Kentucky Statutes 304.13-081 – Filings open to inspection — Consumer information system
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(1) All rates, supplementary rate information, and supporting information filed under KRS § 304.13-011 to KRS § 304.13-161 shall be open to public inspection at any reasonable time. Copies may be obtained by any person on request and on payment of a charge specified in Subtitle 4 of this chapter.
(2) The commissioner shall utilize, develop, or cause to be developed a consumer information system that will provide and disseminate price and other relevant information on a readily available basis to purchasers of homeowners or private passenger insurance. The commissioner may utilize, develop, or cause to be developed a consumer information system which will provide and disseminate price and other relevant information on a readily available basis to purchasers of insurance for commercial risks and personal risks not otherwise specified in this section. Such activity may be conducted internally within the department, in cooperation with other state insurance departments, through outside contractors, or in any other appropriate manner. To the extent the commissioner considers necessary and appropriate, insurers, advisory organizations, statistical agents, and other persons or organizations involved in conducting the business of insurance in this state, to which this section applies, shall cooperate with the commissioner in the development and utilization of a consumer information system. The reasonable cost of developing a consumer information system shall be assessed against insurers subject to this chapter on an equitable basis.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1124, effective July 15, 2010. — Amended 2000 Ky. Acts ch. 380, sec. 5, effective July 14, 2000. — Created 1982 Ky. Acts ch. 278, sec. 8, effective July 15, 1982.
(2) The commissioner shall utilize, develop, or cause to be developed a consumer information system that will provide and disseminate price and other relevant information on a readily available basis to purchasers of homeowners or private passenger insurance. The commissioner may utilize, develop, or cause to be developed a consumer information system which will provide and disseminate price and other relevant information on a readily available basis to purchasers of insurance for commercial risks and personal risks not otherwise specified in this section. Such activity may be conducted internally within the department, in cooperation with other state insurance departments, through outside contractors, or in any other appropriate manner. To the extent the commissioner considers necessary and appropriate, insurers, advisory organizations, statistical agents, and other persons or organizations involved in conducting the business of insurance in this state, to which this section applies, shall cooperate with the commissioner in the development and utilization of a consumer information system. The reasonable cost of developing a consumer information system shall be assessed against insurers subject to this chapter on an equitable basis.
Terms Used In Kentucky Statutes 304.13-081
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Rate: means the expected value of the future cost of insurance per exposure unit which accounts for the treatment of losses, expenses, and profit prior to any application of individual risk variations based on loss or expense considerations, but does not include minimum premium. See Kentucky Statutes 304.13-011
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1124, effective July 15, 2010. — Amended 2000 Ky. Acts ch. 380, sec. 5, effective July 14, 2000. — Created 1982 Ky. Acts ch. 278, sec. 8, effective July 15, 1982.