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Committee advances bill setting response timelines for insurance inquiries, clears amendment on pilot testing requests
Summary
The Kansas Senate Committee on Financial Institutions and Insurance voted to advance House Bill 2,043 as amended; the bill sets time limits for commissioner inquiries and insurer/agent responses and provides a process for testing value-added products.
The Kansas Senate Committee on Financial Institutions and Insurance voted to advance House Bill 2,043 as amended. The bill sets timelines for commissioner inquiries and responses and provides a process for insurers or producers to seek additional time when testing a value-added product or service.
Committee staff said HB 2,043 requires that "an inquiry from the commissioner of insurance that is related to a particular matter" be made within 14 calendar days, and the House Committee amended the bill to standardize…
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