RELATES TO:
KRS 304.1-050,
304.48-020(7),
304.48-050,
304.48-070,
304.48-170,
304.48-230
NECESSITY, FUNCTION, AND CONFORMITY:
KRS 304.48-230 permits the commissioner to
promulgate administrative regulations as necessary for the proper
administration of KRS Chapter 304.48.
KRS 304.48-050 requires a proposed liability
self-insurance group to file an application on a form approved by the
commissioner.
KRS 304.48-070 permits the commissioner to
require a liability self-insurance group to provide a security deposit to the
commissioner in the form and amount prescribed by the commissioner.
KRS 304.48-170 requires liability self-insurance
groups to file statements of financial condition on a form prescribed by the
commissioner. This administrative regulation prescribes the required forms for
application, security deposits and financial statements.
Section 1. Definitions.
(1) "Commissioner" is defined in
KRS 304.1-050(1).
(2) "Department" is defined in
KRS 304.1-050(2).
(3) "Liability self-insurance group" is
defined in
KRS 304.48-020(7).
Section 2.
(1) Pursuant to
KRS 304.48-050, Form 995, Application for
Certificate of Filing As a Liability Self-Insurance Group, shall be completed
and submitted to the commissioner to apply for certification as a liability
self-insurance group.
(2) Pursuant
to
KRS 304.48-170(2), the Liability
Self-Insurance Group Quarterly Statement (Blank) shall be completed and
submitted to the commissioner to file a quarterly statement of financial
condition. Form 101, Trustee Confirmation of Receipt, shall be completed by
each trustee of the liability self-insurance group, acknowledging receipt of a
copy of the quarterly statement of financial condition, and submitted to the
Department of Insurance within seventy-five (75) calendar days after the close
of each quarterly reporting period.
(3) Pursuant to
KRS 304.48-170(1), the Liability
Self-Insurance Group Annual Statement (Blank) shall be completed and submitted
to the commissioner to file an annual statement of financial
condition.
Section 3.
Incorporation by Reference.
(1) The following
material is incorporated by reference:
(a)
"Form 995 - Application for Certificate of Filing As a Liability Self-Insurance
Group", 7/2020;
(b) "Liability
Self-Insurance Group Quarterly Statement (Blank)", 7/2020;
(c) "Form 101 - Trustee Confirmation of
Receipt", 7/2020; and
(d)
"Liability Self-Insurance Group Annual Statement (Blank)", 7/2020.
(2) This material may be
inspected, copied, or obtained, subject to applicable copyright law, at the
Kentucky Department of Insurance, Mayo-Underwood Building, 500 Mero Street,
Frankfort, Kentucky 40601, Monday through Friday, 8 a.m. to 4:30 p.m.
