KRS 304.12-235: Time of payment of claims.

(1) All claims arising under the terms of any contract of insurance shall be paid to the

named insured person or health care provider not more than thirty (30) days from

the date upon which notice and proof of claim, in the substance and form required

by the terms of the policy, are furnished the insurer.

(2) If an insurer fails to make a good faith attempt to settle a claim within the time

prescribed in subsection (1) of this section, the value of the final settlement shall

bear interest at the rate of twelve percent (12%) per annum from and after the

expiration of the thirty (30) day period.

(3) If an insurer fails to settle a claim within the time prescribed in subsection (1) of

this section and the delay was without reasonable foundation, the insured person or

health care provider shall be entitled to be reimbursed for his reasonable attorney's

fees incurred. No part of the fee for representing the claimant in connection with

this claim shall be charged against benefits otherwise due the claimant.