KANSAS
INSURANCE DEPARTMENT
Notice of Hearing on
Proposed
Administrative
Regulations
A public
hearing will be conducted at 1:30 p.m.,
The 60-day
notice of the public hearing shall constitute a public comment period for
purpose of receiving written public comments on the proposed rules and
regulations. All interested parties may
submit written comments prior to the hearing to
A summary of the regulations and their
economic impact follows.
K.A.R. 40-1-51. Securities valuation; requirements. This proposed regulation proposes to adopt the National
Association of Insurance Commissioners’ “Purposes and Procedures of the
Securities Valuation Office of the National Association of Insurance
Commissioners” manual.
The
primary purpose of the regulation is financial in nature. It adopts industry
standards that are currently in use by companies.
There
is little fiscal impact as a result of these changes inasmuch as insurance
companies currently use the standards as outlined in the manual. There is also little or no fiscal impact on
the Kansas Insurance Department or other government agencies.
K.A.R. 40-1-42. Diskette Electronic Filing and
filing quarterly financial statements. This proposed regulation sets out the requirements for
filing quarterly and annual financial statements. The primary amendment defines
“insurers.” The remaining amendments are technical changes only.
The
economic impact on companies, consumers, the Department, and other governmental
agencies is minimal, if any, given that the companies currently comply with the
requirements contained in this regulation.
Any
individual with a disability may request accommodation in order to participate
in the public hearing and may request the proposed regulations and economic
impact statements in an accessible format.
Requests for accommodation to participate in the hearing should be made
at least 5 working days in advance by contacting Deletria Nash at (785)
296-4140 or via email at dnash@ksinsurance.org.
Any individual desiring a copy of this regulation and the policy and
procedure that is being adopted by reference, if applicable, may obtain a copy
from our website, www.ksinsurance.org, under the Legal Issues link or by
contacting Deletria Nash by phone at (785)296-4140 or via email at dnash@ksinsurance.org. The charge for copies is fifty cents per
page.