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Home / News / HB 170 Passed to Streamline Settlements for Minors
Jun 27, 2022
Mark Treesh
News
Comments Off on HB 170 Passed to Streamline Settlements for Minors

HB 170 Passed to Streamline Settlements for Minors

It is not uncommon for a minor to receive a settlement in a lawsuit. To protect the minor’s interests, settlements above a certain amount must be approved by a court. HB 170, based on model legislation from the National Conference of Insurance Legislators, was passed in the 2022 legislative session to modernize KY’s laws involving settlements involving minors, This bill will allow more settlements to be made without court approval when both parties agree, saving on legal fees for all involved.

HB 170 was sponsored by Rep. Joe Fischer, and IIK worked with Rep. Fischer and the KY Justice Association to work out the terms of the updated law. The bill passed unanimously in each chamber before being signed into law by the Governor.

← HB 380 Passed to Modernize KY Insurance Laws
IIK’s 2023 Agenda Items →

News

  • IIK’s 2023 Agenda Items
  • HB 170 Passed to Streamline Settlements for Minors
  • HB 380 Passed to Modernize KY Insurance Laws
  • IIK Supports Hands-free Cell Phone Use Legislation
  • IIK’s 2022 Agenda Items

Issues

  • Insurance and the Pandemic
  • Personal Injury Protection (PIP) Auto Insurance Coverage
  • Local Government Insurance Premium Taxes (Municipal Premium Taxes)
  • The Use of Credit-Scoring in Setting Premiums
  • Municipal Emergency Response Fees (Accident Taxes)

IIK AMICUS BRIEF PROGRAM

IIK accepts applications from members and non-members to file an amicus brief in cases which could have an impact on insurance law in Kentucky. Learn more about how to apply here.

INSURANCE 101

Insurance 101 contains information on the basics of insurance as well as a brief look at some key issues that affect insurance consumers. Just click here to take a quick tour.

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Insurance Institute of Kentucky

Our Issues

  • Insurance and the Pandemic
  • Personal Injury Protection (PIP) Auto Insurance Coverage
  • Local Government Insurance Premium Taxes (Municipal Premium Taxes)
  • The Use of Credit-Scoring in Setting Premiums
  • Municipal Emergency Response Fees (Accident Taxes)

About IIK

The Insurance Institute of Kentucky is a non-profit corporation dedicated to educating, supporting and assisting the Kentucky insurance consumer, market and industry. read more...

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