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IIK worked in the 2022 legislative session to pass HB 380 which updated Kentucky’s insurance rebating laws to reflect modern insurance marketing practices. The existing rebating laws had been unchanged for a number of years and did not allow for the latest developments in marketing insurance. The bill, which was sponsored by Rep. Bart Rowland, passed unanimously in each chamber before being signed into law by the Governor.

HB 380 modernizes KY’s insurance laws on gifts to existing or prospective policyholders, and it also allows insurers to provide loss-mitigation devices to policyholders for free or at a reduced cost. Before HB 380, the laws on rebating may have prevented insurers from providing “smart” or connected technology that is designed to reduce losses or premiums. This update in the law brings KY’s insurance marketing laws up to date and aligns them more closely with those of surrounding states.