Ky. Rev. Stat. § 304.99-055
Current through Acts Received April 24, 2024
Any insurer failing, without just cause, to timely file the ORSA Summary Report as required by KRS 304.3-620 shall be required, after notice and hearing, to pay a penalty of one hundred dollars ($100) for each day's delay. The maximum penalty under this section is one thousand dollars ($1,000). The commissioner may reduce the penalty if the insurer demonstrates to the commissioner that the imposition of the penalty would constitute a financial hardship to the insurer.
KRS 304.99-055