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HB2334: Enacting the Kansas protected cell captive insurance company act, providing for the redomestication of a foreign or alien captive insurance company and updating certain terms, requirements and conditions of the captive insurance act, reducing insurance company premium tax rates, creating parity between the insurance agent and public adjuster licensing requirements, authorizing insurers to file certain travel insurance policies under the accident and health line of insurance and authorizing the commissioner of insurance to select and announce the version of certain instructions, calculations and documents in effect for the upcoming calendar year and cause such announcement to be published in the Kansas register not later than December 1 of the current year.
Passed BothHouse
Introduced
In Committee
Passed Chamber
Passed Both
Signed
Plain-Language Summary
This bill updates Kansas laws related to captive insurance companies, travel insurance policies, and licensing requirements for insurance agents and public adjusters. It also reduces premium tax rates for insurance companies.
Who This Affects
Kansas-based insurance companies and their customers will be affected by this bill. Specifically, it may lead to lower costs for Kansans who purchase travel insurance or have captive insurance policies.
Key Provisions
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Timeline
Introduced
Thursday, February 6, 2025
Last Action
House Approved by Governor on Tuesday, April 8, 2025
Apr 9, 2025
Sponsors
No sponsors listed.
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