On Apr. 8, KNS LEG enacted bill on powers, duties of captive insurers.
KNS LEG enacted bill HB 2334, requirements related to captive insurance companies.
Reduce State premium tax levied on insurance carrier to 1.98% total premium written.
Reconciles multiple amendments to certain statutes within KNS INS 40 (insurance).
Document dated Apr. 8, 2025, was received on Apr. 22 due to a fixed feed.
Bill Provisions
Authorizes incorporated cell and protected cell captive insurance companies.
Enacts Kansas protected cell captive insurance company act, sets requirements on redomestication of foreign captive insurance company, provisional certificates.
Expands types of insurance captive insurance company may provide; extends the period of time in between financial examinations conducted by the commissioner.
Exempts redomesticated foreign captive insurers from paying premium tax one year.
Additonally, bill HB 2334 reduces insurance company premium tax rates in Kansas.
Updates the licensing requirements for insurance agents and adjusters, authorizes insurers to file certain travel insurance policies under the accident and health line.
Adopts certain provisions from national association of insurance commissioners holding company system regulatory act on group capital calculations, liquidity stress testing.
Legislative History
On Feb. 7, 2025, bill introduced in House; on Feb. 20, 2025, bill passed House.
On Feb. 25, 2025, bill introduced in Senate; on Mar. 20, 2025, bill passed Senate.
On Apr. 4, 2025, bill enrolled; on Apr 8, 2025, bill was approved by the governor.
