HB179: AN ACT relating to insurance for loss of income and declaring an emergency.

Legislative Summary

Amends KRS 304.3-110 to authorize life and health insurers to transact disability income and paid family leave insurance, and to make technical corrections; creates new sections of Subtitle 5 of KRS Chapter 304 to define “disability income insurance” and “paid family leave insurance” and to specify how each is to be classified and filed; amends KRS 304.9-030 to include paid family leave insurance in life and health lines of authority; establishes Subtitle 53 of KRS Chapter 304 and creates new sections thereof to regulate paid family leave insurance, to establish paid family leave insurance requirements, authorized scope of benefits, disclosure requirements, and authorized limitations, and to authorize the insurance commissioner to promulgate administrative regulations to enforce Subtitle 53 of KRS Chapter 304; creates short title; and amends KRS 304.17A-005, 304.18-010, and 304.36-030 to conform; EMERGENCY.