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A
A
We
have
a
quorum
already
conduct
business
I'll
start
off
by
making
a
motion
for
the
getting
a
motion
for
the
approval
of
September
20th
got
a
motion.
Do
I
have
a
second
all,
those
in
favor
signify
by
saying
aye
any
opposed
the
minutes
are
approved.
Thank
you.
Well,
another
busy
agenda
for
us,
and
so
we
don't
have
a
lot
of
meetings.
Representative,
Roland
and
I
agree
upon
that.
So
when
we
do
have
them,
we
make
our
time
count.
A
So
I'll
get
started
now
with
our
first
presenter,
with
the
Department
of
Financial
Institute
institutions
update
commissioner
Burris
I,
believe
you
can
fill
us
in
on
everything
going
on
commissioner,
or
a
on
your
official
title
for
now
or.
D
Whatever
I
will
correct
you,
there
I'm
Deputy
Commissioner.
D
Well,
thank
you,
chairman
Carpenter
and
chairman
Roland,
for
the
opportunity
to
speak
on
behalf
of
the
DFI
chairman
Roland
as
I.
Think
this
is
your
last
BNI
interim
I
just
want
to
say
thank
you
for
all
you've
done
for
the
Commonwealth
and
what
you've
done
for
the
department
and
your
willingness
to
work
with
us
over
the
years.
So
thank
you.
I
will
try
to
be
brief
today
and,
if
I've
learned
anything
from
law
school.
If
you're
first
stick
to
the
facts
and
you
leave
all
the
hard
questions
to
people
who
follow
you.
D
So
sorry,
commissioner,
Clark
I'm,
going
to
give
an
update
on
each
division
today
and
go
oh
sorry,
thought
about
that
I'm
going
to
give
an
update
on
each
division,
go
over
a
case
study
from
one
of
the
actions
we
took
as
a
department
on
the
security
side
and
finally
I'm
going
to
end
with
I
guess
going
over
a
potential
reorg
of
the
department.
D
First
things
first
I
know
that
obviously
people
aren't
they
weren't
used
to
seeing
me
out
here.
I
do
want
to
say
that
you
know
the
commissioner
has
left
the
department
he's
been
on
the
commissioner
for
14
years
and
no
offense
to
Ballard
I.
Don't
think
I
saw
him
out
there,
but
I
think
Charles
will
probably
go
down
as
the
best
commissioner
that
we've
had
at
the
department,
so
I
think
he's
probably
watching
today,
because
he
probably
can't
help
himself
so
I
just
want
to
say
to
him.
D
Thank
you
that
you
know
for
all
that
you've
done
for
the
Department,
the
Commonwealth
and
for
me
personally,
you
will
be
missed.
The
other
elephant
in
the
room
that
I
want
to
talk
about
today
is
the
overall
economy
and
the
its
effects
on
the
industries
that
we
regulate
as
a
department.
The
common
theme
that
will
affect
every
division,
update
that
we
give
today
is
going
to
be
sort
of
inflation
and
everything.
That's
driving
inflation
on
these
industries.
D
So
I
guess
the
first
chart
I
have
here
is
the
U.S
yield
curve
and
if
you
look
very
closely
I
know
it's
pretty
hard
to
see
the
two-year
and
20-year
yield
curve
is
inverted:
most
people
go
by
the
2
and
10
as
a
indicator
for
impending
recession.
If
I
had
an
updated
graph
here,
you
would
see
that
the
two
and
ten
year
treasury
yields
are
inverted,
probably
as
deep
as
it's
ever
been
I
guess
since
2000.
D
and
that's
an
indicator
as
chair,
Powell
would
say,
pain
is
on
the
way
and
that
sentiment
is
going
across
to
the
community's
bank
sentiment
index.
So
this
is
a
questionnaire
that
sent
out
each
quarter
to
Community
Bankers
Across,
the
Nation
and,
as
you
can
see,
Q2
of
2022
is
at
84
and
that
is
the
lowest
rank
ever
for
this
questionnaire.
So
if
you
look
at
the
graph,
100
is
just
sort
of
neutral
and
anything
positive.
There
is
a
positive
sentiment
and
then
anything
below
100
is
negative.
D
Let's
see
so
forgive
me
with
this
slide.
I.
Think
that
you
know
the
630
numbers
are
correct.
Anything
and
the
other
years
are
not.
Whoever
put
this
together
forgot
to
update
those.
So,
as
you
can
see,
we
have
101
State
chartered
banking
institutions
here
in
the
Commonwealth,
we've
lost
eight,
since
2022
or
2020
I
should
say
of
those
eights
three
merged
with
other
state
chartered
Banks
and
five
emerge
with
out
of
state
or
federally
chartered
banking
institution.
D
But
2022
marks
the
first
time
in
so
the
Department's
history
that
Banks
over
a
billion
dollars
exceed
the
number
of
banks
under
100
million.
All
that
being
said,
the
the
department
is
seeing
more
complex
and
bigger
institutions
that
we're
regulating.
If
you
look,
the
total
loan
volume
has
gone
down
from
2021
at
the
end
of
the
year,
but
we're
expecting
that
to
tick
back
up,
given
everything
that
we've
seen
as
far
as
the
the
quarter
end
reports.
D
Banks
with
adjustable
rate
loans
may
just
now
be
coming
off
the
floor
and
raising
rates
significantly.
So
that's
what
we're
seeing
here
in
this
tierward
leverage.
Capital
ratio
only
declined
by
four
basis
points,
but
we're
number
two
in
this
and
that's
being
driven
primarily
by
asset
growth,
outpacing
Capital
Growth,
and
we
go
to
credit
unions
here,
we'll
see
that
the
net
worth
ratio
only
three
credit
unions
actually
experience
a
decline
in
net
worth
from
last
year
or
the
end
of
2021.
D
But
you
can
see
that
we've
gone
down
to
number
three
from
number
one
in
that
category.
Just
given
the
size
of
the
institutions
that
we
have
in
the
credit
union
space
for
Kentucky,
it
just
brings
down
that
ratio.
Quite
significantly,
the
net
interest
margin
actually
increased
from
2.36
at
the
year
in
2021,
while
return
on
average
assets
declined
from
0.73
percent
a
decline
in
return
on
average
return
on
average
assets,
primarily
due
to
provisions
of
non-interest
expense
expenses
increasing.
D
So
as
we
transition
to
the
non-depository
division,
you
will
see
that
we've
we've
grown
in
our
numbers
of
money,
transmitters,
we've
declined
in
our
deferred
deposit
licensees
and
the
the
biggest
sort
of
increase
that
we've
seen
throughout
the
pandemic
and
into
2021
and
22
has
been
the
mlo
space
in
the
mortgage
industry.
We're
getting
indications
now
with
numbers
coming
in
that
the
mlo
licensees
for
next
year
is
going
to
be
cut
by
about
a
quarter
percent
or
a
quarter.
D
I
want
to
take
a
look
significantly
at
the
mortgage
industry,
because
I
think
that
that's
driving
a
lot
of
the
non-depository
space
for
us,
as
you
can
see,
interest
rates,
are
on
the
rise
like
I
mentioned
before,
chair
Powell
and
the
rest
of
the
Federal
Reserve
System
is
you
know,
pushing
up
interest
rates
to
get
a
hold
of
inflation
and,
as
you
can
see,
you
know,
the
average
fixed
rate
mortgage
for
the
United
States
has
gone
up
to
6.7
percent
and
that's
the
highest
since
2007,
and
it's
only
going
to
get
higher
from
here.
D
At
the
same
time,
we're
seeing
you
know
medium
home
prices
throughout
the
United
States
decline,
given
that
there's
so
much
uncertainty
in
the
market.
As
you
can
see
from
this
chart,
you
know
it's
gone
down
by
thirty
thousand
dollars
in
a
month
and
that's
concerning,
given
everything
that's
going
on
in
the
macroeconomic
environment,
I
guess
one
of
the
bright
spots
and
is
our
Securities
division.
D
We're
seeing
a
robust
growth
and
on
not
only
in
the
broker
dealer
space,
but
an
investment
advisor
space
as
well,
which
is
surprising
to
me
and
Advising
clients
before
I,
took
on
this
role.
I
would
have
thought
that
you
would
have
saw
a
shift
from
broker-dealer
space
to
the
investment
advisor
space,
but
that's
not
what
we're
seeing
we're
seeing
a
robust.
You
know
growth
in
this
space
altogether,
so
to
kind
of
close
us
out
here.
D
As
far
as
the
the
updates
go,
I
want
to
talk
about
the
Celsius
case
that
the
department
took
back
at
the
end
of
or
close
to
the
end
of
last
year.
So
if
you
don't
know
anything
about
Celsius
they're
in
the
cryptocurrency
space,
they
Market
themselves
as
a
bank,
but
they
tell
their
their
clients
unbank
yourself.
So
the
the
old
saying
it
walks
like
a
duck.
It
talks
like
a
duck,
but
it's
a
pig.
So
these
are
not
Banks,
they
don't
function
like
Banks.
They
don't
custody
assets
quite
like
Banks.
D
They
were
basically
telling
people
to
deposit
their
cryptocurrency
into
this
platform
and
they
would
pay
up
to
17
apy
paid
each
week
on
your
deposit.
These
deposits
met
the
definition
of
the
Howie
test,
which
means
that
they
were
Securities
under
Kentucky
and
federal
law.
So
being
a
security
you
either
have
to
get
registered
or
you
have
to
find
an
exemption
from
registration
and
they
didn't
either.
So
we
took
action
against
them
in
September
of
last
year.
D
At
that
time
they
had
over
18
million
dollars
worth
of
Kentucky
deposits
on
platform,
and
that
would
account
for
over
1600
different
accounts
for
kentuckians.
We
took
an
action
like
I,
said
in
September
of
last
year
and
it
filed
I,
guess:
Celsius
filed
bankruptcy
in
July,
but
before
July,
I
guess
in
either
the
end
of
May
or
the
beginning
of
June.
