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Home / News / Several Insurance Bills Pass in 2020 Legislative Session
May 21, 2020
Mark Treesh
News
Comments Off on Several Insurance Bills Pass in 2020 Legislative Session

Several Insurance Bills Pass in 2020 Legislative Session

A number of bills with an insurance impact passed during the 2020 legislative session. The key bills were as follows:

  • HB 417 (Rep. Bart Rowland) – Credit for Reinsurance Model Act Amendments:  In 2019, the National Association of Insurance Commissioners gave its approval to amendments to the Credit for Reinsurance Model Law and Regulation. These standards are part of the uniform accreditation standard applicable to all NAIC-accredited jurisdictions, including the KY Department of Insurance. HB 417 amended KY’s statutes to conform with the amendment to the Model Act and assures that KY’s Department of Insurance will meet that accreditation standard.
  • HB 154 (Rep. Ed Massey) – Kentucky Uniform Powers of Appointment Act: This bill adopted a model act related to the powers of attorney. IIK worked with the sponsor to add a section to the bill to fix an issue with the power of attorney form required when auto insurers seek a salvage title for salvage vehicles.
  • HB 378 (Rep. Thomas) – County Clerk Liability for Salvage Titles: This bill gave County Clerks immunity from liability on the transfer of salvage title vehicles when they rely on information provided by the owner of the vehicle. IIK supported a provision that allows e-signature transfer of salvage titles from the owner to an insurance company.

These bills all take effect on July 15, 2020.

← Insurance and the Pandemic
IIK Leads in Passage of HB 313 – Fixes Two Issues →

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

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[email protected]

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