reglab/statecodes huggingface dataset:
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 1 - GENERAL › Section 40-1-39 - Insurance; endorsements and riders; change in coverage; consent of policyholder

Current through Register Vol. 43, No. 28, July 11, 2024
(a) No company, or
			 company representative shall be permitted to add coverage to new, renewal, or
			 existing policies if the insured or policyowner has not consented to additional
			 coverage.
(b) This regulation does
			 not apply if a coverage addition is:
(1)
			 Provided without any additional premium charge;
(2) mandated by law; or
(3) required by filings approved for the
			 company's use.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 1 - GENERAL › Section 40-1-41 - Insurance companies; managing general agents; management agreements or contracts; definitions; requirements; prohibitions

Current through Register Vol. 43, No. 28, July 11, 2024
(a) This regulation
			 shall:
(1) Apply to managing general agents
			 as defined by K.S.A. 1992 Supp.
			 40-2,130; and
(2) not apply to administrators holding a
			 certificate of registration pursuant to
			 K.S.A.
			 40-3810, as amended.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 1 - GENERAL › Section 40-1-42 - Electronic filing and filing financial statements

Current through Register Vol. 43, No. 28, July 11, 2024
(a) "Insurer," as
			 used in this regulation, shall mean the following entities that are operating
			 under the designated articles of chapter 40 of the Kansas statutes annotated
			 and amendments thereto:
(1) An insurance
			 company operating under article 3, 4, 5, 6, 8, 9, 10, 11, 12, 12a, 13, 15, or
			 35;
(2) a fraternal benefit
			 society operating under article 7;
(3) a reciprocal operating under article 16;
(4) a nonprofit dental service
			 corporation operating under article 19a;
(5) a nonprofit medical and hospital service
			 corporation operating under article 19c; and
(6) a health maintenance organization
			 operating under article 32.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 1 - GENERAL › Section 40-1-43 - Reinsurance trust instruments; letters of credit

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Sections 10 and
			 11 of the national association of insurance commissioners' "credit for
			 reinsurance model regulation," January 1997 edition, with amended pages 5
			 through 22 dated July 2001, are adopted by reference, subject to the following
			 exceptions:
(1) In section 10(B)(1), delete
			 "Section [insert citation to state law equivalent to Section 4B of the Credit
			 for Reinsurance Model Law]," and replace it with "K.S.A.
			 40-221a and amendments thereto."
(2) In section 10(B)(11)(c), delete "Section
			 [insert citation to state law equivalent of Section 4B of the Credit for
			 Reinsurance Model Law]," and replace it with "K.S.A.
			 40-221a and amendments thereto."
(3) Section 10(D)(4) is not adopted by
			 reference.
(4) In section 11(A),
			 delete "Section [insert citation to state law equivalent of Section 4A of the
			 Credit for Reinsurance Model Law]," and replace it with "K.S.A.
			 40-221a and amendments thereto."
(5) In section 11(G), delete "Section [insert
			 citation to state law equivalent to 4A of the Credit for Reinsurance Model
			 Law]," and replace it with "K.S.A. 40-221a and
			 amendments thereto."
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 1 - GENERAL › Section 40-1-44 - Actuarial opinions and memorandums

Current through Register Vol. 43, No. 28, July 11, 2024
The Kansas insurance department's "policy and procedure
				relating to actuarial opinions and memorandums," dated July 9, 2004, is hereby
				adopted by reference.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 1 - GENERAL › Section 40-1-45 - Release of data from the insurance database

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Although the
			 data collected by and furnished to the commissioner of insurance pursuant to
			 K.S.A.
			 40-2251, and amendments thereto, is not an
			 open record pursuant to K.S.A. 1997 Supp.
			 45-221(16), and
			 amendments thereto, compilations of this data may be released, subject to the
			 following limitations.
(1) These reports
			 shall include comparative information on averages of data collected.
			 Compilations of data shall not contain patient-identifying information or trade
			 secrets.
(2) The raw data shall be
			 released by the commissioner of insurance only to each data provider that has
			 submitted that particular data to the database and that requests to see and
			 review its dataset for purposes of verifying information in the database
			 pertaining to that data provider. These datasets shall not be made available to
			 the public.
(3) External data used
			 for normative values that are not within the public domain shall not be
			 released.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 1 - GENERAL › Section 40-1-46 - Privacy of consumer financial and health information

Current through Register Vol. 43, No. 28, July 11, 2024
The national association of insurance commissioners' "privacy
				of consumer financial and health information regulation," as adopted by the
				national association of insurance commissioners on September 26, 2000, is
				hereby adopted by reference subject to the following exceptions: Sections 1 and
				24 are not adopted by reference. This amended regulation shall be effective on
				and after February 1, 2002.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 1 - GENERAL › Section 40-1-47 - Insurance companies; deposits; requirements

