Kentucky HB 505: AN ACT related to motor vehicle insurance. Amend KRS 304.39-320 to provide that every insurer shall provide underinsured motorist coverage in the insurance policy or supplement; provide that the insured may reject underinsured motorist coverage in writing; provide that if a named insured rejected underinsured coverage, the insurer is not required to provide coverage supplemental to a reinstatement, substitute, replacement, or amended policy issued to the same named insured by the same insurer or its affiliates unless a named insured requests the coverage in writing; require the Department of Insurance to establish a form for the rejection of coverage; amend KRS 304.39-040 to provide that every insurer writing liability insurance coverage for motorcycles shall provide coverage for basic reparation benefits, uninsured motorist coverage, underinsured motorist coverage, and added reparation benefits; allow a named insured to reject such coverage in writing; provide that if a named insured rejected basic reparations benefits, uninsured motorists coverage, and underinsured coverage, the insurer is not required to provide coverage supplemental to a reinstatement, substitute, replacement, or amended policy issued to the same named insured by the same insurer or its affiliates, unless a named insured requests the coverage in writing; require the Department of Insurance to establish a form for the rejection of coverage.

Status: To Banking & Insurance (H) (as of 2018-02-28)

State: Kentucky · Session: 2018RS · Bill: HB 505

Sponsors: A. Hatton

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