{"data":{"id":"us-ky/krs-304.33-350","jurisdiction":"us-ky","citation":"KRS 304.33-350","heading":"Reinsurer's liability.","body":"The amount recoverable by the liquidator from a reinsurer shall not be reduced as a result\nof delinquency proceedings unless the reinsurance contract provides, in substance, that in\nthe event of the insolvency of the ceding insurer the reinsurance shall be  payable under a\ncontract reinsured by the assuming insurer on the basis of reported claims allowed by the\nliquidation court, without diminution because of the insolvency of the ceding insurer.\nSuch payments shall be made directly to the ceding insurer or to its domiciliary\nliquidator, except:\n(1) Where the contract or other written agreement specifically provides another payee\nof such reinsurance in the event of the insolvency of the ceding insurer; or\n(2) Where the assuming insurer, with the consent of th e direct insured, has assumed\nsuch policy obligations of the ceding insurer as direct obligations of the assuming\ninsurer to the payees under such policies and in substitution for the obligations of\nthe ceding insurer to such payees.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=29854","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:55Z","sha256":"a5673cba96422c24c0c5b3f6f5627c7182c88b9a436b3fbf00c0076b1bfcb5c4","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.33-340","next":"us-ky/krs-304.33-360"},"notice":"GroundRules: Original legal text. Not legal advice."}