D
They
froze
all
customer
accounts,
and
so
you
were
not
able
to
deposit
or
withdraw
your
funds
for
at
that
time,
because
we
took
such
quick
action
at
the
time
that
Celsius
went
into
bankruptcy
in
July,
there
was
a
little
roughly
less
than
three
million
dollars
of
Kentucky
faster
funds
in
that
platform.
So
I
know
it
on
a
you
know,
a
day-to-day
basis.
D
D
You
know
show
you
all
what
we
do
on
a
day-to-day
basis
and
tell
you
that
you
know
we're
working
as
hard
as
we
can
to
make
sure
that
everyone's
in
compliance,
so
to
close
you
out,
I
guess
the
department
is
going
or
wanting
to
go
through
a
reorganization
next
legislative
session
and
basically,
what
that
means
for
us
is
we're
wanting
to
rename
the
non-depository
division
a
different
name.
And
then
we
want
to
set
up
a
different
division
that
focused
solely
on
I.T
and
cyber
security.
D
A
Would
Deputy
Commissioner,
we
appreciate
you
being
here
and
I
I
do
want
to
say
something
about
Charles
Charles
I've
been
here.
This
is
my
12th
session.
This
past
one
was
and
so
I've
had
experience
an
opportunity
to
work
with
him.
He's
done
an
outstanding
job,
but
I
think
the
department
will
definitely
miss
his
leadership
but
I'm
sure
they'll
find
able
hands,
and
we
appreciate
your
your
work
today,
but
I
just
want
to
say
that
Charles
has
always
been
an
asset
for
the
legislative
body
to
work
with
and
I
know.
A
The
financial
institutions
across
the
state
will
miss
him
and
appreciate
his
service
and
his
dedication
to
the
Commonwealth.
So
I
did
want
to
say
that
for
Charles
are
there
any
other
questions
been
being
a
former
Banker
senator
thank.
E
You
Mr
chairman
on.
F
Dollars
the
number
decreasing
is
that,
because
of
additional
regulatory
demands
on
small
Banks,
with
cyber
security
and
every
in
additional
rig
or
resistance
to
convergence,
Divergence
cycle.
D
One
so
I
guess
you're
talking
about
the
reduction
in
state,
Charters,
yeah
I.
Think
it's
a
number
of
factors.
You
know
you
can't
probably
discount
the
regulation,
part
of
it
but
I
think
it's
a
succession
as
well
a
lot
of
people
wanting
to
to
do
with
other
things
than
you
know,
stay
at
their
bank,
and
we
have.
D
You
know
a
lot
of
banks
with
a
lot
of
capital
at
the
time,
I
guess
throughout
2020
2021
and
they
were
looking
for
emerge
partners
and
so
with
that
extra
capital
in
hand,
they
were
able
to
do
that.
A
Thanks
Cinder
Hale,
as
a
bank
guy,
a
former
Banker
I,
should
say
you
know
a
lot
of
the
regulations
really
made
it
hard
on
our
community,
smaller
Banks,
and
it
just
kind
of
they
had
to
do
the
same
thing.
If
you
were
a
35
million
dollar
bank
has
a
billion
dollar
bank
had
to
do
so.
It
really
made
it
difficult
for
them
to
survive,
and
so
I
think
that's
what
we're
seeing
on
some
of
is.
You
know
with
all
the
deposits.
You
know
you
don't
make
a
lot
of
money.
A
I
always
said
everybody
in
the
banking
world
says
man,
I
have
a
lot
of
money
with
you
we're
making
a
lot
of
deposits.
I
was
like
you
know.
We
don't
make
a
lot
of
money
off
of
deposits,
I
hate
to
tell
you,
and
so
you
know,
I
think
that
banks
are
seeing
the
opportunity
to
to
kind
of
take
up
some
of
the
smaller
ones
and
folks
are
seeing
that
it's
not
maybe
the
greatest
time
to
have
a
small
Bank
in
any
state.
G
G
It
gets
tougher
and
tougher
on
those
smaller
banks
in
the
market
to
continue
to
perform
and
and
be
able
to
meet
those
regulatory
burdens.
What
I
wanted
to
ask
you
about,
though,
Deputy
Commissioner
your
chart
about
median
sales
prices
for
new
homes?
Our
new
house
is
sold.
That
is
a
national
chart.
Correct.
D
Think
that's
correct.
I
will
get
you
that
information
I,
don't
have
it
on
hand
right
now,
but
I,
don't
suspect
that
it's
thirty
thousand
dollars
in
a
month
I
but
I
will
commit
it
to
getting
that
information
when
I
get
it.
G
A
You
very
much
Revenue
Meredith,
I
I'll
agree
with
you
100
I'm,
in
the
building
business.
You
know
we
it.
The
market
is
starting
to
slow
and
you're,
seeing
it
change,
but
Kentucky
didn't
have
that
big
increase.
You
know
that
average
house
436
000,
is
probably
just
1100
square
foot
house
if
you
take
the
entire
Nation
across
the
board.
So
you
know
our
price
range.
You
have
a
1300
square
foot
house
and
our
this
Region's,
probably
240
or
50
000.
You
know
somewhere
in
that
range,
and
so
we
haven't
seen
that
huge
increase.
A
So
we
won't
see
that
dramatic
decrease,
but
the
market
is
going
to
shift
and
I
haven't
seen
rates
really
that
when
you
showed
that
6.7
I
really
haven't
talked
to
anybody,
that's
the
raid
on
a
30-year
fixed
rate
loan
has
climbed
that
much
yet.
But
we
are
seeing
that
they're
in
the
in
the
mid
to
Upper,
fives
and
I,
told
people
I
had
some
closings
and
people
locked
in
a
30-year
fixed
rate
mortgage
for
like
2.9
percent
I
was
like
man.
A
G
I
just
follow
up
to
that,
like
you
said,
I
checked
30-year
fixed
rates
right
before
I
left
the
bank
earlier
this
week
and
I
think
that
was
yesterday.
I
think
mid.
Fives
is
where
the
30-year
fixed
rate
was
that
we're
pricing
right
now
through
the
secondary
Market
programs
that
we
have
I,
think
the
the
chart
or
the
the
graph
that
you
had.
D
F
Thank
you,
Mr
chairman
I'd,
like
to
touch
on
your
crypto
comment,
I
believe.
Maybe
this
time
last
year
we
had
a
discussion
on
it
and
the
banks
came
in
and
were
talking.
They
had
no
interest
in
dealing
with
crypto
in
the
state.
Do
you
think
crypto
is
here
to
stay.
D
I,
do
the
technology
behind
cryptocurrency
the
blockchain
technology?
Is
it
you
know
revolutionary?
Really,
it's
going
to
cut
a
lot
of
things
out
in
the
plumbing
system
for
a
lot
of
payment
systems
and
probably
security
settlement
as
well.
It's
here
to
stay,
at
least
in
my
opinion,
it's
just
where
does
it
belong,
I
think
it's
the
question
that
Regulators,
not
only
you
know
us
as
the
DFI,
but
you
know,
Federal
Regulators
are
wondering
as
well.
F
Follow-Up
Mr
chairman,
so
with
swift,
being
the
largest
transfer
of
of
currency,
I,
guess
in
the
world,
blockchain
they're
now
looking
into
blockchain,
I,
think
they're,
they're
open-minded
with
blockchain,
and
so
my
I
guess
my
question
would
be
then:
where
is
the
state
at?
As
far
as
looking
into
since
you've
said
it's
here
to
stay,
you've
got
the
belief
it's
going
to
be
part
of
our
currency
or
it's
going
to
be
part
of
our
business
transactions,
which
I
have
some
familiarity
with
ripple
some
different
ones.
F
That's
probably
one
of
the
largest
in
overseas
transactions
and
in
wires,
but
is,
is
the
Department
open
now
for
looking
into
because
I
can
walk
into
a
convenience
store
in
Kentucky
and
they'll
have
a
Bitcoin
ATM.
So
where?
Where
does
the
state
stand?
Now
with
it
was
a
closed
mind
last
year?
Is
it
more
of
an
open
mind
now
to
start
looking
at
our
bank's
usage,
I.
D
I,
wouldn't
categorize
our
our
position
as
close
mind.
I,
think
that
you
know
we've
put
out
guidance
on
the
non-depository
side
as
far
as
money
transmission
goes,
you
know
tell
them
they
need
to
get
license
if
they're
doing
certain
activity
related
to
that
on
the
banking
side.
D
If
you
know
any
state
chartered
institution
that
wants
to
get
into
the
space
right
now
has
to
you
know,
approach
the
FDIC
to
get
into
the
space
and
from
what
I
know
that
has
been
a
non-starter
on
the
FDIC
kind
of
realm,
but
on
a
security
space,
as
I
mentioned
with
Celsius,
we've
actually
asked
them
to
come
in
and
get
registered,
so
I
think
that
we're
open.
We
want
to
create
a
you
know,
an
open
regulatory
environment
for
them,
but
we
also
want
to
put
us.
You
know
an
even
playing
field
across.
D
F
Well,
you'd
mentioned
the
highway
test
so
use
you
know
you've
gone
to
the
determination
of
what
the
SEC
looks
at
and
I'll
close
with
this
Mr
chairman
I
guess
what
is
probably
frustrating
on
the
state
side
too,
is
there's
no
Federal
Regulation.
So
if
you
don't
have
it
in
the
federal
side,
it's
kind
of
hard
started
on
State
Side.
That's
reason
I
wanted
to
see,
maybe
where
your
mindset
was
from
what
Kentucky
was
looking
to
do,
but
I
appreciate
your
comments
on
it.
Okay,.
D
Thank
you
and
I
can't
just
respond
to
that
real
quick,
so
the
Celsius
that
was
a
particular
product
that
they
were
offering.
