{"data":{"id":"us-ky/krs-56.160","jurisdiction":"us-ky","citation":"KRS 56.160","heading":"Reinsurance.","body":"(1) (a) On and after March 31, 2025, until June 30, 2030, the Office of the Controller\nin the cabinet may contract with any responsible insurance or reinsurance\ncompany authorized to do business in Kentucky to reinsure any subject of risk\nof which the total valuat ion has been fixed at over ten million dollars\n($10,000,000) in such a way as to limit the net liability of the\nCommonwealth's property and casualty insurance fund with respect to that\nrisk to ten million dollars ($10,000,000).\n(b) The premium for reinsura nce shall be paid out of the Commonwealth's\nproperty and casualty insurance fund, on warrant of the cabinet.\n(2) (a) On and after July 1, 2030, the Office of the Controller in the cabinet may\ncontract with any responsible insurance or reinsurance company a uthorized to\ndo business in Kentucky to reinsure any subject of risk of which the total\nvaluation has been fixed at over one million dollars ($1,000,000) in such a\nway as to limit the net liability of the Commonwealth's property and casualty\ninsurance fund with respect to that risk to one million dollars ($1,000,000).\n(b) The premium for reinsurance shall be paid out of the Commonwealth's\nproperty and casualty insurance fund, on warrant of the cabinet.","path":["KRS Chapter 56"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=56053","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:10Z","sha256":"e77671a05f256155fe8831509e0425b5a2721dd22fc1362213f04d1a9c2d93d5","source_id":"us-ky","stale":false,"prev":"us-ky/krs-56.150","next":"us-ky/krs-56.170"},"notice":"GroundRules: Original legal text. Not legal advice."}