304.20-330 Reasons for cancellation. After coverage has been in effect more than sixty (60) days or after the effective date of a renewal policy a notice of cancellation shall not be issued unless it is based on at least one (1) of the following reasons: (1) Nonpayment of premium; (2) Discovery of fraud or material misrepresentation made by or with the knowledge of the named insured in obtaining the policy, continuing the policy, or in presenting a claim under the policy; (3) Discovery of willful or reckless acts or omissions on the part of the named insured which increase any hazard insured against; (4) The occurrence of a change in the risk which substantially increases any hazard insured against after insurance coverage has been issued or renewed; (5) A violation of any local fire, health, safety, building, or construction regulation or ordinance with respect to any insured property or the occupancy thereof which substantially increases any hazard insured against; (6) The insurer is unable to reinsure the risk covered by the policy; or (7) A determination by the commissioner that the continuation of the policy would place the insurer in violation of the Kentucky insurance code or regulations of the commissioner. Effective: July 15, 2010 History: Amended 2010 Ky. Acts ch. 24, sec. 1313, effective July 15, 2010. -- Created 1986 Ky. Acts ch. 426, sec. 4, effective July 15, 1986.
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