SB29: AN ACT relating to property and casualty insurance and declaring an emergency.

Legislative Summary

Creates a new section of Subtitle 20 of KRS Chapter 304 to prohibit assignments under a property or casualty insurance policy; amends KRS 304.14-250 to conform; amends KRS 304.20-060 to insert definitions, to modify coverage required for the repair or replacement of damaged motor vehicle glass, and to prohibit requiring an insured’s use of a particular motor vehicle glass repair shop; amends KRS 304.39-320 to modify the credit that an underinsured motorist insurer is entitled to when providing underinsured motorist coverage; creates a new section of KRS Chapter 367 to regulate motor vehicle glass repair shop trade practices relating to motor vehicle insurance claims, to establish remedies for violation of the section, and to authorize enforcement of the section by the Attorney General; and provides that this Act applies to insurance policies issued or renewed on or after the effective date of the Act; EMERGENCY.