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Minutes for SB448 - Committee on Insurance and Pensions
Short Title
Adopting the national association of insurance commissioner's amendments to the unfair trade practices act excluding commercial property and casualty insurance producers, brokers and insurers from prohibitions on giving rebates as an inducement to sales.
Minutes Content for Wed, Mar 9, 2022
Chairperson Johnson opened the hearing on SB448.
Eileen Ma, Assistant Revisor, Office of the Revisor of Statutes, provided an overview of the bill. (Attachment5) Ms. Ma stood for questions.
Proponent Testimony:
Lee Modesitt, Director of Government Affairs and Communication, Kansas Insurance Department, provided testimony in support of SB448 stating the bill is designed to update and modernize rebating statutes to better align with today's business realities. Kansas, like most states in the country, has rather dated statutes and SB448 intends to make it clear what is a permissible rebate or value-added product or service, while still providing consumer protection. (Attachment6) Mr. Modesitt stood for questions.
Written Proponent Testimony:
Hilary Segura, Assistant Vice President and Counsel, State Government Relations, American Property Casualty Insurance Association (Attachment7)
William Sneed, Legislative Counsel, State Farm Insurance Companies (Attachment8)
David Monaghan, Government Affairs Counsel, American Family Insurance (Attachment9)
There were no other questions or testimonies. Chairperson closed the hearing on SB448.
