Insurance Licensing Update: Kentucky - Proof of Financial Responsibility Changes - Supportive Insurance Services

Effective July 12, 2012, agents, consultants, adjusters, apprentice adjusters, surplus lines brokers, life settlement brokers, and life settlement providers doing business in Kentucky will no longer be required to file proof of financial responsibility with the Kentucky Department of Insurance. All licensees must continue to maintain minimum levels of financial responsibility to protect the consumer.

Proof of Financial Responsibility records currently on file with the Department will be automatically updated to reflect the “Change in Kentucky Law” status. This will not impact the active status of the licensee’s professional liability coverage.

The insurance licensing information provided on this blog is not legal advice and the reader is advised to consult an attorney regarding application of this information in any particular situation.

This information is brought to you by Supportive Insurance Services… Licensing Experts Saving You Time and Money!

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“Deciding to oursource our licensing compliance to SIS was one of our best decisions we have made for our insurance agency. You have saved me and our growing team so much time and have improved our compliance. I would unconditionally recommend SIS to any growing insurance agency.”

Phil Nisbet, World Insurance Associates LLC

“I could not be happier with the decision we made so long ago. Everyone at SIS is so easy to do business with and they all possess that friendly, down to earth Indiana charm.”

Terri Young, VTC Insurance Group

“We have been using Supportive Insurance Services for over 4 years now and are very pleased with the entire team’s professionalism. With hundreds of agency and individual licenses to manage they are an invaluable business partner to us.”

Jonathan Hageman, Dubraski & Associates Insurance Services

“It’s a pleasure doing business with Supportive Insurance Services, reliable, efficient and friendly. For over 10 years they have taken care of our license needs, transitions and/or additions, as quickly and easily as possible. Their work ethics and constant positive attitudes are second to none.”

Lynn Cutforth, LIPCA Insurance

“Our company has worked with Supportive Insurance Services for several years and greatly value the support and services they provide us. Starting with our Team Leader Cindy Hawkins, they are extremely responsive, pro-active, professional and friendly. We are very happy with their overall service and support.”

John Losurdo - Officer, RHSB

“Every member of the SIS staff has 100% of the time been polite, happy to talk or email, and has gotten back to us very quickly if ever a VM or email. We could not be happier with our customer service we receive from Supportive Insurance Services. Top of the line, and well worth every penny!

David R. Smith , Sanger & Altgelt LLC

Insurance Licensing Update: Kentucky – Proof of Financial Responsibility Changes