AN ACT relating to insurance.

Amend KRS 304.3-705 to extend the insurance regulatory sandbox program until December 31, 2030; amend KRS 304.3-735 to extend the commissioner's reporting requirement.

Insurance Claims Securities Bankruptcy Banks and Financial Institutions

Introduced: January 9, 2025

Last action: March 24, 2025

(Acts Ch. 67)

Read the full text Kentucky Legislature LegiScan

AI-generated — always verify with primary sources

Plain-language summary

Beta

This bill extends Kentucky's insurance regulatory sandbox program, which allows insurance companies to test new or innovative products under relaxed rules, through the end of 2030. It also continues the requirement that the state insurance commissioner report on the program's progress. The extension gives insurers more time to develop and test new offerings while keeping oversight in place. Who it may affect: insurance companies operating in Kentucky and consumers who may encounter new insurance products developed through the program.

Open official bill text (PDF)·Report a problem with the summary