ANNUAL AUDIT INFO FOR THE KANSAS SELF-
AS PROVIDED BY THE KANSAS INSURANCE DEPARTMENT THROUGH AN OPEN RECORDS
COMPLETE COPIES OF THE AUDITED FINANCIAL STATEMENTS ARE AVAILABLE TO KAIA MEMBERS AS A FREE SERVICE
Annually , KAIA publishes this comparison of financial information of Kansas self-insured pools based on the audited financial information they provide to the Kansas Insurance Department .
PRIVATE RISK POOLS
Kansas Builders Insurance Group
KS Association of Homes for the Aging
Kansas Auto Dealers Work Comp
Kansas Restaurant & Hospitality
Kansas Employers WC ( unaudited )
REVENUES YEAR END 12 / 31 / 2022 3 / 31 / 2023 12 / 31 / 2022 12 / 31 / 2022 12 / 31 / 2022 Premiums earned $ 9,238,787 $ 2,172,900 $ 3,420,098 $ 2,484,763 $ - Investment income 512,302 157,165 175,802 123,655 215 Realized capital gain ( loss ) Other income 193,518
EXPENSES
Total Revenues 9,944,607 2,330,065 3,595,900 2,608,418 215
Incurred losses / wc claims 5,644,289 549,888 1,518,630 1,411,221 ( 2 ) Claims adjustment 233,449 ( 1 ) Claims management fees 290,709 Administration 748,309 248,230 10,035 Agent commissions 907,358 Premium taxes 214,980 77,028 Insurance taxes Excess insurance prem . 838,066 205,811 246,998 194,186 Other underwriting exp . 188,071 749,523 Other expenses 1,877,475 79,421
Total Expenses 9,482,168 1,737,457 2,569,666 2,434,351 10,032 Net income ( loss ) pre dividends & tax 462,439 592,608 1,026,234 174,067 ( 9,817 ) Dividends Paid Members 448,000 350,006 815,000 Net Income before tax 14,439 242,602 211,234 174,067 ( 9,817 ) Provisions for income tax 3 44,200 34,085
NET INCOME ( LOSS ) 14,442 242,602 167,034 139,982 ( 9,817 ) Change in nonad . assets 25,625 ( 73,859 ) 18,957 Change in reins . provisions Change in net deferred inc . tax 559,884 11,900 Refund of contributions Change in net investments ( 1,117,723 ) 119,993 ( 43,991 ) ( 258,024 )
Prepaid exp ./ prem . assess .
Extraordinary taxes prior - Prior period adjustment Fund balance transfer FUND BALANCE beginning yr 9,393,752 6,813,734 3,362,034 4,396,180 ( 279,195 )
FUND BALANCE end yr $ 8,875,980 $ 7,102,470 $ 3,496,977 $ 4,297,095 $( 289,012 )
16 KANSAS INSURANCE AGENT & BROKER