INSURANCE DEPARTMENT CELEBRATES 150 YEARS
By : Commissioner Vicki Schmidt
The Kansas Insurance Department was established by the Legislature on March 1 , 1871 , making March 1 , 2021 , the 150th Anniversary of the Kansas Insurance Department .
There have been 26 Commissioners to lead the Department , including me . Although , they haven ’ t always been called Commissioner , and they haven ’ t always been elected . From 1871 to 1927 , the leaders of the Department were known as Superintendents . In addition , elections began in 1900 . Each Commissioner has left their mark on the Department , but the Department ’ s lasting legacy remains its unwavering service to Kansas consumers .
The mission of the Kansas Insurance Department is to Regulate . Educate . Advocate . Each of those has taken on a new meaning as the Department has evolved .
Regulate . Many people don ’ t realize that insurance is regulated at the state level instead of the federal level , which means the Department is responsible for regulating the agents and companies that call Kansas home . Our regulatory footprint expanded in 2017 , when we also became home to the Office of the Kansas Securities Commissioner and now oversee the regulation of securities , broker-dealer agents , investment advisor representatives , and their firms .
Educate . This is a core function of the Department , whether we are talking to consumers , agents or companies . Learning helps us all do our jobs better . We must never stop educating consumers on things to be aware of ; insurance agents , investment adviser representatives , and broker-dealer agents on updated laws ; agencies and firms on updated practices ; and companies on regulatory requirements .
Advocate . I have found there are times where consumers , agents , and companies all need an advocate . The Department serves as that critical voice when consumers dispute with insurance companies , when agents have disputes with companies , and when Kansas companies need a voice at the national level .
Kansas also served as one of the 30 founding members of the National Association of Insurance Commissioners , an association representing the 50 states , five territories , and the District of Columbia . The NAIC is also celebrating its 150th Anniversary this year !
I would personally like to thank the Department ’ s many industry partners , agents , Kansas companies , leaders , and associations for your cooperation over the past 150 years . You have played an essential role in making the Kansas Insurance Department a better regulator for the industry and the people we both serve .
Kansas Insurance Commissioner Vicki Schmidt is both a lifelong Kansan and Republican . She worked for more than 40 years serving Kansas families and seniors as a local pharmacist . It was her pharmacy experience and commitment to bettering Kansas that drew her to run for the Legislature . Vicki became the voice for reform . She represented Shawnee and Wabaunsee counties for 14 years , including six as the Chair of the Senate Public Health and Welfare Committee . On Nov . 6 , 2018 , Vicki was elected as Kansas Insurance Commissioner . She became the first pharmacist to serve as Kansas Insurance Commissioner and is the only pharmacist in America to hold a statewide office .
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