Kentucky Statutes 304.13-053 – Filing procedures for rates for use after December 31, 1998
Current as of: 2024 | Check for updates
|
Other versions
(1) Unless the commissioner enters an order pursuant to KRS § 304.13-041 declaring workers’ compensation to be a noncompetitive market, rates filed for use after December 31, 1998, shall be filed pursuant to KRS § 304.13-051(1).
(2) Notwithstanding the provisions of KRS § 304.13-051 to the contrary, after December
31, 1998, no insurer providing workers’ compensation insurance shall place into effect any rates, manuals, or underwriting rules for workers’ compensation insurance which it proposes to use pursuant to KRS § 304.13-051(1) or (4) if the rates, manuals, or underwriting rules will result in an increase or decrease of more than fifteen percent (15%) from the workers’ compensation insurer’s then-existing workers’ compensation insurance rates for any classification of risks within a twelve (12) month period of time.
(3) After December 31, 1998, any workers’ compensation insurer which proposes to change its then-existing rates, manuals, or underwriting rules so as to effectively increase or decrease the rates of any classification of risks more than fifteen percent (15%) within a twelve (12) month period shall file all the rates and supplemental rating information which shall not become effective until approved by the commissioner pursuant to the provisions of KRS § 304.13-051.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1117, effective July 15, 2010; and ch.
166, sec. 2, effective July 15, 2010. — Created 1996 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 49, effective December 12, 1996.
Legislative Research Commission Note (7/15/2010). This section was amended by
2010 Ky. Acts chs. 24 and 166. Where these Acts are not in conflict, they have been codified together. Where a conflict exists, Acts ch. 166 which was last enacted by the General Assembly, prevails under KRS § 446.250.
(2) Notwithstanding the provisions of KRS § 304.13-051 to the contrary, after December
Terms Used In Kentucky Statutes 304.13-053
- classification: means the process of grouping risks with similar risk characteristics so that differences in cost may be recognized. See Kentucky Statutes 304.13-011
- Month: means calendar month. See Kentucky Statutes 446.010
- noncompetitive market: is a market for which there is an order in effect pursuant to KRS §. See Kentucky Statutes 304.13-011
31, 1998, no insurer providing workers’ compensation insurance shall place into effect any rates, manuals, or underwriting rules for workers’ compensation insurance which it proposes to use pursuant to KRS § 304.13-051(1) or (4) if the rates, manuals, or underwriting rules will result in an increase or decrease of more than fifteen percent (15%) from the workers’ compensation insurer’s then-existing workers’ compensation insurance rates for any classification of risks within a twelve (12) month period of time.
(3) After December 31, 1998, any workers’ compensation insurer which proposes to change its then-existing rates, manuals, or underwriting rules so as to effectively increase or decrease the rates of any classification of risks more than fifteen percent (15%) within a twelve (12) month period shall file all the rates and supplemental rating information which shall not become effective until approved by the commissioner pursuant to the provisions of KRS § 304.13-051.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1117, effective July 15, 2010; and ch.
166, sec. 2, effective July 15, 2010. — Created 1996 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 49, effective December 12, 1996.
Legislative Research Commission Note (7/15/2010). This section was amended by
2010 Ky. Acts chs. 24 and 166. Where these Acts are not in conflict, they have been codified together. Where a conflict exists, Acts ch. 166 which was last enacted by the General Assembly, prevails under KRS § 446.250.