Current through Register Vol. 43, No. 28, July 11, 2024
(a) For the
			 purposes of this regulation, the following terms shall be defined as follows:
(1) "Custodial account" means an account
			 established by written agreement between a company and a custodian pursuant to
			 K.S.A.
			 40-229a and amendments thereto.
(2) "Custodial agreement" means a written
			 agreement entered into between a company and a custodian pursuant to
			 K.S.A.
			 40-229a and amendments thereto.
(3) "Custodian" means an institution meeting
			 the requirements of subsection (b) of this regulation that has entered into a
			 custodial agreement with a company.
(4) "Custodied securities" means securities
			 held by the custodian or held for the account of the custodian in an authorized
			 clearing corporation, in the federal reserve bank book-entry system, or in a
			 United States bank.
(5)
			 "Securities" means all assets that may be used to satisfy the deposit
			 requirements of
			 K.S.A.
			 40-229a and amendments thereto, including
			 mortgages, certificates of deposit, cash, securities of the kind or character
			 in which the company is allowed to invest its funds, and investment income due
			 and accrued on custodied securities that are not in default. "Securities" shall
			 not include real estate, other than the company's interest as a mortgagee or
			 secured party.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 1 - GENERAL › Section 40-1-48 - Risk-based capital instructions for health organizations

Current through Register Vol. 43, No. 28, July 11, 2024
The following document prepared by the national association of
				insurance commissioners is hereby adopted by reference: "2016 NAIC health
				risk-based capital report including forecasting and instructions for companies
				as of December 31, 2016," including the appendices and excluding the unnumbered
				page titled "companion products" and the preceding unnumbered page; the NAIC
				health risk-based capital newsletter, volume 18.1, dated August 2016; pages i
				through iii; pages 18 through 24 titled "underwriting risk - XR012-A (for
				informational purposes only)"; pages 36 and 37 titled "operational risk
				informational section instructions (for informational purposes only) XR022";
				the last sentence on page 40; page XR012-A titled "underwriting risk (for
				informational purposes only) experience fluctuation risk"; page XR022 titled
				"operational risk XR022 (for informational purposes only)"; the health
				risk-based capital forecasting spreadsheet instructions; and the "health
				forecasting" CD-ROM attached to the inside back cover.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 1 - GENERAL › Section 40-1-49 - Stop loss or excess loss insurance; policy standards

Current through Register Vol. 43, No. 28, July 11, 2024
(a) As used in
			 these regulations, these terms shall have the following meanings:
(1) "Aggregate attachment point" means the
			 dollar amount per plan beyond which the carrier issuing the policy assumes some
			 or all of the plan's liability for payment of covered services or benefits.
(2) "Expected claims" means the
			 amount of covered claims under the plan that is projected to be incurred by a
			 policyholder under the plan.
(3)
			 "Specific attachment point" means the dollar amount per person or participant,
			 for each policy year beyond which the carrier issuing the insurance coverage
			 assumes some or all of the plan's liability for payment of covered services or
			 benefits.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 1 - GENERAL › Section 40-1-50 - Insurance scoring; definitions; requirements

Current through Register Vol. 43, No. 28, July 11, 2024
(a) As used in this
			 regulation and
			 K.S.A.
			 40-5101 through
			 K.S.A.
			 40-5114 and amendments thereto, these terms
			 shall have the following meanings:
(1)
			 "Farmowner insurance policy" means a policy that provides coverage for a
			 dwelling and its contents, barns, stables, and other buildings. This term shall
			 include liability coverage.
(2)
			 "Insurer" means an insurance company.
(3) "Policy" means any personal insurance or
			 individual farmowner insurance policy.
(4) "Premium charge" means the payment
			 required for an insurance policy as determined by rates and rating factors.
(5) "Rerate" means to calculate
			 premiums based on rates, rating factors, or rating procedures filed with the
			 Kansas insurance department as required by
			 K.S.A.
			 40-951 through
			 K.S.A.
			 40-967 and amendments thereto.
(6) "Reunderwrite" means to reexamine
			 insurance risks to determine whether or not to renew policies.
(7) "Third party" means any person or entity
			 that creates an insurance score.
(8) "Underwriting" means examining,
			 accepting, or rejecting insurance risks.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 1 - GENERAL › Section 40-1-53 - Suitability in annuity transactions

Current through Register Vol. 43, No. 28, July 11, 2024
The Kansas insurance department's "policy and procedure
				regarding suitability in annuity transactions," including the appendices, dated
				January 10, 2023, is hereby adopted by reference. This regulation shall be
				effective on and after January 1, 2024.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 1 - GENERAL › Section 40-1-54 - Pharmacy benefits manager; network adequacy report

