HB265
Log in to followAN ACT relating to regulatory authorizations by the commissioner of insurance.
Create a new section of KRS Chapter 299 to establish procedures and authorization by the commissioner of insurance for the voluntary dissolution of certain companies transacting the business of insurance upon the cooperative or assessment plan; amend KRS 304.50-010 to prohibit the commissioner from authorizing additional workers' compensation self-insured groups on and after the effective date of the Act; amend KRS 342.350 to conform.
Introduced: January 8, 2026
Last action: April 10, 2026
In effect since July 15, 2026
Acts from the 2026 Regular Session that don't carry an emergency clause or set their own effective date took effect 90 days after the session adjourned (Ky. Constitution § 55).
Plain-language summary
This bill sets up a formal process for certain cooperative or assessment-based insurance companies to voluntarily dissolve, requiring approval from the state's insurance commissioner. It also stops the insurance commissioner from approving any new workers' compensation self-insured groups going forward. Who it may affect: businesses and organizations that operate or participate in cooperative insurance plans or workers' compensation self-insured groups.
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Legislative History
Primary Sponsor
Co-sponsors (2)
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