The bill proposes significant changes 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. It transfers powers and responsibilities between these offices, reduces the number of board members appointed by the commissioner of insurance, and decreases the frequency of meetings for the committee on surety bonds and insurance. The commissioner is granted the authority to set and publish certain fees in the Kansas register, and the requirement for Senate confirmation of the assistant commissioner for the securities division is eliminated. Additionally, the bill clarifies the role of nonadmitted insurers, raises their minimum capital requirement, and establishes a list of eligible nonadmitted insurers.

Further amendments include updates to the fee structure for insurance companies and fraternal benefit societies, the introduction of stricter regulations for managing general agents (MGAs), and the establishment of new requirements for risk retention groups and purchasing groups. The bill also enhances the confidentiality and operational requirements for technology-enabled fiduciary financial institutions and captive insurance companies, modifies continuing education requirements for licensed insurance agents, and outlines healthcare coverage provisions for various state entities. Overall, the bill aims to streamline the insurance regulatory process, enhance oversight, and ensure better protection for consumers while updating the legal framework to reflect current practices.

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