Beshear, House Lawmakers Plan to Strengthen Insurance Law

Attorney General Andy Beshear and House lawmakers announced Thursday plans to strengthen a Kentucky insurance law and better protect Kentucky families across the Commonwealth. The legislation defends the Kentucky Unclaimed Life Insurance Benefits Act by enforcing an effective date and outlining action steps for insurers. The bill requires the Department of Insurance to set guidelines for life insurance companies on what constitutes a “good-faith effort” regarding contacting beneficiaries for life insurance benefits. Beshear said it is his duty to protect Kentucky families as the state’s chief consumer advocate, and his office “will continue to work with lawmakers to strengthen our consumer protection laws.”