Current through Register Vol. 43, No. 28, July 11, 2024
Each applicant for license to act as a pharmacy benefits manager
				shall submit a network adequacy report to the commissioner with the application that
				contains the following information:
(a) The
			 name and address of the pharmacy benefits manager;
(b) the name, telephone number, and
			 electronic-mail address of the contact person responsible for the license of the
			 pharmacy benefits manager;
(c) the name
			 of each network administered in Kansas by the applicant;
(d) the number of counties and a list of the
			 counties in each service area;
(e) the
			 number of afliated pharmacies in Kansas that are in the applicant's
			 networks;
(f) the number of independent
			 pharmacies in Kansas that are in the applicant's networks;
(g) the number of complaints submited by
			 pharmacies concerning the applicant's network that the applicant has received in the
			 previous 12 months. "Complaints" shall include complaints submited in writing, by
			 phone, by electronic mail, or by other electronic means;
(h) the number of complaints submited by patients
			 concerning the applicant's network that the applicant has received in the previous
			 12 months. "Complaints" shall include complaints submited in writing, by phone, by
			 electronic-mail, or by other electronic means; and
(i) a writen narrative that meets the following
			 requirements:
(1) Describes the process for
			 determining the reasonableness of patient access to a pharmacy based on distance
			 from the patient's residence, including whether any afliates are included in the
			 calculation of distance between patient residence and pharmacy, and a description of
			 how mail-order and physical store locations are factored into the reasonableness
			 determination;
(2) specifes whether the
			 applicant's contracts require patients to use pharmacies that are directly or
			 indirectly owned by the applicant and any requirements for new prescriptions,
			 reflls, or specialty drugs, regardless of days supply;
(3) specifes whether the applicant imposes limits,
			 including quantity limits or refll limits, on an independent pharmacy's access to
			 medications that difer from the limits imposed on the applicant's
			 afliates;
(4) specifes how the
			 applicant's certifcation or accreditation requirements are used as a determinant of
			 network participation;
(5) specifes how
			 often certifcation or accreditation requirements are changed;
(6) specifes whether there are diferent standards
			 for independent pharmacies and afliates of the applicant and how these diferent
			 standards are applied; and
(7) describes
			 any subnetworks for specialty drugs.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 2 - LIFE INSURANCE › Section 40-2-7 - Life insurance companies and fraternal benefit associations; lapse of policies providing for automatic term insurance or fractional paid-up insurance; notice to policyholders required

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Each life
			 insurance company and fraternal benefit association writing contracts of
			 insurance on Kansas citizens shall give written notice to its insureds upon the
			 lapse of any insurance policy which provides for either automatic term
			 insurance or fractional paid-up insurance.
(b) The following rules of notice shall be
			 observed:
(1) The notice shall be sent to
			 residents of Kansas only.
(2) The
			 notice shall be sent within six months after the due date of the premium in
			 default.
(3) The notice shall be
			 sent only if paid-up or extended insurance value was available at date of
			 lapse.
(4) A notice regarding
			 lapse of industrial insurance shall be sent only if the premiums have been paid
			 for three years or more.
(5) The
			 notice shall show the amount of fractional paid-up insurance.
(6) A notice regarding lapse of extended term
			 insurance need not show the amount of insurance. However, the notice shall
			 show:
(A) The date of expiration; or
(B) the date of lapse and period
			 of extension.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 2 - LIFE INSURANCE › Section 40-2-8 - Life insurance policies; premium deposit fund provisions; requirements

Current through Register Vol. 43, No. 28, July 11, 2024
Premium deposit fund provisions shall not be included in or
				attached to life insurance contracts issued in this state unless:
(a) The provisions allow withdrawal of all or
			 any part of the fund at the request of the policy owner; and
(b) the withdrawal may be effected not later
			 than the next succeeding policy anniversary date.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 2 - LIFE INSURANCE › Section 40-2-9 - Life insurance companies; extra premium payments; limits

Current through Register Vol. 43, No. 28, July 11, 2024
Premium deposit fund provision and other funds which provide
				for extra premium payments exceeding the cost of insurance, shall be limited to
				an amount which, together with the policy reserve, would pay the net single
				policy premium. An insurance company authorized to do business in the state of
				Kansas shall not be authorized to accept an excess payment.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 2 - LIFE INSURANCE › Section 40-2-10 - Same; deficiency reserves; requirements

Current through Register Vol. 43, No. 28, July 11, 2024
Any life insurance company may establish deficiency reserves
				when gross premium charges are less than net premiums. However, the company
				shall give the department a complete description of the reserve establishment.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 2 - LIFE INSURANCE › Section 40-2-11 - Life insurance policies; wholesale or franchise plan; requirements

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Definitions.
(1) "Wholesale" or "franchise" insurance
			 means a life insurance plan under which a number of individual life insurance
			 policies are issued at special rates to a group of five or more persons.
(2) "Special rate" means any rate
			 lower than the rate shown in the issuing insurance manual for individual
			 policies of the same type and class.
(3) "Employee" means the officers, managers,
			 employees, and retired employees of the employer and the individual proprietor
			 or partner, if the employer is an individual proprietorship or partnership.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 2 - LIFE INSURANCE › Section 40-2-12 - Replacement of life insurance and annuities

