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Kentucky House approves framework for dissolving troubled self‑insured workers’ compensation pools
Summary
House Bill 265 passed after the sponsor said it would create a statutory dissolution process for self‑insured workers’ compensation pools and remove a Department of Insurance approval requirement for new pools to reduce future insolvency risks.
House Bill 265 passed the Kentucky House after floor explanation by the Gentleman from Edmondson, who said the bill responds to recent multimillion‑dollar insolvencies in self‑insured workers’ compensation pools. The measure would create a statutory dissolution process for self‑insured pools that choose to dissolve and would remove the requirement that the Kentucky Department of Insurance approve new self‑insured workers’ compensation pools, a change the sponsor said the Department requested to help avoid future insolvencies and regulatory complications.
The sponsor described past insolvencies, receivership proceedings, and expensive legal and court processes that followed and said the bill would provide a statutory framework to streamline dissolution. He moved passage; no further debate was recorded on the floor. The clerk reported the roll call and announced that House Bill 265 was passed.
The floor record did not include the bill’s full text, committee fiscal notes, or the specific statutory language that establishes the dissolution process; those details are not specified in the House floor record presented.