That
was
deemed
to
be
a
security
I,
wouldn't
say
that
all
cryptocurrencies
are
securities,
it's
just
what
they
were
doing.
You
know
by
offering
deposits
and
trying
to
pay
raw,
you
know
a
yield,
or
you
know
a
percentage
interest
rate
on
that.
That
is
when
it
turned
into
security.
So
not
all
you
know
we
we
at
the
state
don't
deem
all
them
securities.
A
Well,
we
appreciate
the
your
testimony
day,
Deputy
Commissioner
and
always
look
forward
to
more
of
those
in
the
future.
Thanks,
sir
I
think
our
next
guest
up
is
Department
of
Insurance
updates,
Ms
Sharon
Clark.
H
Anyway,
it's
nice
to
have
this
opportunity
to
be
with
you
all
today
and
to
report
not
only
on
the
department
but
on
the
insurance
Marketplace
in
Kentucky
and
I
can
assure
you
that
that
Marketplace
is
very
strong.
Since
my
return
as
commissioner
in
January
2020,
the
department
has
issued
202
news
certificates
of
authority
to
do
business
in
the
Commonwealth,
and
that
is
quite
a
bit.
It
is
impressive.
There's
18
different
categories
for
these
new
companies,
ranging
from
risk
retention
groups
to
the
traditional
and
companies.
H
The
many
of
these
new
emissions
have
been
what
we
call
ensure
Tech,
you've
heard
Financial
Tech.
Now
we've
got
insurance
Tech
and
it
can
best
be
described
as
the
Innovative
use
of
Technology.
It's
altering
all
the
business
models,
the
competition
landscape,
it's
in
it's
going
across
all
the
channels,
distribution,
marketing,
product
design,
underwriting
claims
management
and
as
Regulators,
we
do
not
want
to
stay
in
the
stand
in
the
way
of
innovators,
but
we
also
want
to
work
to
make
sure
the
privacy
of
the
policyholders
is
protected.
H
The
department
thanks.
You
for
the
data
security
legislation
that
we
had
last
year
and
that
helps
us
with
this
effort
in
protecting
this
information
now
with
the
addition
of
new
companies.
Additionally,
there's
new
work,
so
it's
been
a
very
significant
workload
increase
on
the
department,
particularly
in
our
Property
and
Casualty
division,
because
all
of
these
new
insurance
companies
have
to
make
their
filings
what
they're
going
to
be
selling
their
product
filings
their
forms.
All
of
that
has
to
be
submitted
to
the
department
for
review,
so
that
was
Property
and
Casualty
division.
H
Let's
talk
about
health
insurance
rates.
For
next
year,
we've
approved
those
rates,
they're
posted
to
our
website
and
I
took
the
time
to
look
at
all
of
the
states
across
the
country
to
see
what
the
increases
were
going
to
be
because
we
all
know
health
insurance
does
not
decrease
and
on
a
national
level,
the
ranges
are
six
to
12
percent
in
Kentucky
our
four
carriers
in
this
market
of
individual
coverage.
The
increases
are
3.4
to
7.1.
H
So
when
you
compare
that
to
the
National
range
of
increases,
we're
in
good
shape
there
in
the
small
group
Market,
where
again
on
the
Lower
Side,
the
national
increases
range
from
4.48
to
9.1
and
in
Kentucky
we're
lower
than
that.
So
that
was
good
news.
Also,
some
additional
good
news
is
for
our
Kentucky
employers.
For
the
17th
year
in
a
row,
our
workers
compensation
rates
are
going
to
be
decreased
overall,
it's
a
decrease
of
6.8
percent
across
all
categories
that
includes
manufacturing
office,
clerical,
Contracting,
goods
and
services.
H
We
I'd
like
to
now
talk
about
our
licensees.
You
know
we
use
that
term
somewhat
interchangeably.
We
got
issues.
Certificates
of
Authority
for
companies,
licensees
are
the
people
like
adjusters
Brokers,
biotical
settlement
brokers.
H
When
I
returned
to
the
department
we
had
250
000
licensees
that
we
keep
track
of,
and
that's
quite
a
bit.
I
will
tell
you
that
that
number.
H
The
Coalition
against
insurance
fraud
indicates
that
fraud
costs
businesses
and
consumers
308.6
billion
with
a
b
a
year.
The
FBI
estimates
that
the
fraud
costs
increase
the
average
families
cost
of
insurance
by
four
to
seven
hundred
dollars
at
the
department.
We
have
a
insurance
fraud
investigations
division.
These
are
all
sworn
police
officers
and
with
the
administrative
support
we
receive
referrals
from
the
national
from
the
companies
they're
required
to
do
that.
We
sometimes
discover
referrals
just
from
consumer
complaints
we
get
and
as
we
delve
into
those
we
developed
the
cases
we
investigate
them.
H
H
H
One
of
the
unfortunate
things
when
catastrophes
hit
the
state.
We
know
that
insurance
fraud
Falls-
and
that
was
the
case
in
Western
Kentucky,
with
the
tornadoes
immediately
following
its
you
know,
storms
bring
out
the
worst
and
they're
bringing
out
the
best
in
people,
but
we
had
a
lot
of
issues
that
could
crept
up.
We
had
I
was
down
in
Western
Kentucky
the
week.
Afterwards
we
had
everything
from
individuals
coming
in,
and
loading
up
vehicles
on
flatbed
trailers
trying
to
get
out
of
town
with
them.
H
H
She
was
told
your
insurance
company
will
pay
for
it.
Those
issues
are
very
disturbing
and
we
are
now
involved
in
several
investigations
with
those
tree
services
and
have
we've
had
pulled
the
FBI
involved
with
it,
because
these
same
Tree
Service,
believe
it
or
not
has
committed
fraud
in
multiple
States.
H
H
D
H
I
talked
about
the
fraud
referrals
that
would
get
I
mentioned
some
come
from
consumer
complaints,
we
have
a
consumer
protection
Division
and
they
are
the
ones
that
answered
that
phone
asked.
You
know,
taking
complaints,
answering
questions,
they're,
also
the
division
that
goes
out
on
site
With
Disaster
Response.
H
H
As
I
mentioned,
we
went
out
on
site
after
the
tornadoes
in
Western
Kentucky,
as
we
always
do,
and
we
had
eight
teams
that
were
out
there
and
we
have
continued
to
make
visits
as
late
as
last
month,
we
were
down
there
again,
our
other
work
with
the
cons,
the
tornado's
efforts
is,
we
have
had
to
do
a
lot
of
data
research
in
order
to
try
to
get
some
of
the
tornado
assistance
funds.
You
know
the
premium
funds
and
whatever
to
those
individuals
and
the
good
news
on
the
tornado.
H
If
there
is
some
good
news,
there
were
12
443
insurance
claims
for
as
a
result
of
that
storm
that
we
know
of.
Thus
I
am
in
the
process
of
getting
year-end
information
for
you
all
of
those
12
443
claims.
We
only
received
44
complaints
against
insurance
companies.
What
does
that
tell
you?
The
insurance
companies
I
am
proud
to
say
they
were
in
there.
They
were
doing
their
jobs.
They
were
in
there
as
soon
as
the
day
following
the
storms
providing
alternative
living
expenses.
The
insurance
agents
stepped
up.
H
I
met
many
agents
down
there
whose
own
businesses
were
destroyed.
They
were
setting
up
satellite
stations
and,
addressing
you
know,
the
needs
of
the
community,
so
it
is.
It
was
a
difficult
issue,
but
I
the
promises
that
were
made
by
the
insurance
company
were
promises
that
were
kept
the
the
flooding
in
Eastern
Kentucky.
H
As
you
all
may
know,
the
national
flood
insurance
program
is
responsible
for
flooding
issues,
but
we
have
been
involved
with
all
of
the
comprehensive
claims
that
we're
involved
with
automobile
and
vehicle
coverage,
and
we
continue
to
be
Provide
support
to
them
and,
as
a
result
of
the
many
storms
that
we've
had
and
I
would
call
them
cat
storms
if
they're
catastrophe,
storms
the
tornadoes,
are
flooding
but
there's
also
a
term
in
the
industry.
It's
called
the
kit
storms,
it's
in
kitten,
storms
Kentucky,
has
had
a
tremendous
amount
of
kid
storms
as
well
storms.
H
You
might
not
hear
about
you,
know
the
hail
storms
that
come
through
that
might
hit
one
County,
but
we
are
seeing
a
rate
increases
being
filed,
and
that
is
totally
understandable
due
to
the
huge
amount
of
claims
that
have
been
paid
in
the
Commonwealth
this
past
year
now
I'd
like
to
give
you
an
update,
I
always
try
to
do
this
with
the
legislation.
You
all
pass
the
legislation
you
expect
us
to
do
our
job
and
I
want
to
give
you
an
update
on
what
we've
done
with
that.
H
As
you
all
know,
Senate
Bill
140,
with
the
step
therapy
on
the
drugs
that
Pro
protocol
was
passed.
The
department
is
amending
two
of
our
regulations
to
incorporate
the
changes
to
enforce
the
provisions
and
we
have
filed
those
regs
on
October
15th.
Additionally,
though,
the
department
has
had
to
contract
we
need.
We
do
not
have
that
pharmaceutical
clinical
pharmaceutical
expertise,
we
need
so
the
we
have
entered
into
a
memorandum
of
agreement
with
the
University
of
Kentucky
College
of
Pharmacy
to
have
clinical
pharmacists
available
to
help
us
with
any
technical
issues
that
we
have.
H
So
that
has
worked
out
quite
well
on
House
Bill
91,
the
military
spouse's
update
the
department
has
filed
the
amendments
to
our
regulation,
on
that.
That
includes
the
exemption
of
the
payment
of
Licensing
fees
so
again
we're
addressing
those
issues.
The
data
security
update.
We
I
mentioned
that
earlier.
