Kentucky Statutes 304.45-110 – Group subject to unfair claims and settlement practices laws and regulations — Commissioner to enforce
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(1) A risk retention group doing business in this state shall be subject to all applicable unfair claims settlement practices laws and regulations as provided in KRS § 304.3-
200, 304.12-220, and 304.12-230.
(2) The commissioner is authorized to make use of any of the powers established under the insurance statutes and regulations of this state to enforce the laws of this state so long as those powers are not specifically preempted by the Product Liability Risk Retention Act of 1981 (P.L. 97-45) and the Liability Risk Retention Act of 1986 (P.L. 99-563), 15 U.S.C. secs. 3901 et seq. This includes, but is not limited to, the commissioner’s administrative authority to investigate, issue subpoenas, conduct depositions and hearings, issue orders, and impose penalties. Without regard to any investigation, administrative proceedings, or litigation, the commissioner can rely on the procedural law and regulations of the state. The injunctive authority of the commissioner in regard to risk retention groups is restricted by the requirement that any injunction be issued by a court of competent jurisdiction.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1578, effective July 15, 2010. — Amended 1990 Ky. Acts ch. 165, sec. 9, effective July 13, 1990. — Created 1986 Ky. Acts ch. 308, sec. 11, effective July 15, 1986.
200, 304.12-220, and 304.12-230.
Terms Used In Kentucky Statutes 304.45-110
- Commissioner: means the commissioner of the Kentucky Department of Insurance or the insurance supervisor of another state. See Kentucky Statutes 304.45-020
- Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
- Insurance: means primary insurance, excess insurance, reinsurance, surplus lines insurance, and any other arrangement for shifting and distributing risks which is determined to be insurance under the laws of this state. See Kentucky Statutes 304.45-020
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- Risk retention group: means any corporation or other limited liability association: (a) Whose primary activity consists of assuming and spreading all, or any portion,
of the liability exposure of its group members. See Kentucky Statutes 304.45-020 - Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- State: means any state of the United States or the District of Columbia. See Kentucky Statutes 304.45-020
(2) The commissioner is authorized to make use of any of the powers established under the insurance statutes and regulations of this state to enforce the laws of this state so long as those powers are not specifically preempted by the Product Liability Risk Retention Act of 1981 (P.L. 97-45) and the Liability Risk Retention Act of 1986 (P.L. 99-563), 15 U.S.C. secs. 3901 et seq. This includes, but is not limited to, the commissioner’s administrative authority to investigate, issue subpoenas, conduct depositions and hearings, issue orders, and impose penalties. Without regard to any investigation, administrative proceedings, or litigation, the commissioner can rely on the procedural law and regulations of the state. The injunctive authority of the commissioner in regard to risk retention groups is restricted by the requirement that any injunction be issued by a court of competent jurisdiction.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1578, effective July 15, 2010. — Amended 1990 Ky. Acts ch. 165, sec. 9, effective July 13, 1990. — Created 1986 Ky. Acts ch. 308, sec. 11, effective July 15, 1986.