KRS 304.14-430: Policy cover sheet -- Commissioner approval.

(1) All insurance policies subject to the provisions of KRS 304.14 -420 to 304.14 -450

shall contain as the first page or first page of text, if it is preceded by a title page or

pages, a cover sheet or sheets as provided in this section. The cover sheet or shee ts

shall be printed in legible type and readable language and shall contain at least the

following:

(a) A brief statement that the policy is a legal contract between the policy owner

and the company;

(b) The statement "READ YOUR POLICY CAREFULLY. This cove r sheet

provides only a brief outline of some of the important features of your policy.

This cover sheet is not the insurance contract and only the actual policy

provisions will control. The policy itself sets forth, in detail, the rights and

obligations o f both you and your insurance company. IT IS THEREFORE

IMPORTANT THAT YOU READ YOUR POLICY." and

(c) An index of the major provisions of the policy or contract and the pages on

which they are found which may include the following items:

1. The person or persons insured by the policy;

2. The applicable events, occurrences, conditions, losses, or damages

covered by the policy;

3. The limitations or conditions on the coverage of the policy;

4. Definitional sections of the policy;

5. Provision governing the procedure for filing a claim under the policy;

6. Provisions governing cancellation, renewal, or amendment of the policy

by either the insurer or the policyowner;

7. Any options under the policy; and

8. Provisions governing the insurer's duties and powers in the event that

suit is filed against the insured.

(2) The cover sheet may include, either as part of the index or as a separate section, a

brief summary of the extent and types of coverage in the policy.

(3) No cover sheet shall be used unless it has been filed with and approved by the

commissioner. The cover sheet shall be deemed approved sixty (60) days after filing

unless disapproved by the commissioner within the sixty (60) day period, subject to

a reasonable extension of times as the commissioner may require by notice given

within the sixty (60) day period. The commissioner shall disapprove any cover sheet

which does not meet the requirements of this section. Any disapproval shall be

delivered to the insurer in writing, stating the grounds therefor.