That
was
our
legislation
to
try
to
draft
some
alerts
and
there's
some
consumer
protections
and
again
the
direct
the
administrative
regulation
has
been
drafted
also
on
the
healthcare
Trade
Practices
House
Bill
370,
that
addressed
the
dentist
reimbursements.
H
I
do
want
to
take
an
opportunity
to
say
that
the
department
we
greatly
appreciate
the
the
help
that
we've
received
from
this
committee.
We
appreciate
the
lrc
staff
in
your
office.
Work
and
I
would
be
remiss
if
I
did
not
give
a
special
thank
you
to
Chairman
Roland
for
the
help
that
he
has
been
to
the
Department.
So
with
that
Mr
chairman
I
am
available
for
any
questions.
C
Thank
you,
commissioner
Clark.
It's
always
good
to
have
you
here
and
I
want
to
reciprocate
that,
thanks
to
you
whether
it's
been
calling
you
about
legislation
here
or
just
simply
calling
you
about
issues
I've
got
going
back
on
and
in
my
Independent
Insurance
Agency
you've
always
been
extremely
helpful.
Just
a
question
regarding
the
fraud
since
I've
been
serving
on
this
committee
and
in
the
general
assembly.
C
We've
done
several
things
legislatively
to
curb
fraud
here
in
Kentucky,
whether
it's
around
roofing
issues
and
Storm,
Chasers
or
immunity
by
reporting
to
the
National
information
crime,
Bureau,
Towing,
legislation,
I
guess
what
else
does
the
department
think
that
we
can
do?
Or
is
it
simply
at
this
point
down
to
an
enforcement
and
prosecution
issue?.
H
That
enforcement
and
prosecution,
but
unfortunately,
is
probably
all
of
you
all
recognize.
Criminals
are
very
Innovative
type
people,
and
sometimes
you
know
when
you
plug
the
Horn
the
hole
on
one
end.
You
know
there's
another
way
that
they
get
around
it,
but
what
we're
seeing
is
a
lot
of
the
fraud
is
a
much
larger
scale.
Maybe
the
numbers
have
gone
down
but
and
I
use
that
tree
service.
For
example,
it
was
not
a
multiple
tree
services,
but
it
was
this
one
and
it
is
created.
B
Thanks
for
the
update
on
the
number
of
claims
in
Western,
Kentucky
I
represent
extreme
Eastern,
Kentucky
and
I
know
that
there
are
way
fewer
claims
from
Eastern
Kentucky
flooding,
because
no
one
had
flood
insurance,
as
we've
learned
so
I'm
wondering
if
you
have
a
total
number
of
claims
from
Eastern
Kentucky
and
whether
the
department
of
insurance
has
identified
anything
that
we
as
a
legislature
could
do
to
encourage
availability
and
affordability
of
flood
insurance
or
whether
that's
anything
that
that
you're
looking
at.
H
Well,
as
a
whole,
as
the
National
Association
of
insurance
Commissioners,
we
are
certainly
working
with
the
feds.
You
know
on
the
national
flood
insurance
program.
Unfortunately,
that
program
it
seems
like
every
year
has
to
be
at
the
last
minute.
You
know
refunded,
and
it's
not
just
here,
representative
Hatton,
you
know
it's
just
been
so
many
claims
with
I
hate
to
think
what
the
flood
insurance
claims
are
going
to
be.
Out
of.
H
You
know
Florida
with
Ian
that
just
hit
it
is
it's
interesting
to
know
that
I
think
that
a
lot
of
the
area
in
Eastern
Kentucky
that
was
hit
with
the
floods
was
not
even
considered
to
be
in
the
flood,
plain
Zone,
and
so,
even
if
there
had
been
issues,
maybe
affordability,
you
know
people
it
might
not
have
even
considered
you
know,
purchasing
I
do
not
have
the
total
number
of
claims
from
there
again
most
of
those
are
going
to
be.
You
know
on
vehicles,
it's
interesting,
most
insurance
companies.
H
You
have
up
to
a
year
to
submit
your
claim
and
that's
why
I
don't
even
have
you
know
final
claim
information
for
the
Western
Kentucky,
so
we
will
we'll
get
those
and
I'll
update
at
a
little
later
time.
What
can
be
done?
It's
it's
extremely
expensive
and
it's
out
of
the
reach
of
a
lot
of
people
and
it's
again
unless
you
have
usually,
if
you're
in
a
flood
plain
and
you
have
a
mortgage,
you're
required
to
have
it.
A
Yeah
I
think
that's
a
good
statement,
it's
if
you're
in
a
flood
plain,
and
you
have
a
mortgage
on
your
property
that
your
lender
is
going
to
require
it
to
be,
or
you
can't
close
your
loan
or
you
can't
close
on
the
property,
so
I
think
a
lot
of
the
folks
that
were
probably
if
they
were
in
a
flood
plain.
They
probably
just
didn't,
have
a
mortgage
on
their
property
at
that
time,
while
they
didn't
have
it
and
I
think
some.
So
many
of
my
friends
from
that
area.
A
A
lot
of
people
are
just
weren't
in
the
flood
Plains.
So
when
they
called
you
and
said
when
your
insurance
agent
said
well,
you
want
to
add
flood
insurance
you're
like
well.
Why
would
I
get
flood
insurance
we've
not
flooded
here
for
80
years?
Why
would
I
want
to
spend
that
thousand
dollars
a
year
to
do
it?
So
it's
one
of
those
one
of
those
deals.
It's
kind
of
hard
to
figure
out.
H
B
For
the
first
year
or
two
I
was
here,
I
was
called
pip
because
I
ran
two
or
three
pills
and
screened
and
hollered,
and
cried
and
told
why
we
had
fraud
in
Jefferson
County
and
it's
still
going
to
be
a
problem,
no
matter
what
the
hospital
Association
thinks
or
the
attorneys
thinks
it's
still
a
major
problem
in
Kentucky,
if
I'm
understanding
you
correctly
3.8
billion
dollars,
plus
our
consumers
having
to
spend
out
of
their
pocket
for
insurance
because
of
fraud
and
help,
if
I
understand
it
correctly,
Florida
tightened
their
pit
laws
and
all
the
Florida
people
that
were
looking
Money
for
Nothing,
moved
to
Jefferson
County
and
with
their
attorneys
and
some
of
the
Shady
chiropractors
and
I.
B
Think
that
if
you
look
at
all
the
things
going
on
with
it,
pip
is
one
of
your
major
concerns
or
major
issues.
That's
causing
us
to
pay
out
so
much
money.
You
know
we
give
ten
thousand
dollars
and
carload
of
people
at
six
and
they
got
it
staged
and
hit
it
in
the
rear,
and
you
got
six
people
going
the
chiropractor
at
sixty
thousand
dollars.
You
got
the
attorney
and
the
same
chiropractor's
office.
That's
got
six
bi
claims
bodily
injury
claims.
B
So
are
you
seeing
that
a
lot
of
the
fraud
in
Jefferson,
County
and
surrounding
areas
is
related
to
pill.
H
We
are
seeing
in
Jefferson,
County
is
by
far
we're
the
staged
automobile
accidents,
we're.
We
don't
see
that
in
the
rural
counties
and
we're
not
seeing
as
much
in
Fayette
and
it
it
is
a
significant
amount
and
it's
you
know
the
PIP,
that's
free
for
your
body
to
address.
You
know
if
there's
any
pip
changes
in
Kentucky,
but
that
is
an
Avenue
of
fraud
that
we.
B
See
yeah
well,
I
took
a
bloodbath
for
a
couple
years
over
it
and
I
had
to
have
a
blood
transfusion
and
I
may
have
got
some
maternity
blood
in
me.
I
don't
know,
but
the
thing
about
this,
our
consumers
are
paying
way
too
much
for
car
insurance
in
the
state
of
Kentucky.
B
If
you
go
anywhere
surrounding
us
and
as
these
big
eye
and
the
insurance
people
here
will
tell
you
the
other
states
that
surround
us,
their
insurance
is
probably
20
30
percent
cheaper
than
ours
and
there's
one
reason,
no
fault
in
the
state
of
Kentucky,
so
I
think
we
still
need
to
do
something
but
I.
Just
you
know
when
you
touch
on
that,
that's
kind
of
a
it's
kind
of
a
sore
spot
with
me,
because
I
think
we
we
should
have
been
passing
it
two
years
four
years
ago,
but
I
do.
B
Thank
you,
one
of
the
things
I'm
hearing
from
the
insurance
people.
You
know
if
you
Bill
somebody
over
25
percent,
you
got
to
give
them
75
days
notice
and
some
of
the
things
we're
getting
inflation.
That's
eight
ten
percent,
then
inflation
on
inflation.
B
On
top
of
that,
with
the
the
tornadoes
I'm
hearing,
that
rates
are
going
to
go
up,
20
25,
just
based
upon
Lumber
and
based
upon
the
things
that
it
costs
to
buy
and
and
when
you
start
going
up
that
much
you
know,
along
with
the
fraud
and
and
the
things
that's
going
on
here,
our
consumers
are
going
to
be
hit
drastically
with
this
inflation
cost
drastically
and
it's
going
to
be
a
pain
form
to
be
able
to
to
afford
car
insurance
and
home
insurance.
And
things
of
that
nature
are
you
seeing?
H
It's
a
little
background
sender
Kentucky
is
a
use
and
file
state
and
if
an
insurance
company
submits
rate
increases
that
total
over
25
percent
for
a
year,
the
department
goes
through
an
Actuarial
review
of
those
rates.
For
example,
we
have
had
one
company
that
filed
a
increase
earlier
this
year,
then
they
filed
a
second
increase
and
the
total
did
surpass
at
25.
So
I
sent
that
out.
My
actuaries,
who
have
worked
with
the
department
for
numerous
years,
have
a
good
knowledge
of
the
Kentucky
Marketplace.
H
What
have
you
recommended
to
me
that
I
did
not
approve
that
rate
increase,
and
that
is
the
position
that
we're
going
to
take
it
there.
