We believe our primary responsibility is to the people whose personal lives or business endeavors are protected by an insurance product in the state of Kansas. We recognise that we are here to serve them and consider this responsibility to be an honour.
[Last updated: 18/07/16]
Regulatory contact:
Ken Abitz or Commissioner Ken Selzer
Address of regulator
420 SW Ninth Street
Topeka, KS 66612
Telephone Number
785-296-3071 (Kansas Insurance Department)
Email Address
kabitz@ksinsurance.org
commissioner@ksinsurance.org
Website
ksinsurance.org
Name of Captive Legislation
K.S.A. 40-4301 et seq.
Year Legislation Passed
1988
Recent Amendments
None
Do you allow Cell Captives?
No
Total Number of Licenced Captives
2
Number of Risk Retention Groups or Group Captives
0
Number of Single Parent Captives
2
Number of Cell Captives
0
Number of licences granted in the past year (2015 calendar year)
1
Approximate (or Average) length of time to process a new captive
30-60 days
Captive tax rates
Premium taxes at 2% of premiums received on risks located in Kansas
Minimum capitalisation rate
Common Capital Stock $100,000
Paid-In Surplus $150,000 (Pure Captive)
$300,000 (Industrial Insured Captive formed as Stock Insurer)
$500,000 (Industrial Insured Captive formed as Mutual Insurer)
Licencing fees
Examination of Charter and Other Documents $500
Filing Annual Statement $100
Certificate of Authority $10
Industry sectors best represented in the domicile
Medical Malpractice – Nursing Home Staff
Aircraft – Reinsurance of Product Liability
Top uses for Captives in the domicile
Medical Malpractice – Nursing Home Staff
Total premiums received by the Captives
$132,532
Total value of assets under management
$7,916,872
Captive Insurance Managers registered to conduct business in the domicile
None
Kansas Insurance Department Comments:
The Department has only one active captive insurance company, which is currently writing medical malpractice coverage for the parent company’s nursing home staff. The other captive has been in run-off for over 10 years.