HB 233
AN ACT relating to the prevention of harmful practices associated with property and casualty insurance.
In Plain Language
This bill gives people the right to cancel contracts for real estate goods or services within five business days if an insurance company says the coverage won't apply. It sets up notice requirements for these contracts and establishes penalties for unfair practices by insurance companies and contractors related to property and casualty insurance. The new rules apply to contracts made after the law takes effect.
Official summary
Amend KRS 367.620 to define terms; amend KRS 367.622 to establish right to cancel a real estate goods or services contract within five business days after an insurer's notice of noncoverage; amend KRS 367.624 to establish notice requirements for real estate goods or services contracts; amend KRS 367.626 to establish cancellation and other requirements for real estate goods or services contracts; amend KRS 367.627 and 367.628 to establish penalties and requirements relating to real estate goods or services trade practices associated with property and casualty insurance; provide that the Act applies to contracts entered on or after the effective date of the Act.
Sponsor
—
Cosponsors
None listed
Latest action
signed by Governor (Acts Ch. 15)
Mar 15, 2025
Official source
Action history
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