They
do
justify
a
certain
amount,
but
I
think
the
justification
that
the
company
submit
it
was.
The
rate
increase
was
going
to
be
like
25.6
percent
cumulative
for
the
year
we're
going
to
come
back
and
I.
We
would
be
willing
to
approve
11
increase,
so
my
ability
is
when
it
hits
over.
H
That
25
is
when
I
can
get
in
and
what
I
call
Scrub
the
rates-
and
you
know,
make
some
disapprovals
in
at
that
time,
but
the
rates
are
going
to
increase
and
you
hit
the
nail
on
the
head.
The
inflationary
cost
as
well
with
Building
Supplies,
has
just
increased.
It
and
I
touched
upon
the
complaints
that
we
had
from
Western
Kentucky
with
the
tornadoes
and
many
of
those
were
people
who
had
purchased
what
we
call
actual
cash
value
on
their
homes
versus
replacement
value.
A
You
thanks
Senator
girdler
I've
got
a
song
in
mind,
I
wanted
to
say
to
you,
but
I'm
just
going
to
be
a
good
boy
and
be
quiet
and
say
appreciate
your
comments
and-
and
we
pip
is
an
issue
that
we
continue
to
address
and
we're
going
to
talk
about
in
future
I
think
future
sessions
to
come.
I
know
it's
been
a
tough
one
and
we
appreciate
your
work
on
it.
It
isn't
easy,
commissioner
Clark.
Would
you
have
any
other
questions
or
comments
for
you?
No.
H
I
just
want
to
make
the
offer
the
con
departments,
always
there
to
you,
know,
provide
assistance
if
you
all
have
legislative
proposals
that
you're
interested
in
or
or
you
want
some
additional
background
on
it.
You
know
we're
always
there
to
help.
So
please
reach
out
to
us
and
then
also,
please
know
that
we're
there
every
day
to
answer
any
of
your
constituents
questions
or
concern
or
provide
help.
However,
we
can
so
I.
Thank
you
all
for
the
opportunity
to
present
today.
A
Thank
you
very
much.
Our
next
discussion
is
about
insurance
issues
that
are
affecting
agents.
On
the
agent
perspective,
we
have
Tara
Purvis
with
the
president
CEO
of
big
eye
Kentucky
and
West
visit
senior
Council
for
the
government
Affairs
for
the
iaba,
so
appreciate
you
all
coming
to
introduce
yourselves
for
the
for
the
record
and
look
forward
to
your
testimony.
I
Thank
you.
Mr
chairman
members
of
the
committee
service
and
I
am
president
and
CEO
of
big
eye.
Kentucky
and
I
just
want
to
kind
of
go
over
a
little
bit
of
what
big
eye
Kentucky
is
really
quickly
before
turning
it
over
here
to
West
so
see.
If
I
can
do
this
big
guy
Kentucky
is
the
oldest
and
largest
Independent
Insurance
Agents
Association
in
the
state
we've
been
around
since
1896,
we
celebrated
125
years
last
year
and
as
we
are
doing
today,
we
also
had
a
dinner
last
night.
I
Thank
you
for
all
that
came
and
joined
us.
We
Advocate
on
behalf
of
independent
agents
here
in
Kentucky
and
in
Washington
DC,
so
other
things
that
we
do.
We
educate
our
members
and
we
also
bring
them
together
networking
and
with
their
colleagues
at
events,
and
then
we
also
do
management
tools,
different
things
for
their
small
businesses
and
we
help
with
90
plus
products
and
services
for
those
Independent
Insurance
Agents.
I
A
little
bit
about
us,
we
have
350
member
locations
representing
about
5
000
individuals
in
the
state
of
Kentucky.
We
cover
the
entire
state
from
Pikeville
to
Paducah.
We
have
a
mini
small
one-person
agencies,
but
we
also
have
agencies
that
are
as
large
as
100
individuals
and
84
percent
of
our
membership.
I
The
agencies
themselves
are
members,
and
so
they
have
less
than
10
employees
and
65
percent
have
less
than
five
employees,
and
you
can
tell
here
by
our
graphic
that
we
have
about
500
members
that
are
under
the
age
of
40
and
then
1500
members
over
the
age
of
60..
So
we
are
also
in
trying
to
recruit
Talent
into
the
insurance
industry
like
just
about
everybody
else.
I
So
we
have
14
board
members
all
over
the
Commonwealth
and
we
have
six
staff
members,
as
you
can
tell,
we
are
very
blessed
to
have
independent
insurance
agents
in
the
legislature.
I
You
can
see
here
that
most
of
these
are
Independent
Insurance
Agents.
We
love
all
insurance
agents
and
we
will
definitely
accept
Senator
girdler
into
that
mold.
But
we
have
a
couple
years
ago,
we
gathered
together
as
a
government
Affairs
committee,
and
we
got
these
guiding
principles
in
order
to
determine
what
we
come
to
the
table
for
what
we
fight
for
what
we
look
for
when
it
comes
to
legislation
and
protecting
agents
and
consumers
in
the
Commonwealth.
I
So
these
are
some
of
those
principles
that
we
have
determined
and
I
also
want
to
give
a
big
thanks.
Commissioner
Clark
did
as
well,
but
two
of
the
major
things
that
we
were
looking
for
last
session
were
accomplished.
Thanks
to
you,
the
department
of
insurance
and
for
all
of
the
consumers
in
Kentucky
we
did
the
data
security
model
and
the
rebating
reforms
in
2022..
I
I
Chairman
Roland
helped
us
get
an
apprenticeship
program
inside
of
the
Independent
Insurance
Agents
of
Kentucky,
and
so
we're
looking
to
help
employers
throughout
the
Commonwealth,
get
apprentices
in
the
High
School
area
and
try
to
grow
your
own
insurance
agent
or
your
customer
service
representative
inside
your
agency,
and
of
course
one
of
those
things
is
PIP
reform
as
well.
So
those
are
some
of
the
things
that
we
have
on.
Our
radar
are
I'm,
going
to
turn
it
over
now
to
Mr,
westbasit
and
I'll.
Have
you
introduce
yourself
thank.
J
You
Tara
thank
you
Mr
chairman
I'm,
Wes
Bissett
I
am
a
senior
Council
government
Affairs
for
the
Independent,
Insurance
Agents
and
Brokers
of
America.
It's
a
pleasure
to
be
with
you
and
an
honor
as
Tara
sort
of
alluded
to
we'd
normally
come
to
a
hearing
like
this
with
a
long
list
of
asks,
but
in
large
part
to
the
productive
and
effective
work
of
this
body
over
the
last
few
years.
We
really
don't
have
any
any
along
those
lines.
J
I
think
it's
a
tribute
to
you
attribute
to
the
work
that
commissioner
Clark
and
her
team
does
as
well,
so
without
a
list
of
sort
of
pressing
issues
along
those
lines.
What
we
thought
we
would
do
would
be
to
highlight
a
couple
of
topics
that
are
coming
up
at
the
National
Council
of
insurance
legislative
legislators.
These
may
be
issues
that
might
ultimately
come
to
Kentucky
in
the
near
future.
J
Representative
Fisher
has
been
an
officer
at
Ann,
Coyle,
chairman
Roland,
is
the
the
current
chairman
of
the
the
Property
and
Casualty
Insurance
committee
at
Encore
over
the
last
several
years
and
and
Carl's
certainly
going
to
miss
their
leadership
once
they
leave
the
legislature
and
I
know
some
of
the
folks
in
this
room
will
probably
be
stepping
into
leadership
roles
and
then
coil
in
in
the
future,
but
I
wanted
to
mention
two
bills:
two
proposals
that
encloil
will
be
taking
up
next
month
that
it's
at
its
annual
meeting
and
the
first
is
the
delivery.
J
Network
Company
Insurance
act-
and
this
is
proposal
introduced
and
sponsored
by
representative
Roman
Roland.
That
would
establish
insurance
requirements
for
delivery.
Network
companies-
and
you
may
remember
there-
were
you
know.
First,
we
had
Transportation
Network
companies.
This
is
you
know
Uber
and
Lyft,
and
now
we've
got
delivery.
Network
companies-
this
is
Grubhub
and
doordash
and
and
ubereats
and
and
that
sort
of
thing-
and
the
reality
is-
is
that
there's
a
without
some
without
action
by
legislative
bodies?
J
There's
going
to
be
a
coverage
Gap
that
exists,
because
the
typical
personal
Auto
policy
doesn't
provide
coverage
when
a
driver's
out
there
using
the
personal
vehicle
delivering
food
or
whatever
it
might
be
to
to
someone's
home
or
some
other
location.
So
the
core
element
of
Representative
Roland's
proposal
is
that
it
would
require
these
these
platforms,
these
dncs,
to
ensure
that
there's
coverage
in
place,
either
by
through
the
DNC
itself
or
through
the
driver
or
some
kind
of
combination
thereof.
J
And
then,
if
there
does
turn
out
to
be
a
gap,
it's
the
DNC,
that's
on
the
hook,
Freddy
claims
it
might
arise
as
a
result
of
the
the
driver
operating
while
the
app
is
on
or
delivering
something
along
those
lines.
So
it's
very
similar
to
what
happens
in
the
TNC
context,
but
it's
also
a
good
example.
This
proposal
of
how
the
state
regulatory
system
is
responsive
to
new
things
that
you
know
new
challenges
that
emerge
in
the
marketplace.
We
wouldn't
even
have
thought
about
a
doordash.
J
You
know
15
years
ago,
maybe,
but
it's
something
that's
new,
so
represent
representative.
We
appreciate
your
work
on
this
support.
The
proposal
you've
got
other
proposals,
I
know
at
the
at
the
end,
coil
meeting,
and
so
we
appreciate
your
work
on
this
in
this
sandbox
proposal
as
well.
Some
that
you've
already
passed
that
legislature
has
already
passed
here
in
Kentucky.
