KRS 304.13-340: Phase -out of Workers' Compensation Insurance Plan -- Transfer of

insureds to Employers' Mutual Insurance Authority.

The Workers' Compensation Insurance Plan (KWCIP), a workers' compensation residual

market mechanism, in existence by virtue of this subtitle, shall not write new policies or

renew policies after September 1, 1995. The board of directors of the Employers' Mutual

Insurance Authority, the commissioner of the Department of Workers' Claims, and the

commissioner of the Department of Insurance shall develop a plan, which shall be

reviewed by the Economic Development and Workforce Investment Committee and the

Banking and Insurance Committee of the General Assembly, for the orderly and equitable

phase-out of the KWCIP. All claims on wor kers' compensation assigned risk policies in

effect or issued prior to September 1, 1995, shall be paid by the KWCIP. The plan

developed shall include procedures for application and transfer of the insureds in the

KWCIP to the authority, who shall be subje ct to the qualifications and conditions of

coverage required in KRS 342.801 to 342.843 and this section. The authority shall not be

liable for any liabilities or deficits incurred on assigned risk policies in effect or issued

prior to September 1, 1995.