| FROM THE COMMISSIONER |
Big Business in Kansas
Bringing Insurance Companies to Kansas
KEN SELZER
T
he Kansas Insurance Department has four
major functions: We regulate and review
companies, we educate consumers, we assist
consumers with disputes, and we license
Kansas Insurance Commissioner
agents.
Within those functions is an inherent mission for
our KID staff and me. We exist as a Kansas regulatory
department for Kansans whose personal lives and
businesses are protected by an insurance policy.
That mission, in order to be successful, can take
many forms. We can—and do—provide outstanding
consumer assistance. We provide a comprehensive
licensing and continuing education service for agents.
And we make sure companies follow solvency and
compliance regulations.
But one aspect that parallels all those department
attributes is the realization that Kansas insurance
consumers constantly need choices when they buy
policies. In order to achieve that, I have made it my
personal mission to introduce myself, our department
and our state to companies who should consider
Kansas as a potential headquarters. Part of the
protection that we can provide insurance consumers
in our state is the idea that competition between
companies is necessary.
Almost every week my calendar contains visits to and
from potential and current company and brokerage
executives. When I meet with company representatives,
I explain to them that the insurance atmosphere for
relocating or expanding their presence in Kansas is
great. Some of the statistics I give them to substantiate
that claim:
•There are more than $250 billion in retirement assets
under management.
•More than 62,000 financial services employees are
located here.
•We have an ongoing educational initiative for
recruiting more employees to the financial services
sector, assisted by the cooperation of several state
higher learning institutions.
•We have an insurance tax and salary credit offered by
state government for insurance companies domiciled
in the state.
I also emphasize that while we are actively seeking
new companies, it is necessary that the competition
be grounded in solid regulation that comes from
legislation designed to benefit both consumers and
businesses. This goes back to our mission of helping
Kansans find the best solutions for their insurance
concerns. Finding that mix can often be elusive, but it
is a standard we strive for.
We always want to emphasize that the agents and
companies already here are a major part of touting
our state’s attributes. With more than 23,000 licensed
agents in Kansas, and another 102,000 that are
nonresident licensees, we can make the case that our
insurance industry is vibrant and growing. And, as
always, KAIA is a big part of that insurance success.
| May - June 2017 | KANSAS INSURANCE AGENT & BROKER
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