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 insurers to maintain detailed records of all complaints received since their last examination. The definition of "complaint" is clarified to encompass any written communication expressing grievances about the insurer's practices. Additionally, the bill introduces stricter regulations for title insurance practices, prohibiting inducements or rebates to secure business and requiring disclosure of any financial interests that title business producers may have in title insurers or agents.

Moreover, the bill outlines procedures and penalties related to the licensing of business entities in the insurance sector, ensuring compliance with the Kansas administrative procedure act. It allows for the suspension, revocation, or refusal to renew a business entity's license based on individual licensee violations and establishes a two-year limit for instituting disciplinary proceedings after a license's expiration. The bill also imposes administrative penalties for violations, with specific maximum amounts, and introduces a waiting period of one or two years for applicants whose licenses have been denied or revoked before they can reapply. Overall, the bill aims to promote transparency, fairness, and ethical standards in the insurance market while providing necessary protections for consumers.

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