KRS 304.13-041: Monitoring market competition.

(1) A competitive market for any line of insurance is presumed to exist unless the

commissioner, after a hearing, determines that a reasonable degree of competition

does not exist in the market for such line and issues an order to that effect. Such an

order shall expire no later than one (1) year after it is issued. In determining whether

a reasonable degree of competition exists, the commissioner shall consider all

relevant information pertaining to the market and the opportunities available to

consumers in the market to acquire pricing and other consumer information, and to

compare and obtain insurance from competing insurers.

(2) The commissioner shall monitor the degree of competition in this Commonwealth.

In doing so, the commissioner may utilize existing r elevant information or may

develop new relevant information. The activities may be conducted internally

within the Department of Insurance, in cooperation with other state insurance

departments, through outside contractors, or in any other appropriate mann er. The

relevant information in determining the competitiveness of a specific market may

include the number of insurers actively engaged in providing coverage, market

shares, and changes in market shares and ease of entry.