Section 304.14-440 - Policies to be readable - Factors to be considered(1) All insurance policies subject to the provisions of KRS 304.14-420 to 304.14-450 shall be written in language easily readable and understandable by a person of average intelligence and education.(2) In determining whether a policy or contract is readable within the meaning of this section the commissioner shall consider, at least, the following factors: (a) The simplicity of the sentence structure and the shortness of the sentences used;(b) The extent to which commonly used and understood words are employed;(c) The extent to which legal terms are avoided;(d) The extent to which references to other sections or provisions of the contract are minimized;(e) The extent to which definitional provisions are incorporated in the text of the policy or contract; and(f) Any additional factors relevant to the readability or understandability of an insurance policy or contract which the commissioner may prescribe by regulation.Effective:7/15/2010
Amended 2010, Ky. Acts ch. 24, sec. 1158, effective7/15/2010. -- Created 1988 Ky. Acts ch. 225, sec. 14, effective 7/15/1988.