SCROLL DOWN FOR BILLING SUMMARY FORM
Kentucky Assigned Claims Plan
Explanatory Information for Billing Summary Form:
Please include current reimbursement requests only and do not include amounts for which your
company has already been paid.
Subrogation:
a.
Gross Recovery: is the total amount recovered in subrogation for this specific claim. Do not
include recoveries for others involved in the same accident, as each must be submitted on a
separate billing summary form.
b.
Recovery Costs: Rule 8 of the KACP Rules and Regulations states:
In pursuit of subrogation authorized by the Bureau, the servicing insurer shall be entitled to a fee
equal to 15% of gross recovery, or 15% of net recovery if an attorney is engaged to make recovery.
In the event of subrogation authorized by the Bureau there shall be a minimum fee of $30.00 per
claim. Court costs incurred by the servicing insurer, even when recovery is unsuccessful, will be
reimbursed by the Bureau and should be billed under Subrogation Expense.
c.
Net Recovery: If an attorney was not involved the company is entitled to 15% of the gross
recovery.
d.
Fee: see (b) above for explanation.
e.
Amount Due KACP: (c-d) Net recovery minus Fee and Check is being sent to KACP
f.
Subrogation Expense: This is the expense of court costs, bailiff surcharge, commissioner’s fee,
alias etc.
g.
Amount Due Servicing Carrier: Used to request payment of KACP if the subrogation costs
exceed net recovery or nothing is recovered.
Loss Payments:
1,2,3,4,5: List PIP amounts paid for each item separately.
a.
Total Paid: Add each item under 1-5 for a total paid for this claimant.
b.
Fee: Section 4, Rule 6 of KACP Rules and Regulations states:
The Bureau shall be responsible for reimbursement to the servicing insurers as follows:
(a)
The servicing insurer shall be entitled to reimbursement for all benefits paid in good
faith and to a maximum claim handling fee equal to 10% of such benefits paid per
accident or loss. In no event shall such fee be less than $250.00 per claimant. In
addition, the servicing insurer shall be reimbursed for allocated claim expenses,
subject to approval of the Bureau.
(b)
The servicing insurer shall not be reimbursed for interest or penalties on overdue
payments which results from its negligence or for any improper payments in failing to
take all allowable deductions set forth in KRS 304.39-160.
c.
Allocated Costs: A servicing insurer shall not be reimbursed for attorney fees or independent
adjusting charges unless incurred in consent of the Bureau.
d.
Due Company: This is the total amount due your company for this claimant and is a
total of a+b+c.
e.
Less Subrogation: If the amount of subrogation is to be deducted from the amount due your
company please indicate this amount and provide full information under the subrogation
column.
f.
Amount Due Servicing Carrier: If the amount collected includes a deduction for subrogation
collected please indicate here.
