Minutes for HB2134 - Committee on Insurance and Pensions

Short Title

Updating the national association of insurance commissioners credit for reinsurance model law and codifying the credit for reinsurance model regulation.

Minutes Content for Wed, Jan 27, 2021

The Chairperson opened the hearing on HB2134 and asked staff from the Revisors Office to provide an overview of the bill. (Attachment 3)

The Chairperson referred Committee members to the Fiscal Note.

Lee Modesitt, Director of Governmental Affairs and Communication with the Kansas Insurance Department, testified in support of the bill. He said that the bill proposes changes to two provisions of the Kansas insurance statutes, both of which are required for accreditation with the National Association of Insurance Commissioners (NAIC). He summarized that HB2134 is important to the state of Kansas as we go through the NAIC accreditation process later this year and ensures we maintain Kansas authority over Kansas companies. Mr. Modesitt responded to Committee questions.

(Attachment 4)

Written testimony in support of the bill was submitted by:

Tyler Laughlin, Regional Vice President - State Relations, American Council of Life Insurers

(Attachment 5)

After asking if there were any other conferees and seeing none, Chairperson Johnson closed the hearing on HB2134.