Kentucky Statutes 342.382 – Report of workers’ compensation experience
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(1) Any insurer authorized to write a policy of workers’ compensation insurance shall transmit the following information on its workers’ compensation experience only to the Department of Workers’ Claims each year, and that information shall be certified and reported on a net basis with respect to reinsurance for nationwide experience and direct basis with respect to Kentucky experience:
(a) Direct premiums written; (b) Direct premiums earned;
(c) Dividends paid or credited to policyholders; (d) Losses paid;
(e) Allocated loss adjustment expenses;
(f) The ratio of allocated loss adjustment expenses to losses paid; (g) Unallocated loss adjustment expenses;
(h) The ratio of unallocated loss adjustment expenses to losses paid;
(i) The total of losses paid and unallocated and allocated loss adjustment expenses;
(j) The ratio of losses paid and unallocated and allocated loss adjustment expenses to premiums earned;
(k) The number of claims outstanding as of December 31 of each year; (l) The total amount of losses unpaid as of December 31 of each year;
(m) The total amount of allocated and unallocated loss adjustment expenses unpaid as of December 31 of each year;
(n) The total of losses paid and allocated loss adjustment expenses and unallocated loss adjustment expenses, plus the total of losses unpaid as of December 31 of each year and loss adjustment expenses unpaid as of December 31 of each year; and
(o) Net investment gain or loss.
(2) Beginning with the report for the period ending December 31, 1989, all future reports shall have all information required by subsection (1) of this section broken down by year for the current and two (2) preceding years.
Effective:June 29, 2017
History: Amended 2017 Ky. Acts ch. 80, sec. 26, effective June 29, 2017; and ch.
82, sec. 9, effective June 29, 2017. — Amended 2010 Ky. Acts ch. 24, sec.
1828, effective July 15, 2010. — Amended 1994 Ky. Acts ch. 181, Part 15, sec.
86, effective April 4, 1994. — Created 1987 (1st Extra. Sess.) Ky. Acts ch. 1, sec.
61(9), (10), effective October 26, 1987.
Legislative Research Commission Note (6/29/2017). This statute was amended by 2017 Ky. Acts chs. 80 and 82, which do not appear to be in conflict and have been codified together.
(a) Direct premiums written; (b) Direct premiums earned;
Terms Used In Kentucky Statutes 342.382
- 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
- Department: means the Department of Workers' Claims in the Education and
Labor Cabinet. See Kentucky Statutes 342.0011 - Statute: A law passed by a legislature.
- Year: means calendar year. See Kentucky Statutes 446.010
(c) Dividends paid or credited to policyholders; (d) Losses paid;
(e) Allocated loss adjustment expenses;
(f) The ratio of allocated loss adjustment expenses to losses paid; (g) Unallocated loss adjustment expenses;
(h) The ratio of unallocated loss adjustment expenses to losses paid;
(i) The total of losses paid and unallocated and allocated loss adjustment expenses;
(j) The ratio of losses paid and unallocated and allocated loss adjustment expenses to premiums earned;
(k) The number of claims outstanding as of December 31 of each year; (l) The total amount of losses unpaid as of December 31 of each year;
(m) The total amount of allocated and unallocated loss adjustment expenses unpaid as of December 31 of each year;
(n) The total of losses paid and allocated loss adjustment expenses and unallocated loss adjustment expenses, plus the total of losses unpaid as of December 31 of each year and loss adjustment expenses unpaid as of December 31 of each year; and
(o) Net investment gain or loss.
(2) Beginning with the report for the period ending December 31, 1989, all future reports shall have all information required by subsection (1) of this section broken down by year for the current and two (2) preceding years.
Effective:June 29, 2017
History: Amended 2017 Ky. Acts ch. 80, sec. 26, effective June 29, 2017; and ch.
82, sec. 9, effective June 29, 2017. — Amended 2010 Ky. Acts ch. 24, sec.
1828, effective July 15, 2010. — Amended 1994 Ky. Acts ch. 181, Part 15, sec.
86, effective April 4, 1994. — Created 1987 (1st Extra. Sess.) Ky. Acts ch. 1, sec.
61(9), (10), effective October 26, 1987.
Legislative Research Commission Note (6/29/2017). This statute was amended by 2017 Ky. Acts chs. 80 and 82, which do not appear to be in conflict and have been codified together.