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Home / News / IIK Leads in Passage of HB 313 – Fixes Two Issues
May 21, 2020
Mark Treesh
News
Comments Off on IIK Leads in Passage of HB 313 – Fixes Two Issues

IIK Leads in Passage of HB 313 – Fixes Two Issues

IIK worked with Rep. Joe Fischer to pass HB 313 in order to modernize two aspects of KY insurance law:

Auto Alarm Systems:

Kentucky statutes specify discounts that insurers must give for auto alarm systems. Those statutes were written in 1986 and specify outdated technology. In addition, the discounts required do not match the risk reduction associated with the use of alarm systems. HB 313 fixes this by requiring insurers to give appropriate discounts based on actuarial data on the system installed. This will allow auto alarm system discounts to work the same as virtually all other insurance discounts offered.

NICB Immunity:

Insurers in KY are required by law to report suspected insurance fraud to DOI’s Division of Insurance Fraud Investigation, and the law provides limited immunity for making those reports. In addition, most insurers share information about suspicious claims with NICB, a national, not-for-profit organization that works with member companies and law enforcement to investigate suspected fraud.

While insurers have limited civil immunity for their reporting to DOI’s Division of Insurance Fraud Investigation, NICB does not. HB 313 closes the immunity gap so that insurers can share information with NICB and NICB can share it with DOI with the same limited immunity provided to insurers.

The bill passed unanimously in each the House and the Senate, and it was signed into law by the Governor. The Auto Alarm System provisions will be effective for policies issued on or after January 1, 2021 and the NICB Immunity takes effect on July 15, 2020,

← Several Insurance Bills Pass in 2020 Legislative Session
IIK Helped Pass HB 150 to Blunt Impact of ALI Overreach →

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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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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