The
the
second
bill
I
want
to
talk
about
is
a
proposal.
Dan
Coyle's
Insurance
underwriting
transparency
act,
and
this
is
a
proposal.
J
That's
been
introduced
by
the
Indiana
House
Majority
Leader
Matt
Lehman
he's
the
most
recent
past
president
of
man
Coyle.
He
also
happens
to
be
an
independent
agent.
A
member
of
the
big
eye
in
his
proposal
is
a
response
to
the
nature
in
which
personal
lines
Insurance
underwriting
and
rating
has
become
increasingly
complex.
J
Companies
are
using
analytics,
invest
new
and
different
types
of
data
in
rating
models
that
again
that
are
much
more
complex
than
what
we've
seen
even
in
in
recent
years,
and
so
the
the
manner
in
which
rates
are
established
now
is
increasingly
complicated
in
some
ways,
as
a
result,
increasingly
opaque
to
the
typical
consumer
and
into
the
agent.
J
So
you
know:
race
are
often
generated
now
in
the
personal
Alliance
context,
by
running
a
person,
essentially
through
a
model,
and
sometimes
the
results
that
come
out
of
that
the
outputs
on
occasion
defies
sort
of
in
intuition
right.
It
used
to
be
that
that
rating
and
underwriting
was
somewhat
intuitive.
If
you
know,
if
you
had
a
lot
of,
you
had
a
lot
of
wrecks
in
the
recent
past
or
you
added
a
teen
year
policy,
you
could
expect
your
rates
to
go
up,
but
with
these
complex
and
opaque
algorithms,
you
sometimes
scratch
your
head
wondering.
J
Why
did
my
rate
just
increase?
20
percent
and
I
can't
get
a
good
answer
to
it.
You
know
a
lot
of
times
these
customers
will
come
to
the
agent
and
say
well
what
what
happened?
I,
you
know,
I
have
no
one.
You
know
no
appreciation
for
why
my
rate
jumped
like
that
and
agents.
Oftentimes,
don't
have
a
an
explanation
for
that
and
the
Agents
will
call
their
company
contacts
their
company
Underwriters
and
say:
why
did?
J
Why
did
my
client,
my
good
client's
rage,
just
increasing
that
way
in
a
particularized
way
above
the
Statewide
average
and
those
company
Underwriters?
Don't
really
have
a
good
explanation
and
they're
told
it's
just
the
the
black
box?
That's
what
the
blacks
box
says.
So
what
this
model
would
do
is
bring
a
little
bit
of
transparency
to
this
process.
J
It
would
allow
a
customer
that
has
been
non-renewed
or
that
receives
a
significant
increase
in
the
rate
at
renewal,
to
request
a
list
of
the
the
factors
that
were
most
heavily
weighted
in
that
decision,
and
there
are
lots
of
reasons
why
this
is
important.
It
allows
customers
to
have
a
basic
understanding
of
how
the
the
rates
were
set.
J
It
allows
them
if
there's
information
that
might
be
incorrect
or
inaccurates
potentially
clear,
that
up
and
to
basically
improve
their
outcomes
potentially,
and
also
to
kind
of
help,
restore
faith
and
trust
in
the
insurance
underwriting
and
rating
system,
because
when
you,
when
you
have
no
sense
for
why
a
rate
is
being
generated,
it
does
have
the
potential
effect
to
undermine
that.
J
I
also
say
this
is
not
a
new
or
novel
concept
about
20
25
years
ago
we
saw
something
of
a
revolution
in
the
insurance
underwriting
and
rating
process
when
companies
began
to
use
credit
histories
and
credit
information
to
set
rates.
So
what
happened
back
at
that
time
was
end.
Coil
adopted
a
model
that
that
just
dealt
with
that
issue,
a
very
comprehensive
model.
J
It's
been
adopted
universally
by
nearly
every
state,
and
one
of
the
provisions
in
that
act
says
that
if
you're
the
subject
of
an
adverse
action
you
can,
you
will
get
a
list
of
the
factors
that
resulted
in
that
from
your
insurance
carrier.
So,
while
we're
doing
all
the
representative
Layman
is
trying
to
do
with
this
proposal
is
to
keep
up
with
the
times
new
types
of
underwriting
and
information
are
being
used
now,
so
extending
what's
already
the
law
of
nearly
every
state
to
those
types
of
data.
J
This
is
also
commonplace,
and
you
know
this
Mr
chairman
may
be
better
than
anybody
in
the
lending
context
that,
if
there's
an
adverse
action
taking
in
connection
with
an
application
for
an
extension
of
credit
that
the
that
lenders
have
to
disclose
the
the
the
the
factors
that
most
heavily
weighed
in
that
decision.
So
I've
talked
about
this
in
sort
of
broad
terms.
I
will
say
some
of
the
final
details
are
still
being
worked
on.
J
J
The
approach
that's
being
taken
is
it
would
be
something
that
consumers
could
request
if
they've
had
a
rate
increase
like
this,
we
also
were
working
to
make
sure
that
the
penalties
for
non-compliance
aren't
unnecessarily
and
unduly
excessive
or
punitive,
and
we
also
want
to
make
sure
that
companies
in
any
state
where
this
might
be
adopted
have
enough
lead
up
time
to
make
sure
that
they
can
implement
the
changes
that
are
needed
so
to
the
legislators
that
are
going
going
to
the
next
end.
Coil
meeting
we'd
urge
you
to
support
this.
J
We,
even
if
you
would
have
no
intention
of
pursuing
something
like
this
in
Kentucky.
We
would
urge
you
to
support
it
and
part
of
the
reason.
Why
is
there
are
lots
of
other
states
that
are
starting
to
look
at
this
issue
in
much
more
prescriptive
and
broader
ways?
There's
a
regulation
proposed
in
Washington
state,
that's
very
prescriptive.
It
would
require
companies
to
disclose
every
factor
that
they
utilize
in
the
rate
making
process,
which
would
mean
dozens
of
factors
being
disclosed
to
Consumers.
J
It
would
really
be
overwhelming
the
neoc's
been
working
on
proposals
like
this,
and
we
know
that
there
are
individual
legislative
legislatures
that
are
starting
to
take
it
up
so
having
a
template,
even
though,
if
you
weren't
going
to
bring
this
back
to
Kentucky
would
be
incredibly
important,
and
we
would
urge
your
support
for
that
in
perhaps
after
we
see
its
adoption
in
other
states
in
the
coming
years.
After
the
benefit
of
that
experience,
it
may
be
something
that
you
want
to
contemplate
adoption
of
here
in
Kentucky
at
some
future
points.
J
A
C
So
Wes
is
a
good
friend
and
kind
of
the
issues
that
have
piqued
my
interest
over
the
last
few
years
have
been
the
Innovative
and
the
insurer
Tech
type
issues
the
stuff,
as
Wes
said
that
we
didn't
think,
or
even
you
know,
15
years
ago,
we
had
no
idea
that
these
will
be
issues
that
we
would
be
talking
about
and
whether
that's
delivering
Network
companies,
Transportation
Network
companies
or
the
sandbox
West,
has
always
been
willing
to
help
me
with
those
issues
and
and
help
us
work.
Those
out.
So
thank
you.
I
appreciate.
J
That
I,
as
I
said
before
I
think
it's
a
testament
to
the
state
regulatory
system.
You
know
someone,
there
was
a
mention
made
earlier
to
Federal
inaction
on
certain
issues
and
I
think
facts.
The
fact
that
legislature
is
like
yours
are
able
to
be
responsive
and
proactive
is
a
is
a
tribute
to
the
system
we
have.
So
thank
you
for
your
leadership
as
well.
A
A
Our
next
group
is
the
Insurance
Institute
of
Kentucky
legislative
priorities
and
that's
Mark
Trish,
the
executive
director
and
Chris
Nolan
Governor
Affairs
consultant
guys
introduce
yourself
for
the
record
and
I
appreciate
you
being
here.
K
Thank
you,
Mr
chairman
Chris
Nolan,
with
the
Insurance
Institute
of
Kentucky
Mark.
K
And
wanted
to
begin
by
just
taking
a
moment
to
thank
commissioner
Clark,
who
was
here
and
for
all
the
work
that
she's
put
in
during
these
trying
times
that
we've
had
here
in
Kentucky,
it's
been
difficult
for
our
insurance
companies
as
well,
but
we've
collaborated
well
with
with
her
and
with
the
Department
in
terms
of
sharing
information
and
data,
and
we
certainly
appreciate
that
collaboration.
K
We
wanted
to
outline
our
legislative
agenda
for
the
next
session
coming
up.
It
is
relatively
brief,
but
as
you've
seen
from
comments
earlier,
it's
it's
a
bit
complex.
We
have
four
or
five
issues
we
want
to
mention
here
briefly.
K
Today,
Mr
Bisset
has
touched
on
a
couple
that
I'll
comment
on
as
well,
but
we
wanted
to
start
with
what
is
is
and
has
been
our
continuing
number
one
priority
for
the
insurance
industry
and
that's
been
distracted
driving
and
it
is
a
a
enormous
Public
Safety
problem
for
the
Commonwealth
and
for
other
states
around
the
country
that
have
adopted
distracted,
driving
legislation
and
I
want
to
turn
it
over
to
Mark
to
talk
through
some
of
the
things
that
that
our
industry
supports.
L
Okay,
thank
you,
Chris
Mr
chairman,
ladies
and
gentlemen
of
the
committee
I'm,
not
going
to
go
over
the
details
of
the
bill
we
presented
essentially
that
same
bill.
It
was
one
that
representative
Tipton
sponsored
this
last
year.
This
committee
heard
it
during
the
session
for
discussion
only
we
plan
on
bringing
back
that
you
know
working
with
representative
Tipton
to
bring
back
that
same
bill
this
next
time.
