Updating certain terms, definitions and conditions relating to the requirements of certain insurance reports, examinations and transactions.
Enacts provisions relating to reinsurance and examinations of insurance companies
Authorizing the commissioner of insurance to set the amount of certain fees and requiring the publication of such fees in the Kansas register.
Authorizing the commissioner of insurance to set the amount of certain fees and requiring the publication of such fees in the Kansas register.
Enacting the Kansas protected cell captive insurance company act, providing for the redomestication of a foreign or alien captive insurance company and updating certain terms, requirements and conditions of the captive insurance act, reducing insurance company premium tax rates, creating parity between the insurance agent and public adjuster licensing requirements, authorizing insurers to file certain travel insurance policies under the accident and health line of insurance and authorizing the commissioner of insurance to select and announce the version of certain instructions, calculations and documents in effect for the upcoming calendar year and cause such announcement to be published in the Kansas register not later than December 1 of the current year.
Discontinuing payments to certain group-funded insurance pools, refunding existing balances thereof and abolishing such funds and establishing the group-funded pools refund fund; adjusting the basis upon which certain premium tax calculations are made, requiring such premium taxes to be paid 90 days after each calendar year and basing such premium taxes upon the gross premiums collected for the previous calendar year; and adding fire districts to the definition of "municipality" for purposes of the the payment of COBRA premiums under certain circumstances.
Providing for the establishment of a web-based online insurance verification system for the verification of evidence of motor vehicle liability insurance, eliminating the requirement that the commissioner of insurance submit certain reports to the governor and requiring certain reports be available on the insurance department's website, removing certain entities from the definition of person for the purpose of enforcing insurance law, requiring that third party administrators maintain separate fiduciary accounts for individual payors and prohibiting the commingling of funds held on behalf of multiple payors, requiring the disclosure to the commissioner of insurance of any bankruptcy petition filed by or on behalf of such administrator pursuant to the United State bankruptcy code, requiring title agents to make their reports available for inspection upon request of the commissioner of insurance instead of submitting such reports annually, standardizing the amount of surety bonds filed with the commissioner of insurance at $100,000 and eliminating the small business exemption in certain counties.
Authorizing the commissioner of insurance to set the amount of certain fees and cause the publication of such fees in the Kansas register, authorizing the commissioner to reduce the number of board members on certain insurance-related boards, renaming the Kansas insurance department as the Kansas department of insurance, renaming the office of the securities commissioner as the department of insurance, securities division, renaming the securities commissioner as the department of insurance, assistant commissioner, securities division and eliminating the requirement of senate confirmation for appointees to such position, requiring the commissioner of insurance to maintain a list of eligible nonadmitted insurers and authorizing such nonadmitted insurers to transact business in Kansas with vehicle dealers and to provide excess coverage insurance on Kansas risks.
Reducing the number of appointed board members on certain insurance-related governing boards and the frequency of meetings of the the committee on surety bonds and insurance.
Providing for different credit percentages for the tax credit for expenditures for the restoration and preservation of historic structures based on city populations and the amount of the expenditures.