342.267 Unfair claims settlement practices -- Penalties. If an insurance carrier, self -insured group, or self -insured employer providing workers' compensation coverage engages in claims settlement practices in violation of this chapter, or the provisions of KRS 304.12 -230, the commissioner of the Department of W orkers' Claims shall fine the insurance company, self -insured group, or self -insured employer the sum of one thousand dollars ($1,000) to five thousand dollars ($5,000) for each violation and if they have a pattern of violations, the commissioner may revok e the certificate of self-insurance or request the commissioner of insurance to revoke the certificate of authority of the insurance carrier or the self -insured group. Effective: July 15, 2010 History: Amended 2010 Ky. Acts ch. 24, sec. 1809, effective Jul y 15, 2010. -- Amended 2005 Ky. Acts ch. 7, sec. 40, effective March 1, 2005. -- Created 1996 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 80, effective December 12, 1996.
Kentucky Legal Code