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BILL #

CHAPTER #

ISSUE

BILL DESCRIPTION

HB 334

31

Producer Licensure

Relates to insurance producers; prohibits a licensed consultant, agent or agency with whom a consultant has a financial or business ownership interest or affiliation, from contracting, selling, or negotiating insurance for the risk of the client who is subject to the consulting contract during the term of the contract or within twelve months of the termination of the contract; permits consulting; provides that consulting fees may be shared with the business entity; requires retention of contracts. Effective date: July 15, 2008.

HB 393

88

Rental Vehicles

Defines the terms motor vehicle renting company, vehicle license cost and vehicle license cost recovery fee; requires that if a vehicle license cost recovery fee is charged on a rental transaction, the fee shall be a good-faith estimate of company's daily charge to recover its vehicle licensing cost; provides that if the vehicle cost recovery fees collected in a calendar year exceed the actual vehicle licensing costs; retains the excess and adjusts fee according. Effective date: July 15, 2008.

HB 524

94

Tax Issue

Defines local government, risk location system or program, and tax period; establishes the method for the filing of amended returns and requests or assessments by any insurance company, local government, or policyholder for nonpayment, underpayment, or overpayment of any license fees or taxes imposed as specified and the appeals from the denial or refuse thereof; permits an insurance company that has a license fee or tax imposed by local government to request a refund or credit for any overpayment. Effective date: Varies.

HB 534

38

Workers' Compensation

Relates to the issuance of certificates for workers' compensation insurance; requires an insurance carrier to provide notice to a certificate holder, named beneficiary, or any individual provided proof of insurance, if a workers' compensation insurance policy has lapsed, expired, or has been canceled, terminated, or not renewed. Effective date: July 15, 2008.

HB 551

40

Workers' Compensation

Relates to claims payments to administrators of pharmacy benefits; provides that a contract between an insurer and its pharmacy benefits administrator, participating pharmacy or its contracting agency that requires claims to be submitted electronically shall require that payment is to be made electronically; provides that an electronic claim must be submitted in the form required by the insurer if the participating provider or designee agrees to accept claims details for these payments electronically. Effective date: July 15, 2008.

HB 590

152

Financial Regulation

Regulates insurance examinations and examiners; provides for confidentiality of examination work papers; relates to analyses, ratios, public accountants and actuarial opinions; permits the executive director to examine or investigate to the extent necessary or material; relates to mortgages, investment owners, blind trusts, immunity and civil actions; prohibits offers of free insurance for theft as an inducement for the purchase, sale or rental of consumer goods or related services. Effective date: July 15, 2008.

HB 758

183

Workers' Compensation

Relates to workers' compensation self-insured groups; extends the application to bona fide trade associations; clarifies that a minimum surplus exemption applies to a group operating under a plan approved by the executive director, or an approved remedial plan; provides that security deposit requirements for custodian banks or trust companies are based on audited rather than certified statements of financial condition. Effective date: July 15, 2008.

SB 120

108

Traffic Safety

Amend KRS 189.125 to require that a child under age 7 years between 40 and 50 inches in height be secured in a child booster seat; amend KRS 189.990 relating to penalties for traffic offenses to require that a courtesy warning be issued for a first violation of the booster seat requirement; require that child restraint seat and booster seat fines are not subject to court costs, additional costs, or fees; require that seat belt violations are not subject to additional costs or fees; amend KRS 186.574 and 431.452 to conform. Effective date: July 15, 2008.

SB 199

55

Workers' Compensation

Provides for the American Medical Association Guides to the Evaluation of Permanent Impairment; adopts the fifth edition, rather than the most recent edition, of the American Medical Association Guides to the Evaluation of Permanent Impairment. Effective date: April 10, 2008.

SB 226

56

UM/UIM

Relates to the State Police; provides that the Department of State Police shall reimburse members who purchase a rider on their personal motor vehicle insurance policy to secure uninsured and underinsured motorist coverage; provides that the department shall determine the minimum coverage the member must purchase to be eligible; provides that the coverage shall be no less than the policy's liability limits for bodily injury or death. Effective date: July 15, 2008.