{"data":{"id":"us-ky/krs-342.342","jurisdiction":"us-ky","citation":"KRS 342.342","heading":"Annual review of individual self -insurance administrative regulations --","body":"Annual report on financial soundness of self -insurers and self -insurance\ngroups -- Division of Security and Compliance expansion.\n(1) Notwithstanding the provisions of K RS 342.340, KRS 342.350, or any\nadministrative regulations promulgated pursuant to those provisions, the\ncommissioner shall annually review the adequacy of the financial or other security\nrequirements contained in administrative regulations, promulgated pu rsuant to the\nindividual self-insurance provisions in this chapter. The commissioner shall report\nthe results of the review to the Economic Development and Workforce Investment\nCommittee of the General Assembly and any recommendations for proposed\nchanges to insure the financial soundness of the individual self -insurers authorized\npursuant to this chapter. In addition, the commissioner shall report not less often\nthan annually a summary report on the financial soundness of the individual self -\ninsurers.\n(2) The Economic Development and Workforce Investment Committee of the General\nAssembly shall annually review the administrative regulations promulgated\npursuant to the individual provisions under this chapter.\n(3) On July 1, 1994, the Division of Security and  Compliance of the Department of\nWorkers' Claims shall be expanded by five (5) employees. These additional\nemployees shall be employed for the purpose of conducting financial audits,\nexaminations, and reviews and other activities necessary to ensure and mo nitor the\nfinancial soundness of the individual self -insured employers authorized pursuant to\nKRS 342.340.","path":["KRS Chapter 342"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=56777","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:31Z","sha256":"3688a5ac52a9f4883a38c08151055a6d303d6b57e7fda784f3e45fb1ac562ed1","source_id":"us-ky","stale":false,"prev":"us-ky/krs-342.340","next":"us-ky/krs-342.345"},"notice":"GroundRules: Original legal text. Not legal advice."}