The bill amends Kansas insurance laws to enhance accountability and transparency within the insurance industry, particularly focusing on unfair and deceptive practices. It mandates that insurance agents and insurers respond to inquiries from the commissioner of insurance within 14 calendar days and introduces provisions for pilot programs that allow insurers to test value-added products or services for up to one year, with potential extensions. The bill also outlines a comprehensive list of unfair methods of competition and deceptive acts, including misrepresentations and unfair discrimination, while emphasizing consumer protection by ensuring that any value-added services offered are reasonable in cost and not discriminatory.

Additionally, the bill establishes stricter penalties for violations of insurance laws, including the potential denial, suspension, or revocation of licenses for infractions such as providing misleading information or failing to respond to inquiries. It requires insurers to maintain records of complaints and clarifies the definition of "complaint," while also addressing financial interests in title insurance transactions. The commissioner of insurance is granted authority to adopt necessary regulations to enforce these provisions, and the bill outlines procedures for licensing and administrative penalties, ensuring that affected parties receive due process under the Kansas administrative procedure act.

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