New protected cell bill for Kansas

Laura Kelly, the Governor of Kansas, has signed into law KS HB2334, the Kansas protected cell captive insurance company act.

The bill provides for the redomestication of a foreign or alien captive insurance company and updating certain terms, requirements and conditions of the captive insurance act, reducing insurance company premium tax rates, creating parity between the insurance agent and public adjuster licensing requirements, authorising insurers to file certain travel insurance policies under the accident and health line of insurance.

It also authorises the commissioner of insurance to select and announce the version of certain instructions, calculations and documents in effect for the upcoming calendar year and cause such announcement to be published in the Kansas register not later than December 1 of the current year.

The bill was passed by the Kansas House earlier this month.

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