FROM THE COMMISH
MARCH MADNESS
THE KANSAS LEGISLATURE EDITION written by Commissioner Vicki Schmidt , Kansas Insurance Dept .
March Madness is upon us . But I ’ m not talking about basketball — the Kansas Legislative session is in full swing . The Kansas Department of Insurance has a full roster of bills this year that is advancing through the legislative process . This year ’ s agenda is once again aimed at cutting costs , increasing efficiencies , and protecting consumers .
• But before we get to the second half , let ’ s look at some of the highlights from last year :
• Reduced insurance agent / agency licensing fees by $ 1.2 million annually to reduce the financial barrier to licensure .
• Eliminated certain group-funded pool assessments , returning roughly $ 150,000 to the pools .
• Overhauled the operations of the Kansas Automobile Insurance Plan , saving the industry a minimum of $ 300,000 annually .
“ I am committed to lowering the cost of
doing business in Kansas , and these bills would allow us to go even further ...”
The Department ’ s agenda this year seeks to build upon these successes . The 2024 legislative agenda features proposals to partner with industry to create regulatory certainty , reduce the size of government , protect vulnerable adults , reduce fees , and clean up the insurance and securities statutes .
This year we are expanding upon the $ 1.2 million in fee reductions . With the success of the fee bill passed last year , the Department has introduced bills that would expand the ability to lower over 100 fees issued by the Department . As you have probably heard me say , I am committed to lowering the cost of doing business in Kansas , and these bills would allow us to go even further in lowering fees across all parts of the Department .
34 KANSAS INSURANCE AGENT & BROKER