Kentucky Revised Statutes
Ky. Rev. Stat. § 304.1-030 (2026)
"Insurance" defined
✓ current as of May 2026
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"Insurance" is a contract whereby one undertakes to pay or indemnify another as to loss from certain specified contingencies or perils called "risks," or to pay or grant a specified amount or determinable benefit or annuity in connection with ascertainable risk contingencies, or to act as surety. Effective: June 18, 1970 History: Created 1970 Ky. Acts ch. 301, subtit. 1, sec. 3, effective June 18, 1970.
Notes of Decisions
Cited in 12
cases (2 in the last 5 years), 1995–2022 · leading case: Commonwealth v. Reinhold, 325 S.W.3d 272 (Ky. 2010).
Commonwealth v. Reinhold, 325 S.W.3d 272 (Ky. 2010). “John Reinhold, American Evangelistic Association, The Christian Care Ministry, and their Medi-Share program provide a "contract for insurance" as defined by KRS 304.1-030. The second issue is whether Medi-Share, if determined to be a "contract for insurance" under KRS 304.”
Davidson v. Am. Freightways, Inc., 25 S.W.3d 94 (Ky. 2000). “The broad nature of the definition anticipates that even an individual who is not a licensed insurer might enter into "a contract whereby one undertakes to pay or indemnify another as to loss from certain specified contingencies or perils called `risks,'" KRS 304.1-030…”
Scott v. Louisville Bedding Co., 404 S.W.3d 870 (Ky. Ct. App. 2013). “’ ” Ky.Rev.Stat. § 304.1-030. Individual self-insurance means that an entity bears all of its own risks and purchases no insurance at all.”
Haney v. Yates, 40 S.W.3d 352 (Ky. 2000). “KRS 304.1-030; KRS 304.1-040; Davidson v.”
Buck Run Baptist Church, Inc. v. Cumberland Sur. Ins. Co., 983 S.W.2d 501 (Ky. 1998). “We are not persuaded by the argument of Buck Run that KRS 304.1-030 defines the word “insurance” as including a contract to act as a surety.”
Deans & Homer, Inc. v. Commonwealth, Pub. Prot. Cabinet, Kentucky Dep't of Ins., 451 S.W.3d 659 (Ky. Ct. App. 2014). “*664 Whether the policy at issue is insurance as defined by KRS 304.1-030 is question of law reviewed de novo.”
Cordes v. United Specialty Ins. Co. (W.D. Ky. 2022). “An entity is “engaged in the business of insurance,” the court held, when it enters “a contract whereby one undertakes to pay or indemnify another as to loss from certain specified contingencies or perils called ‘risks.”
Assoc Indust KY v. US Liab Ins Grp (6th Cir. 2008). “’” Ky. Rev. Stat. § 304.1-030. Individual self-insurance means that an entity bears all of its own risks and purchases no insurance at all.”
Commonwealth of Kentucky v. E. John Reinhold D/B/A Am. Evangelistic Ass'n (Ky. 2010). “The Circuit Court held a bench trial on October 25-26, 2006, and ruled that Medi-Share is not a "contract for insurance," as defined by KRS 304.1-030, because its programs do not shift the risk of incurring medical charges from its members to itself.”
Harold Merritt v. Catholic Health Initiatives, Inc. (Ky. 2020). “KRS 304.1-030 defines insurance as “a contract whereby one undertakes to pay or indemnify another as to loss from certain specified contingencies or perils called ‘risks,’ or to pay or grant a specified amount or determinable benefit or annuity in connection with ascertainable…”
Kenneth Alvin O'neil v. Dale Rae Hutchens Personally (Ky. Ct. App. 2021). “” KRS 304.1-030. Herein, we are concerned with the term “insurance contracts” as used in KRS 417.”
Albany Ins. Co. v. Stephens, 926 S.W.2d 460 (Ky. Ct. App. 1995). “” KRS 304.1-030. “Person” is defined as: [A]n individual, insurer, company, association, organization, Lloyd’s insurer, society, reciprocal insurer or inter-insurance exchange[s], partnership, syndicate, business trust or corporation, and every other related entity.”
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