The bill amends Kansas insurance law by restructuring the governance of insurance-related boards. It reduces the number of board members appointed by the commissioner from nine to five, effective January 1, 2026, with the new composition including three representatives from insurers, one from independent insurance agents, and one from the general public. Additionally, the bill addresses the frequency of meetings for the committee on surety bonds and insurance, although specific details are not provided. It also clarifies the responsibilities of governing boards and the commissioner in reviewing and approving plans for equitable apportionment among insurers for applicants unable to procure insurance through ordinary methods.

Moreover, the bill specifies that excess losses and expenses over premiums earned shall be transferred from the fund no more than once every three months. The governing board will maintain its nine-member structure until December 31, 2025, after which it will transition to five members. It outlines the process for reviewing and approving insurance plans, including a requirement for a hearing if a plan is disapproved by the commissioner. The bill establishes a committee on surety bonds and insurance, consisting of key state officials, and allows various state agencies and educational institutions to procure insurance independently. It also repeals several existing statutes and will take effect upon publication in the Kansas register.

Statutes affected:
As introduced: 40-2102, 40-2109, 40-3116, 40-3413, 75-4101
As Amended by House Committee: 40-2102, 40-2109, 40-3116, 40-3413, 75-4101