The bill amends Kansas insurance laws to enhance accountability and consumer protection within the insurance industry. It mandates that insurance agents and insurers respond to inquiries from the commissioner of insurance within 14 calendar days and requires the maintenance of comprehensive records of complaints. The definition of "complaint" is clarified to encompass any written grievances related to insurer practices. Additionally, the bill prohibits misrepresentation in insurance applications and establishes penalties for violations. It also addresses rebates and inducements in title insurance, prohibiting financial incentives to secure business and requiring disclosure of financial interests when referring clients.

Moreover, the bill outlines disciplinary actions against business entities and individual licensees, ensuring that any administrative penalties follow the Kansas administrative procedure act for due process. It allows for the suspension or revocation of licenses if violations are not reported or corrected and establishes a two-year limitation for instituting disciplinary proceedings after a license's expiration. New provisions regarding administrative penalties enable the commissioner to impose fines based on the violation's nature and the violator's knowledge, while also setting waiting periods for reapplying for licenses after denial or revocation. The bill aims to create a more transparent and fair insurance environment for consumers.

Statutes affected:
As introduced: 40-2404, 40-4909
As Amended by Senate Committee: 40-2404, 40-4909
As Amended by House Committee: 40-2404, 40-4909