FROM THE COMMISH
COMMISSIONER ' S LETTER
KANSAS DEPARTMENT OF INSURANCE SUCCESSFULLY PASSES REFORMS DURING 2025 LEGISLATIVE SESSION written by Commissioner Vicki Schmidt, Kansas Insurance Dept.
This year’ s legislative session is in the books, and once again, the Department has been successful in pushing legislation to lower the cost of doing business in Kansas. Every legislative session we look for ways to modernize and the Department while reducing the fees we collect.
The Kansas Department of Insurance( yes, we go by that now) will be working to implement these new laws in the coming months. I want to thank the KAIA membership for your valuable feedback and support this legislative session.
While we did not get everything across the line this year, the KDOI had some major successes that I am pleased to bring to Kansas. Here are some of the highlights:
SB 42 contains provisions that give the Kansas Department of Insurance the authority to establish an insurance verification system that can be utilized by the Kansas Department of Revenue, law enforcement, the court system and county treasurers- all who are required to verify insurance. The new law creates the framework that allows the KDOI to issue a bid for contract with a vendor to create and implement the verification system. The new system will be entirely funded by the KDOI and is required to be in place by July 1, 2026.
HB 2334 reduces the state premium tax levied on insurance carriers to 1.98 % of the total premium written. This tax cut eliminates the portion of the premium tax retained by the Department by an estimated $ 1.8 million.
“ While we did not get everything across the line
this year, the KDOI had some major successes that I am pleased to bring to Kansas.”
HB 2050 eliminates the producer appointment renewal fees, which will reduce revenues coming into the Department by an estimated $ 5.9 million. Further, the new law gives the Commissioner the authority to lower over 100 statutory fees across the entire Department. We hope to have your feedback on this too!
32 KANSAS INSURANCE AGENT & BROKER