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Minutes for SB423 - Committee on Financial Institutions and Insurance
Short Title
Reducing the number of appointed board members on certain insurance-related governing boards and the frequency of meetings of the the committee on surety bonds and insurance.
Minutes Content for Thu, Feb 8, 2024
Chairperson Longbine opened the hearing on SB423.
Eileen Ma, Assistant Revisor, ROS, presented the Revisor's Memorandum brief and stood for questions. There were none. (Attachment 9)
Kyle Strathman, Public Affairs Manager, Kansas Insurance Department (KID), presented proponent testimony on this bill requested by KID on behalf of the Insurance Commissioner, Vicki Schmidt. The Department believes that this bill would create efficiencies and cost savings to the operations of the four boards mentioned in the bill. It also would encourage board membership that is active and not perfunctory. (Attachment 10) Mr. Strathman answered a question from Senator Gossage.
The Chairperson pointed out that no opponent testimony was submitted at this time.
Neutral written-only testimony was submitted by:
Marlee Carpenter, on behalf of Kansas Association of Property and Casualty Insurance Companies (KAPCIC). (Attachment 11)
There being no other questions or comments, and no other proponent, opponent, or neutral testimony was submitted, The Chairperson closed the hearing on SB423.
The meeting adjourned at 10:25 am. The next scheduled meeting is Tuesday, February 13, 2024, in Room 546-South of the Capitol.
