The bill proposes significant amendments to the Kansas insurance regulatory framework, including the renaming of the Kansas insurance department to the Kansas department of insurance and the office of the securities commissioner to the department of insurance, securities division. Key changes include authorizing the commissioner of insurance to set and publish certain fees in the Kansas register, reducing the number of board members on specific insurance-related boards, and modifying vehicle dealer license requirements to allow insurance policies from eligible nonadmitted insurers. Additionally, the bill eliminates the need for Senate confirmation of the assistant commissioner of the securities division, streamlining the appointment process.

Further amendments establish a list of eligible nonadmitted insurers, adjust financial requirements for these insurers, and remove certain language regarding insurance policy approvals. The bill also updates the fee structure for insurance companies, introduces stricter compliance requirements for insurers using managing general agents (MGAs), and revises the governing board structure overseeing insurance risk apportionment. Other provisions include enhanced transparency in mergers and acquisitions, updated licensing requirements for administrators and pharmacy benefits managers, and the establishment of an assigned claims plan for personal injury protection benefits. Overall, the bill aims to enhance regulatory oversight, streamline processes, and ensure consumer protection within the Kansas insurance industry.

Statutes affected:
As introduced: 40-205a, 40-218, 40-252, 40-2, 40-504, 40-956, 40-22a04, 40-2604, 40-2702, 40-3213, 40-3304, 40-3812, 40-3813, 40-3814, 40-3823, 45-229, 40-3824, 40-4103, 40-4116, 40-4209, 40-4302, 40-4323, 40-4334, 40-4503, 40-4903, 40-5003, 40-5509
As Amended by House Committee: 40-205a, 40-218, 40-252, 40-2, 40-504, 40-956, 40-22a04, 40-2604, 40-2702, 40-3213, 40-3304, 40-3812, 40-3813, 40-3814, 40-3823, 45-229, 40-3824, 40-4103, 40-4116, 40-4209, 40-4302, 40-4323, 40-4334, 40-4503, 40-4903, 40-5003, 40-5509
As Amended by Senate Committee: 40-205a, 40-218, 40-252, 40-2, 40-504, 40-956, 40-22a04, 40-2604, 40-2702, 40-3213, 40-3304, 40-3812, 40-3813, 40-3814, 40-3823, 45-229, 40-3824, 40-4103, 40-4116, 40-4209, 40-4302, 40-4323, 40-4334, 40-4503, 40-4903, 40-5003, 40-5509
Enrolled: 8-2405, 40-102, 40-205a, 40-218, 40-246b, 40-246e, 40-252, 40-2, 40-504, 40-956, 40-2102, 40-2109, 40-22a04, 40-2604, 40-2702, 40-3116, 40-3213, 40-3304, 40-3413, 40-3812, 40-3813, 40-3814, 40-3823, 45-229, 40-3824, 40-4103, 40-4116, 40-4209, 40-4302, 40-4323, 40-4334, 40-4503, 40-4903, 40-5003, 40-5509, 75-4101, 75-6301