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Minutes for SB19 - Committee on Financial Institutions and Insurance

Short Title

Enacting the credit for reinsurance model law.

Minutes Content for Thu, Jan 19, 2017

The Chairperson opened the hearing on SB19.  Eileen Ma presented a summary of the bill and stood for questions; there were none.

Clark Shultz spoke in favor of SB19, relating that the bill amends current law regarding the regulation of insurance.  The bill allows KID to have a list of qualified reinsurers on the agency's website, and would also allow KID to assess an application fee for qualified reinsurers that would cover the necessary costs incurred by KID's Division of Financial Surveillance. Mr. Shultz urged favorable passage of the bill.  He answered questions from Chairperson Longbine and Senators Suellentrop and Billinger.    (Attachment 2)

There being no further questions or discussion, and no other conferees or written-only testimony submitted, the Chairperson closed the hearing on SB19

There being no other business for today, the meeting adjourned at 10:05 am.  The next meeting is scheduled for Tuesday, January 24, 2017.