KRS 304.48-020: Definitions for subtitle.

(1) "Administrator" means an individual, partnership, corporation, association, or other

legal entity engaged by a liability self -insurance group's board of trustees to carry

out the policies established by the group's board of trustees and to provide day -to-

day management of the group.

(2) "Bona fide association" as used in KRS 304.48 -030 shall mean an association

which has a substantial noninsurance purpose or has other characteristics of stability

in finances and membership.

(3) "Commissioner" means the commissioner of the Department of Insurance.

(4) "Deceptive" means an act, practice, or statement which has the tendency or capacity

to deceive, without regard to whether there is an intent to deceive or whether any

person has suffered loss or injury as a result of the act, practice, or statement.

(5) "Governmental entity" means the Commonwealth of Kentucky, other states, or the

United States, their political subdivisions, municipal corporations, or public

agencies.

(6) "Insolvent" or "insolvency" means the inability of a liability self-insurance group to

pay its outstanding lawful obligations as they mature in the regular course of

business, as may be shown either by an excess of its required reserves and other

liability over its assets or by its not having suf ficient assets to reinsure all of its

outstanding liabilities after paying all accrued claims owed by it.

(7) "Liability self-insurance group" means a group described in KRS 304.48-030.

(8) "Person" includes, but is not limited to, any individual, partners hip, association,

trust, or corporation.

(9) "Qualified actuary" means a member of the American Academy of Actuaries or a

fellow of the Casualty Actuarial Society.

(10) "Service company" means a person or entity which provides services not provided

by the administrator, including, but not limited to, claims adjustment, safety

engineering, compilation of statistics in preparation of contribution and

assessments, loss, and tax reports, preparation of other required self -insurance

reports, development of membe rs' contributions, assessments, and fees, and

administration of a claim fund.

(11) "Unfair" refers to an act, practice, or statement which is unconscionable.

(12) "Agent" means any person directly or indirectly associated with such organization

who engages in solicitation or enrollment of persons for profit or pecuniary gain in a

liability self-insurance group.