{"data":{"id":"us-ky/krs-304.17-383","jurisdiction":"us-ky","citation":"KRS 304.17-383","heading":"Procedure for approval of rate filing containing increase.","body":"(1) No filing under KRS 304.17 -380 that contains an increase in premium rates shall\nbecome effective until the commissioner has issued an order approving the filing.\nThe commissioner may hold a hearing within thirty (30) days after receiving a filing\nunder this subtitle containing a rate increase, and after the hearing shall issue a final\norder approving or disapproving the filing.\n(2) In approving or disapproving a filing under subsection (1) of this section, the\ncommissioner shall consider:\n(a) Whether the be nefits provided are reasonable in relation to the premium\ncharged;\n(b) Previous premium rates for the policies to which the filing applies; and\n(c) The effect of the increase on policyholders.\n(3) The commissioner shall notify the Attorney General in writing of the hearing and of\nthe premium increase to be considered. The Attorney General shall be considered a\nparty to the hearing if he or she chooses to participate.\n(4) No insurer receiving the commissioner's approval of a filing under this section shall\nsubmit a new filing containing a rate increase for any of the same policies until at\nleast six (6) months have elapsed following the effective date of the approved\nincrease.\n(5) At any time, the commissioner, after an administrative hearing may withdraw\napproval of rates previously approved under this section if he or she determines that\nthe benefits are no longer reasonable in relation to the premium charged.\nAdministrative hearings conducted under authority of this section shall be\nconducted in accordance with KRS Chapter 13B.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=17340","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:45Z","sha256":"eca46f7f5a1b1dce402d38d1f02afc913a98fd0fc4d9b73beaa3bbd44208245e","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.17-380","next":"us-ky/krs-304.17-390"},"notice":"GroundRules: Original legal text. Not legal advice."}