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Minutes for SB339 - Committee on Insurance
Short Title
Updating the version of risk-based capital instructions in effect.
Minutes Content for Mon, Mar 4, 2024
The Chair opened the hearing on SB339. Assistant Revisor Ma gave an overview and stood for questions (Attachment 3). Primarily, this bill is an annual date change bill.
Proponent testimony was given by Eric Turek, Director Government and Public Affairs, Kansas Department of Insurance. The bill updates instructions for the calculation of risked-base capitol (RBC), the required amount of capitol needed to support the overall business operations in consideration of its size and risk profile. Implementing the RBC Instructions is a national accreditation standard. (Attachment 4). The conferee stood for questions.
There were no neutrals or opponents present.
The Chair closed the hearing on SB339.
