Section 304.49-100 - Duties of captive insurer - Investment plan - Prohibited and permitted limitations on investments - Applicability of investment requirements and limitations of Subtitle 7(1) A captive insurer shall establish, monitor, and control its investment strategy prudently, setting clear guidelines with regard to the exposure to different investment types, levels of investment grade, and exposure to individual investments. This investment plan and any material amendments shall be filed with the commissioner.(2) A captive insurer shall not be subject to any restrictions on allowable investments in this chapter, including those limitations contained in Subtitle 7 of this chapter.(3) The commissioner may prohibit or limit any investment that threatens the solvency or liquidity of any company.(4) An industrial insured captive insurer insuring the risks of an industrial insured group defined in KRS 304.49-010(9)(b) shall comply with the investment requirements contained in Subtitle 7 of this chapter. Notwithstanding any other provision of this chapter, the commissioner may approve the use of alternative reliable methods of valuation and rating.Effective:7/15/2010
Amended 2010, Ky. Acts ch. 24, sec. 1613, effective7/15/2010; and ch. 91, sec. 6, effective7/15/2010. -- Amended 2006, Ky. Acts ch. 252, Pt. XXXIV, sec. 10, effective 4/25/2006. -- Created 2000, Ky. Acts ch. 434, sec. 10, effective 7/14/2000.