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Definitions.
(1) "Agent" means each agent, broker, or
			 other person representing an insurer in the sale of any type of policy.
(2) "Company" or "insurer" means
			 each company, society, association or other financial institution which issues
			 a policy subject to the supervision of the Kansas insurance department.
(3) "Life insurance" means each
			 life insurance policy, annuity, or variable annuity contract, unless
			 specifically exempted in subsection (b).
(4) "Substantial cash values" means each
			 transaction in which an amount exceeding 50 percent of the tabular cash value
			 may be released on one or more of the existing policies.
(5) "Substantial borrowings" means each
			 transaction in which an amount exceeding 50 percent of the tabular cash value
			 may be borrowed on one or more existing policies.
(6) "Securities," as used in this regulation,
			 shall not include any insurance or endowment policy, or annuity contract under
			 which an insurance company promises to pay a fixed or variable sum of money
			 either in a lump sum or periodically for life or for some other specified
			 period.
(7) "Replacement" means
			 each transaction in which new life insurance may be purchased from an agent who
			 knows, or reasonably should know that, as a part of the transaction or in
			 consequence of it, a previously existing life insurance has been or is likely
			 to be:
(A) Lapsed or surrendered;
(B) converted into paid-up insurance,
			 continued as extended term insurance or another form of non-forfeiture benefit;
(C) converted to effect a
			 reduction either in the amount of the existing life insurance, or in the period
			 of time the existing life insurance will continue in force;
(D) reissued with a reduction in amount so
			 that substantial cash values are released; or
(E) assigned as collateral for a loan or
			 subjected to substantial borrowing of loan values in single or multiple
			 transactions.
(8)
			 "Sales proposal" means individualized, written sales aids. Sales aids of a
			 general nature, which are maintained in the insurer's advertising compliance
			 file, shall not be considered a sales proposal.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 2 - LIFE INSURANCE › Section 40-2-13 - Life insurance policies; promissory notes and installment contracts; college students; requirements

Current through Register Vol. 43, No. 28, July 11, 2024
In addition to the provisions of
				K.S.A.
				40-283a, the following requirements shall
				apply to premium financing arrangements between an insuror or agent and the
				insured for the first premium payable on any life insurance policy sold to any
				college student.
(a) Each premium
			 financing arrangement shall be set out in the application over the applicant's
			 signature and shall include the total amount of the loan, the amount of any
			 down payment made to an agent at the time of sale, and the unpaid balance.
(b) If a note or installment
			 contract is used to finance less than the full first year premium, the balance
			 shall be paid by the applicant when the application is taken.
(c) A copy of the note or installment
			 contract and any assignment shall be attached to the policy. In lieu of
			 attachment, the policy may contain a provision or endorsement which describes
			 the financing arrangement.
(d)
			 Upon delivery, a policy receipt or acceptance form shall be executed which
			 states that:
(1) The policy has been issued
			 as represented; and
(2) The
			 insured acknowledges and understands the provisions and obligations of the
			 financial indebtedness incurred.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 2 - LIFE INSURANCE › Section 40-2-15 - Individual life insurance policies; right to return policy

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Each individual
			 life insurance policy and annuity contract issued for delivery in this state
			 shall contain a notice.
(b) The
			 notice shall be printed on or attached to the first page of the policy. The
			 notice shall be printed in not less than 10 point type and shall be printed in
			 a bold face type or in some other manner that distinguishes it from the print
			 otherwise appearing in the policy. It shall state that the person to whom the
			 policy is issued shall be permitted to return the policy or contract within at
			 least 10 days of its delivery to the purchaser and, except with respect to
			 variable annuity contracts and variable life insurance policies as defined in
			 K.A.R. 40-15-1 and K.A.R. 40-15a-1 respectively, have the total premium paid
			 refunded if the purchaser is not satisfied. With respect to variable annuity
			 contracts and variable life insurance policies, the person to whom the policy
			 is issued shall be entitled to a premium refund equal to the sum of:
(1) The difference between the premiums paid,
			 including any policy fees or other charges and the amounts allocated to any
			 separate accounts under the policy; and
(2) the value of the amounts allocated to any
			 separate accounts under the policy on the date the returned policy is received
			 by the insurer or its agent.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 2 - LIFE INSURANCE › Section 40-2-16 - Life insurance and annuities; mortality tables; sexual distinctions; permits and prohibitions

Current through Register Vol. 43, No. 28, July 11, 2024
(a) For each policy
			 of life insurance delivered or issued for delivery in this state, the blended
			 1980 CSO and CET mortality tables A through G, adopted December 1983 and tables
			 SA through SG and NA through NG adopted December 1986 by the national
			 association of insurance commissioners, may be substituted for the 1980 CSO or
			 CET table, with or without ten-year select mortality factors.
(b) It shall not be a violation of
			 K.S.A.
			 40-2404(7) for an insurer to
			 issue the same type of life insurance policy on both a sex-distinct and
			 sex-neutral basis.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 2 - LIFE INSURANCE › Section 40-2-17 - Life insurance and annuities; mortality tables; smokers and nonsmokers; permits and prohibitions

