accounts for the treatment of losses, expenses, and profit prior to any application of individual risk variations based on loss or expense considerations, but does not include minimum premium. See Kentucky Statutes 304.13-011

History: Created 1992 Ky. Acts ch. 446, sec. 5, effective July 14, 1992.

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