KRS 304.39-330: Mandatory rate reduction.

(1) The rates for bodily injury liability in the amounts specified in KRS 304.39 -110

combined with the rates for uninsured motorists coverage in equal amounts and for

basic reparation benefits coverage shall be reduced by each insurer by not less than

ten percent (10%) as of the effective date of this subtitle from the rates in effect for

each such insurer immediately prior to such date for bodily injury liability in the

amounts specified in KRS 304.39 -110 combined with the rates for uninsured

motorists coverag e and the rates charged for one thousand dollars ($1,000) per

person medical expense coverage. Such reduced rates shall remain in effect for at

least one (1) year, and thereafter shall not be increased without the approval of the

commissioner after hearing. There shall be no exception to the requirements of this

section unless the commissioner shall find that the use of such reduced rates

required as to any insurer will result in rates which are inadequate under Chapter

304 of the Kentucky Revised Statutes.

(2) The provisions of subsection (1) shall not apply to any policy covering a motor

vehicle for which a person who would otherwise be a basic reparation insured has

rejected the limitations upon his or her tort rights and liabilities in accordance with

the provisions of KRS 304.39-060(4).