Current through Register Vol. 43, No. 28, July 11, 2024
The national association of insurance commissioners' model
				regulation permitting smoker-non-smoker mortality tables, December 1983
				edition, is adopted by reference subject to the following exceptions:
(a) Sections 1, 2, 6 and 7 are not adopted;
			 and
(b) Section 4 is amended by
			 the addition of "428 of chapter 40, Kansas statutes annotated" immediately
			 following the word "section" in paragraph A.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 2 - LIFE INSURANCE › Section 40-2-18 - Annuities; mortality tables; permits; effective dates

Current through Register Vol. 43, No. 28, July 11, 2024
The Kansas insurance department's "policy and procedure
				recognizing a new annuity mortality table for use in determining reserve
				liabilities for annuities," dated January 29, 2016, including the appendices,
				is hereby adopted by reference.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 2 - LIFE INSURANCE › Section 40-2-19 - Kansas life and health insurance guaranty association act; notice to policyholders; requirements

Current through Register Vol. 43, No. 28, July 11, 2024
(a) The disclaimer
			 required by L. 1986, Ch. 180, Sec. 15(c) shall be printed in bold face type and
			 included on the face page of the summary document required by L. 1986, Ch. 180,
			 Sec. 15(b). The disclaimer shall be entitled, "Disclaimer", and shall contain
			 the following statements:
(1) the policy or
			 contract, or a portion of it, may not be covered by the Kansas life and health
			 insurance guaranty association;
(2) even if coverage is available for a
			 portion of the policy, coverage is subject to significant limitations and
			 exclusions and is conditioned upon continued residency in this state;
(3) the Kansas life and health
			 insurance guaranty association or the Kansas insurance department will respond
			 to any questions regarding the extent of coverage, if any, under the Kansas
			 life and health insurance guaranty fund. The addresses of the association and
			 insurance department shall follow this statement;
(4) the insurance company and agent are
			 prohibited by law from using the existence of the Kansas life and health
			 insurance guaranty association or its coverage to sell an insurance policy or
			 contract; and
(5) the policy or
			 contract holder should not rely on coverage from the Kansas life and health
			 insurance guaranty association when selecting an insurance company.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 2 - LIFE INSURANCE › Section 40-2-20 - Life insurance; accelerated benefits; contract requirements and restrictions

Current through Register Vol. 43, No. 28, July 11, 2024
(a) As used in this
			 regulation or in a life insurance or annuity contract providing for accelerated
			 benefits, each of the following terms shall have the meaning specified in this
			 subsection:
(1) "Accelerated benefits" means
			 benefits that meet the following conditions:
(A) Are payable under an individual or group
			 life insurance or annuity contract to a policyowner or certificate holder
			 during the lifetime of the insured for the occurrence of a qualifying
			 condition;
(B) reduce the death or
			 annuity benefit otherwise payable under the contract; and
(C) are payable upon the occurrence of a
			 qualifying condition, which results in the payment of a benefit amount fixed at
			 the time of acceleration.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 2 - LIFE INSURANCE › Section 40-2-23 - Life insurance; preneed funeral contracts or arrangements; disclosure; requirements

Current through Register Vol. 43, No. 28, July 11, 2024
(a) This regulation
			 shall apply to any solicitation, negotiation or procurement occurring within
			 this state with respect to life insurance or annuity contracts used to fund a
			 preneed funeral contract or arrangement. As used in this regulation, the term
			 "preneed funeral contract or arrangement" shall mean an agreement by or for an
			 individual before that individual's death relating to the purchase or provision
			 of specific funeral or cemetery merchandise or services.
(b) The following information shall be
			 adequately disclosed at the time an application is made, prior to accepting the
			 applicant's initial premium, for a preneed funeral contract or arrangement:
(1) The fact that a life insurance policy or
			 annuity contract is involved or being used to fund a preneed funeral contract
			 or arrangement;
(2) the nature of
			 the relationship between the soliciting agent or agents, the provider of the
			 funeral or cemetery merchandise or services, the administrator and any other
			 person. This requirement shall not apply to officers, directors or bonafide
			 employees of the funeral home or cemetery to which the original preneed funeral
			 contract or arrangement applies;
(3) the relationship of the life insurance
			 policy or annuity contract to the funding of the preneed funeral contract or
			 arrangement and the nature and existence of any guarantees relating to such
			 contract or arrangement;
(4) the
			 impact on the preneed funeral contract or arrangement:
(A) Of any changes in the life insurance
			 policy or annuity contract including but not limited to, changes in the
			 assignment, beneficiary designation or use of the proceeds;
(B) of any penalties to be incurred by the
			 policyholder as a result of failure to make premium payments; and
(C) of any penalties to be incurred or monies
			 to be received as a result of cancellation or surrender of the life insurance
			 policy or annuity contract;
(5) a list of the merchandise and services
			 which are applied or contracted for in the preneed funeral contract or
			 arrangement and all relevant information concerning the price of the funeral
			 services, including a clear disclosure that the purchase price is either
			 guaranteed at the time of purchase or to be determined at the time of need;
(6) all relevant information
			 concerning what occurs and whether any entitlements or obligations arise if
			 there is a difference between the proceeds of the life insurance policy or
			 annuity contract and the amount actually needed to fund the preneed funeral
			 contract or arrangement; and
(7)
			 any penalties or restrictions, including but not limited to geographic
			 restrictions or the inability of the provider to perform, on the delivery of
			 merchandise, services or the preneed funeral contract or arrangement guarantee.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 2 - LIFE INSURANCE › Section 40-2-25 - Life insurance illustrations

