{"data":{"id":"us-ky/krs-227.625","jurisdiction":"us-ky","citation":"KRS 227.625","heading":"Liability insurance -- Prerequisite for license.","body":"(1) Before any license is issued or renewed, the applicant shall file or have on file\nwith the department a liability insurance policy issued by an insurance carrier\nauthorized to transact insurance business within the Commonwealth  of\nKentucky. The policy of insurance shall be issued in the name of the applicant\nlicensee.\n(2) The  department shall by administrative regulation establish the minimum\namount of liability insurance coverage required under this section.\n(3) An  insurance carrier issuing any policy filed with the department shall not be\nrelieved from liability under the policy until after the expiration of fifteen (15)\ndays' notice to the department of an intention to cancel the policy, provided,\nhowever, that a prior cancellation may be allowed in cases where one (1) policy\nis substituted for another policy when  the substituted policy is in force and\neffect prior to the expiration of fifteen (15) days' notice to the department of an\nintention to cancel the policy which is being substituted.\n(4) Upon  cancellation of any policy of insurance required by this section, all\noperating rights granted by the license for which the policy was filed shall\nimmediately cease, and the department shall have the authority to immediately\nrequire the cessation of all operations conducted under the authority of that\nlicense and to require the surrender of all licenses, certificates, and seals\npreviously issued hereunder.","path":["KRS Chapter 227"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=46974","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:52:44Z","sha256":"520de6969def2a035babc20df0f7bae0ebecede3196a9efcc4d78ff96655a172","source_id":"us-ky","stale":false,"prev":"us-ky/krs-227.620","next":"us-ky/krs-227.630"},"notice":"GroundRules: Original legal text. Not legal advice."}