KRS 304.50-120: Aggregate excess insurance -- Standards for waiver and exemption --

Administrative regulations -- Eligibility to write excess liability coverage for

group.

(1) The commissioner shall promulgate administrative regulations setting forth the

requirements for aggregate excess insurance and the standards for granting a waiver,

but a workers' compensation self -insured group shall not be required to purchase

aggregate excess insurance if the group's fund balance is thirty percent (30%) or

more of earned premiums.

(2) Except for a worker's compensation self -insured group granted a waiver or

exempted under subsection (1) of this section, the trustees shall purchase aggregate

excess insurance.

(3) The trustees shall purchase specific excess insurance coverage with a limit of at

least twenty-five million dollars ($25,000,000) per occurrence.

(4) To be eligible to write excess liability coverage for a self -insured group, a casualty

insurance company shall at all times maintain twenty -five million dollars

($25,000,000) of minimum policyholder surplus.