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Committee hears experts on captive insurance bill aimed at attracting captives to Kansas; no vote
Summary
Lawmakers and industry experts discussed House Bill 2,334, which would update Kansas captive insurance rules to add cell captives, allow certain workers' compensation coverage, and adjust premium tax treatment to attract domiciles; the Department of Insurance signaled it is still reviewing part of the bill.
The Kansas Senate Committee on Financial Institutions and Insurance held an extended hearing on House Bill 2,334 to update the state's captive insurance statutes, hear expert testimony and take questions; the committee closed the hearing without acting on the bill.
Representative Tarwater, the bill sponsor, asked the committee to consider changes intended to make Kansas a more attractive domicile for captive insurance companies, and called on industry experts to explain how the statute changes would work in practice. Ryan Ralston, president of Elevate Risk Solutions, testified by WebEx that modern captive rules could keep premium volume and related jobs in Kansas rather than pushing captives to other states.
Ralston said captives are regulated insurance entities that allow companies to fund and manage their own risks. "Captives have grown. They've been in place…
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