Issues

Background on PIP Personal Injury Protection (PIP) is a mandatory auto insurance coverage in Kentucky. All insured drivers must carry PIP coverage of at least $10,000, but additional coverage can be obtained for up to $50,000. The coverage can be used for medical expenses, lost wages, funeral expenses, and replacement services. Costs Are Increasing PIP […]

Background on the Tax: Kentucky policyholders often have questions about the taxes that show up on their premium notices.  Kentucky law permits local governments to impose taxes on premiums charged by insurance companies, although not all of them do. According to the latest information available from the Kentucky Department of Insurance (DOI), 362 municipalities and […]

How Are Insurance Premiums Determined? Insurance is often said to rely upon the law of large numbers in which a large number of people facing a common risk come together to share the costs of that risk. It’s really fairly simple – everyone pays a premium, and when you have a “covered” loss, you collect […]

Background on Emergency Response Fees In many states, particularly in the Midwest, many local communities have begun the practice of instituting “emergency response fees” that are billed to those involved in an auto accident or other incidents that require a response by emergency first responders. These fees charged are in addition to the taxes already […]

Business Interruption Coverage This spring, in response to the rapidly spreading virus about which little was initially known, state governments responded by limiting the activities of some businesses and closing others altogether. Business owners who were faced with massive losses of revenue began to question whether or not business interruption insurance coverage would cover income […]