L
You've
heard
about
it,
so
I,
don't
really
need
to
repeat
I,
don't
think
the
provisions
of
the
bill
I
do
want
to
just
emphasize
several
things
about
the
bill
itself.
One
is
that
we
view
this
bill
as
one
that
does
not
focus
on
its
punitive
nature,
that
is
issuing
tickets
or,
let's
find
people
doing
something
wrong.
Rather
it's
about
building
good
safety
habits,
distracted
driving
is
a
serious
issue.
That's
why
my
members
urged
several
years
ago.
It
we
came
to
a
strong
consensus
that
distracted
driving
is
a
growing
problem.
L
It
is
affecting
their
policyholders,
your
constituents
and
it's
very
much
a
safety
issue,
and
we
view
legislation
like
this,
which
would
require
the
hands-free
use
of
a
cell
phone
as
one
that
would
build
good
habits
and
the
law
sets
fences
that
sets
boundaries,
and
so
you
know
with
that.
With
passing
that
legislation,
you
can
send
a
message
that
we
are
trying
to
do
something
about
cutting
distracted
driving
when
you
think
about
seat
belts,
seat
belt
usage
is
pretty
much
automatic,
it
hasn't
always
been
that
way.
L
You
know,
as
most
of
you
know,
I
sat
where
you're
sitting
Once
Upon
a
Time,
my
freshman
session
in
the
legislature
in
1994
we
passed
Kentucky's,
first,
mandatory
seat
belt
law
and
I
believe
that
has
done
a
great
deal
to
increase
seat
belt
usage
in
Kentucky.
Over
that
time
it
was
fairly
controversial.
Then
we
heard
a
lot
of
the
same
arguments
then
about
seat
belts
that
we
hear
about
hands-free
use
right
now,
so
it
is
very
much
a
safety
issue.
L
We
have
texting
laws
in
place,
but
I
think
those
texting
laws
go
back
to
when
a
lot
of
people
are
using
cell
phones-
and
you
would
have
you
know
you
know
young
people
could
or
older
that
would
flip
open
and
just
you
know,
use
their
thumbs
to
you
know
when
you
had
to
hit
the
key
multiple
times
to
do
texting
and
so
on.
That's
probably
the
era
that
our
laws
came
from.
L
Now
people
can
broadcast
videos,
record
videos,
watch
videos
while
they're
driving
down
the
road
and
basically
the
legislation
that
we
have
would
do
something
about
that
it
would
keep
up
with
the
technology
a
little
bit
more.
The
other
thing
that
I
would
say
about
it
is
your
constituents
are
in
favor
of
this.
L
We
had
the
Mason-Dixon
poll.
Do
four
questions
for
us
in
January
of
this
year
and
I
was
actually
kind
of
surprised
by
the
results,
because
it
came
out
overwhelmingly
that
people
favored
a
hands-free
law
and
they
thought
it
would
do
some
good.
More
importantly,
so
I
will
say
your
constituents
favorite.
L
Oh,
you
know
I
think
there's
been
a
lot
of
concern
about
penalties.
That's
one
of
the
first
things:
I
mentioned
we're
not
looking
to
build.
You
know
a
mouse
trap
or
a
speed
trap
type
thing.
You
know
we're
certainly
willing
to
talk
about
the
penalties.
The
phase
in
you
know
how
those
penalties
take
place
and
so
on.
You
know
we're
willing
to
discuss
that,
but
as
far
as
the
basic
underlying
promise
of
a
hands-free
law,
we
are
very
supportive
of
that
and
will
continue
to
work
for
that.
L
So
without
I'll
turn
it
over
to
Chris
to
talk
about
some
of
the
rest
of
our
legislative
agenda
and
then
we'll
be
available
for
questions
afterwards.
K
Thank
you,
Mark
I'd,
like
to
transition
now
to
to
talk
a
little
bit
about
underwriting
transparency
that
that
West,
Bisset
so
adequately
explained
the
issue
that's
pending
before
in
coil.
That
will
eventually
make
it
into
the
states
and,
while
a
seemingly
simple
Concept
in
theory,
it's
very
difficult
to
create
a
one-size-fits-all
approach
to
a
rate
underwriting
formula
that
is
very
complex
and
utilized
differently
from
company
to
company.
K
We
believe
the
free
market
already
provides
a
remedy
to
this
issue.
It's
if
a
policyholder
gets
a
premium
increase
and
a
company
isn't
being
responsive
to
the
reasons
why
the
policyholder
and
the
agent
can
shop
their
business
to
other
companies
who
will
be
more
responsive
to
their
needs
and
that
incentive
incentivizes
competition
between
the
insurance
companies.
K
In
addition,
if
a
company's
not
forthcoming,
there
are
recourses
through
the
state,
Departments
of
insurance
and
their
consumer
protection
divisions
and
their
rate
filing
process
to
make
complaints
to
make
those
complaints
and
be
more
transparent.
K
A
24
percent
thought
the
color
of
their
car
impacted
their
rates,
28
percent,
believe
their
income
impacts
their
auto
insurance
rates.
38
percent
didn't
know
that
a
car's
make
and
model
impacts.
The
rates
51
didn't
know
that
living
in
a
certain
State
can
impact
your
rates
and
53
percent
incorrectly
thought
that
a
simple
parking
ticket
would
increase
your
rates
so
again
a
complex
issue,
but
we
don't
want
to
confuse
consumers
anymore
by
sending
out
more
mandatory
notices.
K
This
is
something
we
could
support
if
it
is
done
in
the
correct
Manner
and
it's
a
way
that
our
insurance
companies
I
mean
you're
talking
about
having
to
redo
all
of
our
internal
systems
in
order
to
to
give
individualized
responses
to
routine
rate
increases,
and
there
just
needs
to
be
some
parameters
put
around
how
that's
going
to
work.
K
So
again,
it's
it's
a
work
in
progress
and
something
that
we
want
to
get
behind
if
the
right
amendments
are
made
to
the
model,
so
I
want
to
Pivot
from
that
issue
now
to
an
issue
that
that
is
ongoing
with
this
legislature.
That
will
be
a
discussion
item
for
next
session,
which
is
litigation
funding
iik
and
our
member
companies
strongly
oppose
the
third
party
civil
litigation
funding.
The
legislation
introduced
last
session
and
discussed.
K
This
interim
provides
little
transparency
and
control
over
this
growing
way
of
funding
lawsuits
litigation
funding
is
the
practice
of
a
complete
stranger
to
a
lawsuit,
providing
funds
to
a
party
in
a
lawsuit
in
exchange
for
some
of
those
proceeds
of
the
lawsuit.
A
loan
made
under
this
contract
would
only
be
repaid
if
the
party
taking
out
the
loan
prevails
in
the
lawsuit.
Many
business
interests
in
Kentucky
have
long
advocated
for
tort
reform
in
our
state
and
litigation
funding
does
a
complete
180
and
takes
us
in
a
different
direction.
K
Litigation
funders
often
charge
around
three
percent
per
month,
which
is
an
annual
rate
of
36
percent
and,
however,
many
lenders
charge
compounded
compound
interest,
which
means
that
the
borrower
pays
an
interest
on
the
principal
and
the
accumulated
interest
for
a
three
percent
monthly
rate
that
raises
the
effective
annual
rate
to
40
to
more
than
42
percent
and
previously
filed
legislation
exempts
these
loans
from
our
usury
laws.
K
Proponents
of
this
effort
paint
the
picture
that
the
average
loan
amounts
are
relatively
small
and
they're,
mostly
utilized
by
victims
in
car
accidents,
who
have
no
means
to
access
money
whatsoever,
while
they're
waiting
on
litigation
to
be
finalized,
and
why
we
don't
deny
that
those
situations
may
exist.
There
is
an
entire
other
side
to
this
litigation
funding.
K
That
also
has
to
be
taken
into
account
if
the
legislature
is
going
to
consider
this
proposal
and
while
I'm
no
expert
on
this
issue,
I
do
know.
Litigation
funding
has
many
International
investors
and
hedge
funds
that
are
now
managing
12
billions
of
dollars,
12
billion
dollars
in
assets
who
are
playing
in
the
commercial
space
through
large-scale
tort
and
Commercial
cases,
alternative
dispute
resolution
proceedings
and
large
patent
and
intellectual
property
cases.
K
So
it
extends
far
beyond
the
the
small
guy
who
is
in
need
of
a
funding
Gap,
and
so
we
once
we
urge
the
legislature
to
carefully
consider
the
legislation
which
is,
being
you
know,
kind
of
portrayed
as
just
helping
the
little
guy.
There
is
a
big
side
of
this
proposal
that
we
can't
ignore
as
well.
K
Overall,
we
feel
litigation
funding
discourages
plaintiffs
from
settling
lawsuits,
because
the
large
amounts
that
they
owe
as
a
result,
there
may
be
attempts
to
negotiate
higher
settlements
just
to
cover
the
high
loan
and
fee
balances,
and
not
what
a
client
and
not
paying
what
a
claim
is
actually
worth.
This
will
drive
up
the
cost
of
litigation
which
drives
up
the
cost
of
insurance
premiums
for
individuals
and
for
businesses.
K
Moving
on
to
two
other
small
issues
that
we
just
want
to
make.
A
quick
mention
of
that
we'll
be
working
on
this
session
is
the
delivery
Network
companies
that
the
West
Bisset
very
well
outlined.
K
The
iik
is
very
supportive
of
passing
this
law
and
making
sure
that
there
aren't
any
coverage
gaps
as
drivers
in
the
ubereats,
doordash
and
buckle.
Universe
are
out
there
driving
on
the
roads
and
making
those
deliveries
that
are
becoming
even
more
and
more.
K
More
or
that
are
happening
more
and
more
is
what
I'm
trying
to
get
to.
Thank
you.
So
anyway,
we
very
much
support
that,
and
lastly,
later
on
today
in
the
transportation
committee
this
afternoon,
the
autonomous
vehicle
industry
Association
is
presenting
model
legislation
for
Kentucky
which
would
allow
the
use
of
autonomous
vehicles
on
Kentucky
roadways.
