To collect premiums or adjust life or health insurance claims in Kentucky, what license is required?

In Kentucky, to collect premiums or adjust life or health insurance claims, an administrator's license is required. An administrator operates as an entity or individual that manages or oversees the administration of insurance policies and the claims process on behalf of an insurer. This role typically involves tasks such as collecting premiums and facilitating the payment of claims, which necessitates specialized knowledge and regulatory compliance.

Other licenses, like an agent's license, primarily authorize individuals to sell insurance products rather than manage claims or collect premiums on behalf of another party. Meanwhile, an adjuster's license specifically pertains to individuals who evaluate and settle insurance claims, focusing on the adjustment process rather than the overall administration. A consultant's license is generally relevant for advising clients on insurance options, but does not encompass the obligations related to handling premium collection or claims adjustment. Thus, the administrator's license is uniquely qualified for overseeing these functions in the insurance landscape.