KY Insurance Bulletin 1998-06
New Premium Rates For The Mine Subsidence Program
BULLETIN 98-6
TO: All Property and Casualty Insurers in the State of Kentucky
FROM: George Nichols III
Commissioner of Insurance
DATE: June 11, 1998
RE: New Premium Rates for the Mine Subsidence Program
Sections 31 and 32 of House Bill 496, passed by the 1998 General Assembly, increase the limits of
coverage available for mine subsidence insurance from fifty thousand dollars ($50,000) to one hundred
thousand dollars ($100,000) per structure. Pursuant to KRS 304.44-020 (4), the Administrator has
established new premium rates which shall become effective July 14, 1998, for new business and
October 15, 1998, for renewal business. The new rates are set forth in this Bulletin and shall be charged
for the appropriate amount of coverage. Any questions should be addressed to the Division of State
Risk, (502) 564-6055.
COMMONWEALTH OF KENTUCKY
COAL MINE SUBSIDENCE RATES
REVISED RATES EFFECTIVE JULY 14, 1998
House Bill 496, Section 31 and 32
AMOUNT OF COAL MINE
SUBSIDENCE INSURANCE
ON THE STRUCTURE
PREMIUM
DWELLING
STRUCTURE
PREMIUM
NON-DWELLING
(1) STRUCTURE
up
to $15,000
$10.00
$18.00
15,001
to 20,000
$11.00
$19.00
20,001
to 25,000
$12.00
$20.00
25,001
to 30,000
$13.00
$21.00
30,001
to 35,000
$14.00
$22.00
35,001
to 40,000
$15.00
$23.00
40,001
to 45,000
$16.00
$24.00
45,001
to 50,000
$17.00
$25.00
50,001
to 55,000
$18.00
$26.00
55,001
to 60,000
$19.00
$27.00
60,001
to 65,000
$20.00
$28.00
65,001
to 70,000
$21.00
$29.00
70,001
to 75,000
$22.00
$30.00
75,001
to 80,000
$23.00
$31.00
80,001
to 85,000
$24.00
$32.00
85,001
to 90,000
$25.00
$33.00
90,001
to 95,000
$26.00
$34.00
95,001
to 100,000
$27.00
$35.00
NOTE:
(1)A non-dwelling structure is defined for rating purposes as a building that is
not principally used for residential purposes or house more than four family
units.
(2)$100,000 is the maximum amount of insurance reinsured by the Kentucky
Coal Mine Subsidence Fund.
FOR COMPANY USE ONLY - AMOUNTS ABOVE $100,000
(3)Dwellings - $5,000 increments above $100,000
$1.00
(4)Commercial - $5,000 increments above $100,000
$1.00
Effective 7/14/98 New Business; 10/15/98 Renewals