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Minutes for HB2531 - Committee on Insurance
Short Title
Updating the version of risk-based capital instructions in effect.
Minutes Content for Mon, Jan 29, 2024
The Vice Chair opened the hearing on HB2531. Assistant Revisor, Eileen Ma, provided an overview of the bill, a bill updating the version of risk-based capital instructions in effect, an annual date change bill. (Attachment 3) The bill changes the effective date of the risk-based capital instructions in effect by advancing the effective date by one year. Eric Turek, Director of Government and Public Affairs, Kansas Insurance Department, gave proponent testimony for this bill, and stood for questions. (Attachment 4) An ask was made to determine the effect of NOT addressing HB2531 at this time. The date change from previous year is just a formality, not making the formal change could give rise to issues of accreditation with respect to the Kansas Insurance Department. The Vice Chair closed the hearing on HB2531.
