I hope this is helpful in reducing the financial barriers to the industry . I wish you all a wonderful holiday season , and please stay tuned to see what else the Department has planned for the new year . •
FROM THE COMMISH
LICENSING FEES REDUCED FOR 2024
CHANGE FOLLOWS PASSAGE OF HB 2090 written by Commissioner Vicki Schmidt , Kansas Insurance Dept .
When I started my second term as Commissioner this year , I made it my goal to continue building upon my mission of right-sizing the Insurance Department ’ s operations and lowering the cost of doing business in Kansas .
As we wind down on 2023 , I am pleased to announce that the Department will lower new resident and nonresident licensing fees by over $ 1.2 million dollars , starting next year . agenda , the Department will be exploring legislation to give us the authority to lower even more fees . I will continue to look for ways to reduce the cost of doing business in Kansas while right-sizing the operations at the Department .
I hope this is helpful in reducing the financial barriers to the industry . I wish you all a wonderful holiday season , and please stay tuned to see what else the Department has planned for the new year . •
Resident agent and agency application fees will be reduced from $ 30 to $ 15 , and non-resident agent and agency fees will be reduced from $ 80 to $ 50 . The new rates will take effect January 1 , 2024 and will be posted on the Department ’ s website and the National Insurance Producer Registry ( NIPR ) application .
Last year , the Department introduced and the Legislature passed HB 2090 , which gave the Department the authority to lower licensing fees below what is set in statute . The Department received over 43,000 new resident and non-resident applications last year .
But we won ’ t stop there . For our 2024 legislative
“... the Department will lower new resident and non-resident
licensing fees by over $ 1.2M dollars , starting next year .”
50 KANSAS INSURANCE AGENT & BROKER