304.14-440 Policies to be readable -- Factors to be considered. (1) All insurance policies subject to the provisions of KRS 304.14-420 to 304.14-450 shall be written in language easily readable and understandable by a person of average intelligence and education. (2) In determining whether a policy or contract is readable within the meaning of this section the commissioner shall consider, at least, the following factors: (a) The simplicity of the sentence structure and the shortness of the sentences used; (b) The extent to which commonly used and understood words are employed; (c) The extent to which legal terms are avoided; (d) The extent to which references to other sections or provisions of the contract are minimized; (e) The extent to which definitional provisions are incorporated in the text of the policy or contract; and (f) Any additional factors relevant to the readability or understandability of an insurance policy or contract which the commissioner may prescribe by regulation. Effective: July 15, 2010 History: Amended 2010 Ky. Acts ch. 24, sec. 1158, effective July 15, 2010. -- Created 1988 Ky. Acts ch. 225, sec. 14, effective July 15, 1988.
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