Current through Register Vol. 43, No. 28, July 11, 2024
The national association of insurance commissioners' "life
				insurance illustrations model regulation," January 1996 edition, is hereby
				adopted by reference, subject to the following alterations.
(a) Section 3(E) shall be inserted and shall
			 read as follows:
"If a policy change requiring underwriting or a sales effort is
				made to a policy issued prior to the effective date of this regulation and that
				policy change involves use of a presentation or depiction that includes
				non-guaranteed elements of that policy of life insurance over a period of
				years, the scale used in the presentation or depiction shall not be greater
				than the currently payable scale for that block of business. If no presentation
				or depiction of non-guaranteed elements is used for such policy change, the
				producer or representative shall certify to that effect in writing on a form
				provided by the insurer. On the same form, the policyowner shall acknowledge
				that presentation or depiction was not used."
(b) The text of Section 10(A)(1)(g) shall be
			 deleted, and the following new language shall be inserted in its place:
"The projected termination date of the policy, based on
				guaranteed assumptions:
For fixed premium policies, this date is when the policy's net
				cash surrender value is such that it would not maintain the insurance in force,
				assuming guaranteed interest, mortality and expense loads, and continued
				scheduled premiums; or
For flexible premium policies, this date is when the policy's
				net cash surrender value is such that it would not maintain the insurance in
				force, assuming guaranteed interest, mortality and expense loads, and no
				further premium payments."
(c) Section 10(A)(1)(h) shall be deleted.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 2 - LIFE INSURANCE › Section 40-2-26 - Valuation of life insurance policies

Current through Register Vol. 43, No. 28, July 11, 2024
Section one, sections three through seven, and the appendix of
				the national association of insurance commissioners' "valuation of life
				insurance policies model regulation," 2003 edition, are hereby adopted by
				reference, with the following exception: subsection 4A, 4C(1), 4E, and 5F are
				amended by replacing the bracketed text with the following phrase:
				"K.S.A.
				40-409 and amendments thereto."
(Authorized and implementing
				K.S.A.
				40-103 and
				40-409; effective Dec. 29, 1997;
				amended Jan. 1, 2000; amended Feb. 20, 2004.)
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 2 - LIFE INSURANCE › Section 40-2-27 - Minimum reserve liabilities and nonforfeiture benefits

Current through Register Vol. 43, No. 28, July 11, 2024
Sections three through seven of the national association of
				insurance commissioners' "recognition of the 2001 CSO mortality table for use
				in determining reserve liabilities and nonforfeiture benefits model
				regulation," January 2003 edition, are hereby adopted by reference for use in
				determining the minimum standard of valuation for life insurance policies, with
				the following exceptions:
(a)
			 Subsection 4A is amended by replacing the phrase "January 1, 200[ ]" and the
			 bracketed text that immediately follows with the following phrase: "the
			 effective date of this regulation." Subsection 4A is amended further by
			 replacing the next bracketed text with the following phrase: "K.S.A.
			 40-409(d)(1)(i) and (iii)
			 and amendments thereto, 40-428(d-3)(8)(F) and amendments thereto, and
			 subsections 5A and 5B of the model regulation adopted by reference in K.A.R.
			 40-2-26."
(b) Subsection 4B is
			 amended by replacing the bracketed text with the following phrase:
			 "K.S.A.
			 40-409(d)(i) and (iii) and
			 amendments thereto, 40-428(d-3)(8)(F) and amendments thereto, and subsections
			 5A and 5B of the model regulation adopted by reference in K.A.R. 40-2-26."
(c) Subsection 5A(2) is amended by
			 replacing the bracketed text and the word "Section" immediately preceding the
			 bracketed text with the following phrase: "K.S.A.
			 40-409(d)(5) and amendments
			 thereto."
(d) Subsection 5C is
			 amended by replacing the bracketed text with the following phrase: "Subsection
			 6C of the model regulation adopted by reference in K.A.R. 40-2-26."
(e) Subsection 5D is amended by replacing the
			 first bracketed text and the word "Sections" immediately preceding the
			 bracketed text with the following phrase: "Section 5A of the model regulation
			 adopted by reference in K.A.R. 40-1-44."
(f) The title of Section 6 is amended by
			 replacing the bracketed text with the following phrase: "the valuation of life
			 insurance policies regulation, K.A.R. 40-2-26."
(g) Subsection 6A is amended by replacing
			 each bracketed text with the following phrase: "the valuation of life insurance
			 policies regulation, K.A.R. 40-2-26."
(h) Subsection 7A is amending by replacing
			 the phrase "January 1, 200[ ]" and the bracketed text that immediately follows
			 with the following phrase: "the effective date of this regulation."
(i) Subsection 7C is amended by replacing the
			 bracketed text with the following phrase: "K.S.A.
			 40-2404 and amendments thereto."
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 2 - LIFE INSURANCE › Section 40-2-28 - Preneed insurance contracts; minimum standards for determining reserves

