806 KAR 14:006. Property and casualty insurance form filings

      Section 1. Definitions. (1) "Executive director" is defined in KRS 304.1-050(1).

      (2) "Office" is defined in KRS 304.1-050(2).

 

      Section 2. (1) Every insurer, other than life or health insurers, required by law or licensed advisory organization or form provider permitted by law to file policy forms or endorsements, advertising and sales materials, or other documents other than those pertaining to rates shall file with these documents a completed and signed Form PC TD-1, "Property & Casualty Transmittal Document" using the appropriate guidance incorporated by reference in 806 KAR 13:150, Section 12(1)(f) through (nn).

      (2) If the filling is being made by a third party, a signed letter of authorization from the insurer shall be submitted.

 

      Section 3. (1) All paper filings shall include two (2) full sets of documents on 8 1/2 in x 11 in white paper, with three (3) copies of Form PC TD-1, Property & Casualty Transmittal Document" and a self-addressed stamped envelope.

      (2)(a) A property and casualty insurance company, advisory organization, or form provider may file a form in an electronic format established by the National Association of Insurance Commissioners.

      (b) An electronic filing shall be in lieu of a paper filing.

 

      Section 4. (1) A filing may include any number of documents, filed together on a particular date, pertaining to a single type of insurance from the "Uniform Property & Casualty Product Coding Matrix".

      (2) Forms shall be filed separately from rates and rules.

 

      Section 5. All form filings shall be accompanied by a Form PC FFS 1, "Form Filing Schedule"

 

      Section 6. (1) A policy or form shall not be used in Kentucky until it has been approved.

      (2) If the rates pertaining to a form are required by law to be filed or approved, the form shall not be used until the appropriate rates have been filed or approved as required in accordance with KRS 304.14-120 and 304.13-051.

 

      Section 7. (1) A property and casualty form filing may include forms for a particular insurance company or group of insurance companies.

      (2) If the filing is made for a group of insurance companies, Form PC TD-1, "Property & Casualty Transmittal Document" shall identify all companies included in the filing.

 

      Section 8. (1) Filing fees shall be paid on a per-company basis.

      (2) The period of time in which the executive director may approve or disapprove the filing shall not begin to run until both the complete filing and appropriate fee, in accordance with KRS 304.4-010 and 806 KAR 4:010, are received by the office.

 

      Section 9. (1) Insurers that are members, subscribers, or service purchasers of an advisory organization or form provider permitted by law to file policy forms or endorsements, advertising and sales materials, or other documents other than those pertaining to rates may choose to adopt all or some of the forms of that advisory organization or form provider.

      (2) If an insurer chooses to adopt only a specific filing of an advisory organization or form provider, it shall do so in accordance with the procedures set forth in this administrative regulation, and shall clearly identify which filing of the advisory organization or form provider it is adopting.

      (3)(a) (If) an insurer chooses to adopt all of the policy forms or endorsements, advertising and sales materials, or other documents other than those pertaining to rates of an advisory organization or form provider, it shall:

      1. Provide written authorization to the advisory organization or form provider to file those materials on the insurer’s behalf; or

      2. File written notice with the executive director that it is adopting by reference all the current and future policy forms or endorsements, advertising and sales materials, or other documents other than those pertaining to rates that the advisory organization or form provider files.

      (b)1. The advisory organization or form provider shall file the written notice of authorization referred to in paragraph (a)1 of this subsection with the executive director and shall pay the appropriate fee, in accordance with KRS 304.4-010 and 806 KAR 4:010.

      2. The fee shall be paid for each company sending the written authorization and on the basis of each line of insurance.

      (c)1. If an insurer that previously authorized an advisory organization or forms provider to file on its behalf as referred to in paragraph (a)1 of this subsection, or an insurer that filed written notice with the executive director to adopt by reference as referred to in paragraph (a)2 of this subsection chooses not to adopt certain policy forms or endorsements, advertising and sales materials, or other documents other than those pertaining to rates as filed by the advisory organization or form provider, the insurer shall file a notice of the nonadoption with the executive director and shall pay the appropriate filing fee, in accordance with KRS 304.4-010 and 806 KAR 4:010.

      2.a. If an insurer chooses to delay the effective date of its adoption of an advisory organization or forms provider filing, it shall submit a letter requesting the revised date upon which it shall adopt the filing.

      b. The delayed adoption date shall be within six (6) months of the original effective date.

      c. If additional time is needed, a second letter shall be submitted to the office, requesting a revised delayed adoption date.

      d. All revised delayed adoption dates shall be within one (1) year of the original effective date as filed by the advisory organization or forms provider.

      3. If an insurer does not adopt the advisory organization or forms provider filing within one (1) year of the original effective date as filed by the advisory organization or forms provider, the insurer shall submit a nonadoption filing.

 

      Section 10. If a filing includes a form which amends, replaces, or supplements a form which has been previously filed and not disapproved, it shall be accompanied by a letter of explanation from the filer setting forth the following:

      (1) All changes contained in the newly filed form;

      (2) The effect, if any, the changes have upon the hazards purported to be assumed by the policy; and

      (3) An explanation as to the effect on the applicable rates.

 

      Section 11. (1) Facsimile signatures of company officers, attorneys-in-fact, employees and representatives shall not be required and shall not be submitted with any filing.

      (2) A change of signature of the executing officer on a policy form shall not, because of this change alone, require a new filing.

 

      Section 12. Incorporation by Reference. (1) The following material is incorporated by reference:

      (a) "Uniform Property & Casualty Product Coding Matrix", (March 1, 2007);

      (b) Form PC TD-1, "Property & Causality Transmittal Document", (March 1, 2007); and

      (c) Form PC FFS-1, "Form Filing Schedule", (March 1, 2007).

      (2) This material may be inspected, copied, or obtained, subject to applicable copyright law, at the Office of Insurance, 215 West Main Street, Frankfort, Kentucky 40601, Monday through Friday, 8 a.m. to 4:30 p.m. This material is also available on the department’s internet Web site at: www.doi.state.ky.us. or the Web site of the National Association of Insurance Commissioners at www.naic.org. (27 Ky.R. 1404; Am. 1809; eff. 1-15-2001; 34 Ky.R. 1550; 2289; eff. 5-2-2008.)

Notation

      RELATES TO: KRS 304.1-050, 304.4-010, 304.14-120, 304.14-190, 304.21-010, 304.13-051, 304.22-020, 304.23-010

      STATUTORY AUTHORITY: KRS 304.2-110

      NECESSITY, FUNCTION, AND CONFORMITY: KRS 304.2-110 authorizes the executive director to promulgate reasonable administrative regulations necessary for or as an aid to the effectuation of any provision of the Kentucky Insurance Code as defined in KRS 304.1-010. This administrative regulation provides form filing procedures for property, casualty, surety, title, and mortgage guaranty insurance.