Authorizing insurers to file certain travel insurance policies under the accident and health line of insurance.
Impact
The proposed changes have the potential to streamline the way travel insurance is categorized and regulated within the state of Kansas. By classifying travel insurance under a broader range of insurance lines, including accident and health, it can enhance the market for travel insurance products. This could promote more diverse policy offerings and potentially lower costs for consumers as insurers have more options in how they file and manage these products. The bill aims to clarify the underwriting standards and eligibility criteria that insurers can establish.
Summary
House Bill 2046 aims to amend existing Kansas insurance laws to include travel insurance under the accident and health insurance category, allowing insurers to file certain travel insurance policies under this line. The bill specifically allows the classification and filing of travel insurance that provides coverage for various scenarios, such as sickness, accidents, disability, or death occurring during travel. It introduces a flexible approach whereby travel insurance can either be filed under an accident and health line or an inland marine line, based on the nature of coverage provided.
Conclusion
As HB2046 progresses through the legislative process, it will be important to monitor discussions around its implementation and any amendments proposed to address concerns from various stakeholders. The balance between fostering a competitive insurance market and ensuring robust consumer protections will likely be a significant focus as lawmakers evaluate the bill's implications.
Contention
While the bill appears to be beneficial for the insurance industry and consumers, there may be points of contention regarding regulatory oversight and the potential implications for consumer protection. Opponents may argue that allowing more flexibility in classification could lead to variability in coverage standards or the adequacy of benefits provided to consumers. It remains essential for the legislature to ensure that the changes do not compromise consumer rights or create ambiguities that could be exploited by insurers.
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.
Updating certain statutory references contained in chapter 40 of the Kansas Statutes Annotated; specifying certain requirements of documents submitted by medicare provider organizations and health maintenance organizations to demonstrate fiscal soundness; removing the requirement of a documented written demand for premium as part of a prima facie case; adding certain legal entities to the definition of person for purposes of violations of insurance law; and updating the version of risk-based capital instructions in effect.
Updating certain definitions, terms, conditions and provisions related to the Kansas insurance guaranty association act and Kansas life and health insurance guaranty association act.
Amending the Kansas life and health guaranty association act to include health maintenance organizations as member insurers and broadening the assessment base for long-term care insurance insolvencies.
Reducing the number of appointed board members on certain insurance-related governing boards and the frequency of meetings of the committee on surety bonds and insurance.
Requiring that certain health insurance plans impose no-cost sharing requirement on insured individuals for diagnostic breast examinations for breast cancer.