Current through Register Vol. 43, No. 28, July 11, 2024
The Kansas insurance department's "policy and procedure
				pertaining to preneed life insurance minimum standards for determining reserve
				liabilities and nonforfeiture values," except section 1, dated November 25,
				2008, is hereby adopted by reference.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 2 - LIFE INSURANCE › Section 40-2-29 - Life insurance; valuation of credit life insurance policies

Current through Register Vol. 43, No. 28, July 11, 2024
The Kansas insurance department's "policy and procedure
				regarding determining reserve liabilities for credit life insurance," dated
				August 23, 2007, including the appendix, is hereby adopted by reference.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 2 - LIFE INSURANCE › Section 40-2-31 - Minimum requirements for viaticating a policy

Current through Register Vol. 43, No. 28, July 11, 2024
(a) As used in this
			 regulation, each of the following terms shall have the meaning specified in this
			 subsection:
(1) "Insured" means the person covered
			 under a policy being considered for viatication.
(2) "Life expectancy" means the average number of
			 months that the insured can be expected to live as determined by the viatical
			 settlement provider, as defined in K.S.A. 40-5002  and amendments thereto,
			 considering medical records and appropriate experiential data.
(3) "Policy" has the meaning specified in K.S.A.
			 405002, and amendments thereto.
(4)
			 "Viaticating a policy" means selling a policy to a viatical settlement provider
			 pursuant to a viatical settlement contract.
(5) "Viator" has the meaning specified in K.S.A.
			 405002, and amendments thereto.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 3 - FIRE AND CASUALTY INSURANCE › Section 40-3-1 - Insurance companies; capital, surplus and deposit requirements

Current through Register Vol. 43, No. 28, July 11, 2024
A certificate of authority shall not be issued or renewed with
				respect to companies writing insurance specified in K.S.A. chapter 40, articles
				9, 11, 12 and 16, without compliance with the applicable Kansas capital,
				surplus, and deposit requirements pertaining to each type of insurance written
				by the company in any state or country. The company shall comply with the
				Kansas requirements regardless of the fact the company is not authorized to
				write each type of insurance in Kansas.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 3 - FIRE AND CASUALTY INSURANCE › Section 40-3-2 - Foreign stock or mutual fire and casualty companies; deposit requirements

Current through Register Vol. 43, No. 28, July 11, 2024
Capital stock or mutual fire and casualty insurance companies
				not organized under the laws of this state shall comply with the deposit
				requirements contained in articles 9, 10, 11, 12, 15 and 16 of chapter 40,
				Kansas Statutes Annotated, pertaining to companies organized under the laws of
				this state.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 3 - FIRE AND CASUALTY INSURANCE › Section 40-3-5 - Fire and casualty insurance; rating organizations; filing of forms

Current through Register Vol. 43, No. 28, July 11, 2024
For the purpose of this regulation, the word "company" shall
				include a company of any type that is required to file rates pursuant to
				K.S.A.
				40-955 and amendments thereto. The word
				"forms" shall mean policies, endorsements, and standard provisions used in
				policies or endorsements. The term "rating organizations" shall mean any
				organization licensed pursuant to
				K.S.A.
				40-956 and amendments thereto.
(a) When the constitution, articles of
			 association, bylaws, or regulations of a rating organization grant control over
			 the forms to be used by its member and subscriber companies, the forms shall be
			 filed in compliance with
			 K.S.A.
			 40-216 and amendments thereto. An individual
			 company shall not be required to file declarations pages or forms that have
			 been filed on its behalf by a rating organization and approved by the
			 commissioner of insurance.
(b)
			 After approval, each member and subscriber of the rating organization making
			 the filings shall adhere to the forms. Each deviation from approved filings
			 shall be deemed to be in violation of
			 K.S.A.
			 40-216 and amendments thereto, except as
			 provided under
			 K.S.A.
			 40-958 and amendments thereto.
(c) Except as provided in subsection (a),
			 each company shall be responsible for the following:
(1) Controlling its filings of forms;
(2) promptly discontinuing
			 individual filings of those forms filed on its behalf by a rating organization;
			 and
(3) complying with Kansas
			 individual filings of those forms filed on its behalf by a rating organization.
			 Each company that is not a member of or subscriber to a rating organization
			 shall be required to make an individual filing in accordance with
			 K.S.A.
			 40-216, and amendments thereto, for each
			 standardized form filed by a rating organization that is accepted by the
			 company.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 3 - FIRE AND CASUALTY INSURANCE › Section 40-3-6 - Fire and casualty insurance; rates and forms; fictitious classification prohibited

