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 / 2023 3 / 31 / 2024 12 / 31 / 2023 12 / 31 / 2023 12 / 31 / 2023 Premiums earned $ 9,635,802 $ 2,337,149 $ 3,340,381 $ 2,380,655 $ - Investment income 935,734 293,191 354,279 137,455 125 Realized capital gain ( loss ) Other income 236,237 13,286
EXPENSES
Total Revenues 10,807,773 2,630,340 3,694,660 2,531,396 125
Incurred losses / wc claims 4,392,392 1,305,712 1,588,110 2,110,637 ( 31,337 ) Claims adjustment 361,644 - Claims management fees 283,933 Administration 700,400 235,559 31,156 Agent commissions 961,508 Premium taxes 41,342 47,671 Insurance taxes Excess insurance prem . 860,028 224,701 246,678 200,839 Other underwriting exp . 200,903 814,548 Other expenses 2,143,333 208,833
Total Expenses 8,398,603 2,592,457 2,602,854 3,334,857 ( 181 ) Net income ( loss ) pre dividends & tax 2,409,170 37,883 1,091,806 ( 803,461 ) 306 Dividends Paid Members 9,118,601 249,999 950,000 Net Income before tax ( 6,709,431 ) ( 212,116 ) 141,806 ( 803,461 ) 306 Provisions for income tax 73,400 ( 173,587 )
NET INCOME ( LOSS ) ( 6,709,431 ) ( 212,116 ) 68,406 ( 629,874 ) 306 Change in nonad . assets ( 204 ) ( 56,851 ) ( 55,650 ) Change in net deferred inc . tax ( 43,343 ) 36,300 Change in net investments 21,016 469,041 22,802 111,189 Other surplus adjustments ( 2,144,018 ) FUND BALANCE beginning yr 8,875,980 7,056,336 3,496,977 4,297,095 ( 289,012 )
FUND BALANCE end yr $ - $ 7,256,410 $ 3,624,485 $ 3,722,760 $( 288,706 )
6 KANSAS INSURANCE AGENT & BROKER