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Committee hears bill to allow eligible nonadmitted insurers to cover Kansas motor-vehicle dealers
Summary
House Bill 2,087 would let “eligible nonadmitted insurers” issue motor-vehicle-dealer liability policies, raise capital thresholds for the state'maintained list of such insurers and remove a $200 filing fee. Proponents said the change would expand options for dealers amid a thin admitted-carrier market.
House Bill 2,087, introduced to the Kansas Senate Committee on Insurance, would permit certain eligible nonadmitted insurers to issue motor vehicle liability insurance to motor vehicle dealers in Kansas and update related excess-lines provisions.
The bill replaces statutory language describing insurers "not allowed to do business in the state" with the term "eligible nonadmitted insurer," requires the Commissioner of Insurance to maintain a list of eligible nonadmitted insurers, increases the capital requirement for inclusion on that list from $4,500,000 to $15,000,000, and eliminates a $200 filing fee for eligible nonadmitted insurers to submit an annual statement for review. The bill also states that…
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