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ARTICLE · 22 APRIL 2019

Kentucky Adopts First Legislation Creating An InsurTech Innovation "Sandbox."

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Kentucky House Bill 386 is the first comprehensive framework for an insurance regulatory "sandbox" in the nation. It allows companies, even those without an insurance license,

United StatesInsurance

Kentucky House Bill 386 is the first comprehensive framework for an insurance regulatory “sandbox” in the nation. It allows companies, even those without an insurance license, to market their inventions in a tailored regulatory environment.

The legislation strikes a balance between innovation and balanced public-sector oversight by creating a temporary regulatory safe harbor.

Key requirements for admission to the “sandbox” include:

  • An application to the Kentucky Department of Insurance for admission to the sandbox by submitting a detailed application to the department that (among other things) explains the innovation and the regulatory impediments to testing that innovation.

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