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STOLI Legislation Signed into Law
Kansas Insurance Commissioner Sandy Praeger said the signing of a bill placing more consumer protections on "Stranger/Investor-Originated Life Insurance" policies, known as STOLIs, is an important step in keeping deceptive practices from harming Kansans.
The bill, known as Senate Substitute for House Bill 2110, was signed into law by Gov. Kathleen Sebelius on April 21. It provides a revised definition of a STOLI policy, places restrictions on financing such a policy by strangers who would profit from it, and closes a trust loophole. It amends the state's Viatical Settlements Act of 2002. (Read the news release 
)
Kansas Insurance Commmissioner Sandy Praeger responds to U.S. Treasury proposals
"Any change should not put Wall Street ahead of Main Street."
National Association of Insurance Commissioners (NAIC) President and Kansas Insurance Commissioner Sandy Praeger responded Monday, March 31, to the U.S. Treasury Department's Blueprint for Financial Regulatory Reform, which was issued the same day.
The Treasury proposals included creation of a federal insurance regulator, which would allow insurance companies to opt out of state regulation. The plan also calls for creating an Office of National Insurance, headed by a federal commissioner, within the Treasury Department. (Read the news release )
Flood Safety Awareness
Sandy Praeger, NAIC President and Kansas Insurance Commissioner, addresses media while touring the Brush Creek urban drainage channel March 18 in Kansas City, MO. Commissioner Praeger and David I. Maurstad, FEMA Assistant Administrator of Mitigation and Federal Insurance Administrator, discussed flood safety and related insurance issues at a flood insurance workshop in North Kansas City, MO, as part of Flood Safety Awareness Week, March 17-21.
Latest News
- Consumer Alert - Flood potential reminder of insurance concerns
- Insurance Commissioner recognizes employees during public service week
- Insurance Commissioner Praeger agrees with maximum sentence for agent
- Legislation places restrictions on 'death futures' policies
More news...
Consumer Alerts...
Commissioner's Corner for May 2008
Greensburg anniversary reminds Kansans that property should be inventoried, protected
The May 4 first anniversary of the devastating and deadly Greensburg tornado serves as a reminder to all Kansans to make sure their property insurance is current and adequate.
Having a written and video record of your home’s belongings is something we stress to consumers in our department presentations. The information you enter into a home inventory can make an insurance claim settlement faster and easier. Having the property file makes for a more accurate claim, saving you time, money and frustration when you have a property loss.
- Related: Personal Home Inventory booklet
Previous Commissioner's Corners...
Our primary responsibility is to you, the people whose personal lives or business endeavors are protected by an insurance product in the state of Kansas.
If you have questions or concerns about insurance, please contact our Consumer Assistance Division by calling toll-free 1-800-432-2484 or e-mail us at commissioner@ksinsurance.org.
Sandy Praeger - Commissioner of Insurance