K
Almost
20
states
have
passed
this
model
legislation,
including
West
Virginia
earlier
this
year
and
10
or
12
other
states.
In
addition
to
that,
have
some
sort
of
Av
laws
autonomous
vehicle
laws
on
the
books.
The
legislation
is
supported
by
much
of
the
manufacturing
and
trucking
industry
in
Kentucky,
who
want
to
use
autonomous
vehicles
for
trucks
to
deliver
goods
from
their
supplier
to
their
manufacturing
plant
and
the
other
use
for
AVS
is
in
the
shared
economy.
K
Space
operating
driverless,
cars
for
Uber,
Lyft,
taxis,
limos,
ride
sharing
and
that
so
those
are
kind
of
the
two
different
areas
and
the
iik
supports
this
legislation,
because
it's
of
its
potential
to
dramatically
improve
safety
and
autonomous
vehicles
do
not
text
while
driving
fall
asleep
at
the
wheel,
drink
and
drive
and
do
other
distracting
things
while
driving.
So
we
think
this
is
a
good
step
in
the
right
direction.
So
with
that
we'll
open
it
up
to
some
questions
and
appreciate
the
Committees
Indulgence
today,.
A
Appreciate
you
guys
coming
you
always
full
of
information,
and
you
know
always
good
for
us
to
reach
out
to
so.
We
appreciate
that
very
much
I,
don't
really
see
any
questions,
but
I
know
that's.
Oh
Senator,
Alvarado,
I'm,
sorry,
I,.
E
Me
blogs
no
problem,
they're
talking
tort
reform,
so
I
got
to
speak
up.
Mr
chairman
I
appreciate
that
so
I
appreciate
a
lot
of
those
initiatives.
E
Obviously
that's
something
that's
been
near
and
dear
to
my
heart,
I
know:
I
get
villainized
by
I
think
an
irresponsible
legal
industry
in
our
state,
Supreme
Court,
who
hasn't
done
the
right
thing
on
this
topic,
a
bar
association,
that's
been
irresponsible,
really
and
I've
talked
to
a
lot
of
attorney
friends
who
agree
that
a
lot
of
this
stuff
is
really
not
not
been
good
for
our
state,
so
appreciate
those
initiatives.
E
One
piece
of
information
is
I.
Try
to
propose
a
lot
of
this.
The
accusation
from
people
who
are
opponents
to
those
topics
are
that
a
lot
of
what
we
talk
about
is
this
is
in
a
really
a
problem.
This
is
only
this
is
all
you
know.
There's
no
objective
evidence
to
this.
E
I
I
need
to
get
some
of
that
data,
so
I
would
ask
please
if
you
could,
whether
it
be
in
the
healthcare
Arena,
big
business
Arena,
whatever
there's
a
lot
of
demand,
letters
that
are
put
out
there,
a
lot
of
lawsuits
that
are
then
withdrawn
and
a
lot
of
action
in
that
space.
I
know
a
lot
of
our
insurance
companies
have
been
hesitant
to
provide
that
information
for
fear
of
disclosing
information
about
their
clients.
E
I'd,
like
it
just
to
be
blinded,
but
I
just
need
the
information
to
find
out
exactly
how
much
money
we're
talking
about
how
many
lawsuits
we're
talking
about
how
many
demand
letters
are
being
put
out
there,
because
it
is
a
massive
legal
industry
in
our
state
and
it's
it's
basically,
a
tax
on
our
citizens
is
what
it
becomes
in
every
aspect
of
either
doing
business.
Health
Care,
you
name
it
if
you
could
help
in
that
regard
would
be
great
and
then
a
second
idea
and
it's
an
idea.
E
I,
don't
think
it's
legal
right
now
federally,
but
with
distracted,
driving,
I've,
often
thought
about
would
be
cell
phone
jamming,
which
I
know
there's
devices
that
can
do
that
I.
Don't
think
they're
legal
to
be
used.
Federally
is
my
understanding,
but
the
thought
of
either
having
maybe
talking
to
automotive
industry
having
those
Incorporated
in
our
vehicles
that
they
can
be
switched
on
and
off.
And
if
someone
has
one
I
mean
I
know:
I
have
State
Farm
for
my
car.
E
They
put
a
little
device
in
my
car
to
see
if
I
speed
and
what's
my
braking
like
and
they
give
me
discounts
on
those
kinds
of
things.
There
might
be
an
initiative
to
propose
for
drivers
to
say
if
you've
got
one
of
these.
If
it's
used
all
it's
got
to
be
federally
legal
and
all
those
sorts
of
things.
But
if
it's
turned
on
that
you're
going
to
have
a
discount
of
some
sort
to
drive
with
those
in
your
insurance
rates
and
I
just
like
to
get
your
thoughts.
L
Senator
Alvarado
Mr
chairman,
oh
a
lot
of
what
you're
describing
on
the
distracted
driving
and
then
what
you
called
cell
phone
jamming
does
exist.
There
are
apps
on
phones,
some
are
you
know,
you
know
third-party
apps,
where,
basically,
you
can't
do
anything
with
your
phone.
It
you
know
it's
like
a
lock
screen
or
whatever,
and
parents
will
often
use
this
for
teen
drivers.
Oh,
that
you
can't
do
anything
while
you're
traveling
I
know
it's
not
exactly
the
same
thing,
but
in
my
wife's
vehicle
we
have
a
built-in
guidance
system.
L
Well,
if
you
want
to
try
to
change
your
destination,
you
literally
can't
do
it.
While
the
vehicle
is
in
motion,
you
would
have
to
pull
over
to
the
side
of
the
road.
Then
change
your
destination
because
it
knows
you're
moving
and
just
doesn't
let
you
so
what
Chris
alluded
to
before
in
the
competitive
Marketplace.
Some
insurers
do
offer
discounts
for
using
that
type
of
app,
especially
when
it
comes
to
teen
drivers.
L
I
think
the
most
difficult
part
about
you
know:
cell
phone
jamming
is
it
you
know
what,
if
I'm
the
passenger,
then
you
know
the
vehicle
is
in
motion.
How
does
it
distinguish
whether
I'm
the
front
seat,
passenger
or
a
back
seat?
Passenger-
or
you
know
maybe
I'm,
even
on
a
bus
or
something
oh
I-
think
that's
one
of
the
technical
technological
difficulties
that
would
have
to
be
overcome.
E
E
You
know
front,
so
we
can
kind
of
get
some
of
these
initiatives
rolling.
We.
K
Can
definitely
look
into
to
providing
some
of
that
data
that
you're
talking
about?
Thank
you
on
the
distracted
driving
I'll
just
add
representative
Roman,
Roland
chairland,
chairman
Roland,
had
a
bill
last
session.
K
Dealing
with
rebating
in
the
insurance
industry
and
part
of
that
bill
was
to
very
clearly
specify
that
that
in
insurance
companies
can
can
use
these
types
of
things
to
incentivize
policyholders
to
to
put
these
apps
on
their
phones
and
to
and
it's
it's
everything
from
in
your
house,
monitors
on
your
hot
water
heater
to
make
sure
that
it
doesn't
bust
and
create
a
claim
to
things
in
your
cars
and
incentivize
you
to
do
that
and
for
Less
to
give
you
discounts
for
doing
so
so
again.
F
L
F
A
Well,
thank
you
all
I
know
this
is
going
to
be
some
issues.
We're
going
to
be
talking
about
this
upcoming
session,
so
appreciate
your
all's
testimony
today
and
always
working
with
us
I,
don't
think
there's
any
other
major
questions,
but
I
do
want
to
say
you
know
it's
like
it's
like
being
able
to
listen
to
your
own
eulogy
for
representative
Roland
this
year.
Every
time
we
go
to
a
every
time
we
go
to
a
meeting
or
something
you
know
we
are
toward
the
end
here.
A
We've
all
talked
about
our
friendship
and
his
leadership,
and
last
night
he
he
received
an
award
from
big
guy.
You
know
he
received
the
Lifetime
Achievement
Award
for
his
work
and
I.
Think
it
just
is
a
testimony
to
why
we
all
come
and
serve,
and
do
this
I
tell
everybody
it's
it's
a
it's,
not
a
part-time
job,
it's
just
part-time
pay,
and
so
we
have
to
spend
a
lot
of
time
involved,
and
you
know
we
all
have
areas
of
expertise
and
Bart's
expertise
is.
A
It
has
been,
you
know
through
the
insurance
industry
and
it
really
makes
a
difference
to
be
able
to
have.
You
know.
Real
World
experience
and
be
able
to
imply
that
and
apply
that
to
make
people's
lives
better
and
so
I
thought
that
was
a
great
opportunity
for
everybody
to
kind
of
give
him
a
recognition
last
night
they
did
a
good
job.
A
He
didn't
even
know
about
it
until
they
started
talking
about
him,
so
he
thought
he's
getting
to
hear
his
eulogy
again
is
what
I've
told
him
so,
but
he
has
been
a
great
co-chair.
We've
had
a
great
relationship
of
us
doing
this
and
so
I've
enjoyed
it
and
he
will
be
missed
and
I'm
sure.
There's
plenty
of
people
vying
to
take
his
spot
and
maybe
have
big
shoes
to
fill
so
resident
of
Roland
Bart
as
I
like
to
call
him.
A
K
K
Mr,
chairman
the
at
the
end
call
meeting
next
month,
there
will
be
a
retirement
dinner
for
both
representative
Fisher
and
representative
Roland,
so
it
will
continue.
Yeah.
A
A
All
right,
any
other
questions
or
comments
with
that
being
said,
I
think
that
unless
something
crazy
happens
and
representing
Roland
just
wants
to
come
back
up
here,
one
more
time
you
never
know
this
will
probably
be
our
last
committee
meeting
before
session
starts.
So
until.