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Minutes for SB121 - Committee on Financial Institutions and Insurance
Short Title
Authorizing 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, allowing certain life insurers to follow health financial reports and adopting certain provisions from the national association of insurance commissioners holding company system regulatory act relating to group capital calculations and liquidity stress testing.
Minutes Content for Mon, Feb 17, 2025
Chairperson Dietrich opened the floor to work SB 121. Revisor Eileen Ma reviewed the bill and stood for questions. She also offered and explained an amendment that was requested by the Department of Insurance and stood for questions. (Attachment 1)
Senator Francisco moved to accept the amendment to the bill. Senator Fagg seconded. Motion passed.
Revisor Eileen Ma offered another amendment requested by the University of Kansas Health Systems that would exempt certain entities from state regulation of insurance and explained it to the Committee. (Attachment 2) Discussion ensued.
Senator Gossage moved to accept the amendment to the bill. Senator Kloos seconded. Motion passed.
Senator Gossage moved to favorably pass SB 121 as amended out of Committee. Senator Fagg seconded. Motion passed.
