Kentucky Statutes 304.20-350 – Penalties for violations of KRS 304.20-320 to this section
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If the commissioner determines that:
(1) An insurer has violated KRS § 304.20-320, 304.20-330 or 304.20-340, the commissioner may require the insurer to:
(a) Accept the application or written request for insurance coverage at a rate and on the same terms and conditions as are available to other risks similarly situated;
(b) Reinstate insurance coverage to the end of the policy period; or
(c) Continue insurance coverage at a rate and on the same terms and conditions as are available to other risks similarly situated;
(2) Any person has violated any provisions of KRS § 304.20-320 to this section, the commissioner may:
(a) Issue a cease and desist order to restrain such person from engaging in practices which violate KRS § 304.20-320 to this section;
(b) Suspend or revoke such person’s license or certificate of authority;
(c) Assess a civil penalty against such person pursuant to KRS § 304.99-020; or
(d) Take any combination of the actions specified in this section.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1314, effective July 15, 2010. — Created
1986 Ky. Acts ch. 426, sec. 6, effective July 15, 1986.
(1) An insurer has violated KRS § 304.20-320, 304.20-330 or 304.20-340, the commissioner may require the insurer to:
Terms Used In Kentucky Statutes 304.20-350
- Violate: includes failure to comply with. See Kentucky Statutes 446.010
(a) Accept the application or written request for insurance coverage at a rate and on the same terms and conditions as are available to other risks similarly situated;
(b) Reinstate insurance coverage to the end of the policy period; or
(c) Continue insurance coverage at a rate and on the same terms and conditions as are available to other risks similarly situated;
(2) Any person has violated any provisions of KRS § 304.20-320 to this section, the commissioner may:
(a) Issue a cease and desist order to restrain such person from engaging in practices which violate KRS § 304.20-320 to this section;
(b) Suspend or revoke such person’s license or certificate of authority;
(c) Assess a civil penalty against such person pursuant to KRS § 304.99-020; or
(d) Take any combination of the actions specified in this section.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1314, effective July 15, 2010. — Created
1986 Ky. Acts ch. 426, sec. 6, effective July 15, 1986.