annual audit of kansas self-insurance pools
A nnually KAIA publishes a comparison of financial information concerning the Kansas self-insured pools based on the audited financial statements of the pools submitted to the Kansas Department of Insurance. The audited financial statements are obtained by the KAIA through a Kansas Open Records request to the Department. This information is then provided to the accounting firm of Mize Houser & Company that prepares the comparison below. Complete copies of the audited financial statements obtained by the KAIA are available to members of the KAIA as a free service. Contact KAIA at 1-800-229- 7048 with questions about the pools or to request a copy of the audited financial statements.
Each year, KAIA accumulates selected information from the audited financial statements of the self-insurance funds operating in Kansas as a measure of the financial viability of self-funded pools. This year the information for these pools was summarized by the accounting firm of Mize Houser & Company, P. A. A complete copy of each audit is available as a free service to KAIA members. Contact KAIA at 1-800-229-7048 or dave @ kaia. com with questions about the pools or to request a copy of any audit. private pools
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Kansas |
Kansas |
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|
|
|
Kansas Building |
Association of |
Automobile |
Kansas Restaurant |
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Kansas Livestock |
|
Industry Workers ' |
Homes for the |
Dealers Workers ' |
and Hospitality |
Kansas Employers |
Association Risk |
KHA Workers ' |
Compensation |
Aging Insurance |
Compensation |
Association self |
Workers ' |
Management |
Comepnsation |
Fund |
Group, Inc. |
Fund |
Insurance Fund, Inc. |
Compensation Fund |
Services, Inc. |
Fund |
12 / 31 / 15 03 / 31 / 16 12 / 31 / 15 12 / 31 / 15 12 / 31 / 15 12 / 31 / 15 12 / 31 / 15
REVENUES: Premiums earned Investment in County reinsurance Investment income Realized capital gain( loss) Other income
Total Revenues
EXPENSES: Incurred lossess / workers compensation claims Claims adjustment Claims management fees Administration Agent commissions Premium taxes Insurance taxes Excess insurance premiums Other underwriting expenses Other expenses
Total Expenses
Net income( loss) before dividends and income taxes Dividends paid to members
Net income( loss) before income taxes Provisions for income tax expense( benefit)
Net Income( Loss)
$ 10,834,778 $ 4,011,105 $ 3,519,198 $ 2,570,469 $- $ 3,676,221 $ 4,677,602
1,095,016 269,095 212,462 304,965 17,518 422,171 259,848
141,731
12,071,525 4,280,200 3,731,660 2,875,434 17,518 4,098,392 4,937,450
6,075,308 |
1,983,863 |
1,774,639 |
2,017,774 |
( 101,695) |
1,408,341 |
2,745,033 |
|
350,166 |
|
|
( 3,834) |
|
|
|
|
299,132 |
|
|
|
|
|
862,500 |
252,127 |
|
( 73,936) |
590,893 |
|
799,203 245,344 |
|
89,847 |
|
|
( 6,795) |
|
962,353 |
221,768 |
236,110 |
199,477 |
308,881 |
487,145 |
|
|
178,976 |
774,622 |
|
1,044,842 |
1,336,918 |
|
|
61,496 |
114,302 |
|
9,419,126 3,418,297 2,830,831 3,053,369( 179,465) 2,415,622 4,277,020
2,652,399 |
861,903 |
900,829 |
( 177,935) |
196,983 |
1,682,770 |
660,430 |
423,171 |
74,999 |
592,000 |
|
|
1,500,385 |
200,000 |
2,229,228 |
786,904 |
308,829 |
( 177,935) |
196,983 |
182,385 |
460,430 |
711,204 |
- |
84,700 |
( 62,315) |
|
( 28,118) |
364,939 |
1,518,024 786,904 224,129( 115,620) 196,983 210,503 95,491
Change in nonadmitted assets Change in provisions for reinsurance Change in net deferred income tax Refund of contributions Change in net unrealized gains( losses) on investm Prepaid expenses / premium assessments Extraordinary amounts of taxes for prior years Prior period adjustment Fund balance transfer
Members ' fund balance, beginning of year
12,406 |
( 11,790) |
( 40,033) |
2,440 |
( 93,836)- |
193,007 |
( 14,000) |
61,502 |
212,490 |
( 912,547) 307,379( 68,886) 17,333( 410,682)( 69,200)
|
|
|
|
|
|
- |
4,636,948 |
1,319,503 |
1,988,900 |
2,933,146 |
( 791,833) |
2,987,416 |
2,191,409 |
Members ' fund balance, end of year
$ 5,447,838 $ 2,401,996 $ 2,199,029 $ 2,708,607 $( 577,517) $ 2,851,179 $ 2,336,354
24 KANSAS INSURANCE AGENT & BROKER | November- December 2016 |