Current through Register Vol. 43, No. 28, July 11, 2024
(a) No insurer
			 writing Kansas risks shall write fire, casualty, inland marine, or surety
			 coverage upon any firm, corporation, individual, or association of individuals
			 at any preferred rate, coverage, or premium based on any fictitious grouping or
			 classification of risks.
(b) A
			 fictitious grouping or classification of risks shall mean risks that meet the
			 following conditions:
(1) Are inconsistent
			 with the classification or grouping of risks recognized by an insurer's
			 approved rate and policy form filings for individual risks;
(2) do not possess the necessary homogeneous
			 characteristics for group rating and classification; and
(3) do not comply with the provisions of the
			 Kansas insurance code.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 3 - FIRE AND CASUALTY INSURANCE › Section 40-3-7 - Fire and casualty insurance; mutual insurers; reciprocal interinsurance exchanges; capital stock insurers issuing participating policies; dividends; requirements

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Each fire and
			 casualty insurance contract issued in Kansas by a mutual insurer or reciprocal
			 interinsurance exchange, and each participating fire and casualty insurance
			 contract issued in Kansas by a capital stock insurer, shall contain a provision
			 stating that dividends may be paid on the policy.
(b) A capital stock insurer shall not issue
			 participating policies in Kansas unless:
(1)
			 Issuance authority exists in its charter or articles of incorporation;
(2) The supreme court of its state
			 of domicile has held that a domestic capital stock insurer has inherent
			 authority to issue participating policies; or
(3) The attorney general or chief legal
			 official of its state of domicile has ruled that a domestic capital stock
			 insurer has inherent authority to issue participating policies.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 3 - FIRE AND CASUALTY INSURANCE › Section 40-3-8 - Fire and casualty insurance; participating policies; filing requirements

Current through Register Vol. 43, No. 28, July 11, 2024
Each company writing fire, casualty, inland marine or surety
				coverages in Kansas on participating policies shall file each participating
				plan with the insurance department if the plan includes dividend payments on a
				basis other than the payment of a uniform percentage of the policy premium to
				all insureds of the company covered by the same policy form.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 3 - FIRE AND CASUALTY INSURANCE › Section 40-3-9 - Fire and casualty companies; participating policies; payment of dividends to insured required; conditioning dividends on continuance of policy prohibited

Current through Register Vol. 43, No. 28, July 11, 2024
(a) Each fire and
			 casualty company issuing participating or dividend-paying policies shall issue
			 dividend checks that are payable to the insured.
(b) Dividends shall not be credited to the
			 account of the agent, except in those cases where the insured has not made
			 payment of all premiums due on the policy under which the dividends are being
			 paid. In such cases, the dividend portion equal to the unpaid premium may be
			 credited to the agent's account, but the company shall retain evidence
			 substantiating notice to the insured of the dividend amount due and the agent
			 to whom the dividends have been credited.
(c) Each fire and casualty company issuing
			 participating or dividend paying policies shall be prohibited from conditioning
			 the payment of dividends on the continuance of the policy. To prevent unfair
			 discrimination, the dividend shall be payable to the insured regardless of
			 whether the policy is continued or terminated. Crediting of a dividend to the
			 renewal premium shall not be prohibited where the insured desires to renew the
			 policy. When the policy is not continued, the dividend shall be payable in
			 accordance with subsection (a) above.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 3 - FIRE AND CASUALTY INSURANCE › Section 40-3-11 - Property insurance; possession of policy in person other than insured; copy for insured

Current through Register Vol. 43, No. 28, July 11, 2024
(a) The agent of
			 the insurer shall provide to the insured a certificate or copy of each property
			 insurance policy when:
(1) the property
			 insurance policy is issued to the insured, mortgagee, trustee, or other party
			 having an insurable interest in the involved property; and
(2) the mortgagee, trustee, or other party
			 retains the policy of insurance in his or her possession.
Kansas Administrative Regulations › Agency 40 - INSURANCE DEPARTMENT › Article 3 - FIRE AND CASUALTY INSURANCE › Section 40-3-14 - Mutual fire and tornado insurance companies; extended coverage endorsement

Current through Register Vol. 43, No. 28, July 11, 2024
(a) For the purpose
			 of this regulation, "extended coverage endorsement" means that endorsement
			 insuring the perils of windstorm, hail, explosion, riot, riot attending a
			 strike, civil commotion, aircraft, vehicles, and smoke, except as provided and
			 set out in the extended coverage endorsement prescribed and generally used and
			 in force or hereafter amended and being approved by the insurance commissioner
			 for use by a fire insurance company.
(b) Each Kansas mutual fire and tornado
			 insurance company, organized and operating under article 10 of chapter 40,
			 Kansas Statutes Annotated, and writing the classes of business authorized in
			 K.S.A.
			 40-1001 only, may issue policies insuring
			 classes of coverage included in the extended coverage endorsement.