40-246e.List of nonadmitted insurers authorized to write excess coverageon Kansas risks; requirements; removal from list.The commissioner shall maintain a list of insurers not authorized to dobusiness in this state for review by any interested person. Only those insurerswho have filed a certified copy of their most recent annual statementwith the commissioner in the form prescribed by K.S.A. 40-225 and amendmentsthereto or, if domiciledoutside the United States, have filed their most recent annual statementwith the national association of insurance commissioners may appear onthe list. No excess lines agent shall place insurance on a Kansas domiciledrisk with an insurer whose name does not appear on this list. No companyshall appear on the list whose capital or surplus as shown on the annualstatement does not equal or exceed $1,500,000. Individual unincorporatedinsurers not listed by the national association of insurance commissionersmay appear on the list if they are authorized to transact an insurance businessin at least one state of the United States, possess assets which are heldin trust for the benefit of American policyholders in the sum of not lessthan $50,000,000 and pay the filing fee required by this section. Insuranceexchanges who issue contracts on behalf of their members and pay the filingfee required by this section may appear on the list if their individualmembers have a capital or surplus equal to or in excess of $1,500,000 andthe aggregate capital or surplus of all members of the exchange is at least$15,000,000. A nonrefundable filing fee of $200 shall be required of anyinsurer submitting its annual statement for review by the commissioner forinclusion on such list. The commissioner shall remove an insurer's namefrom the listing only when: (a) The insurer requests such removal; or (b)the insurer fails to file its latest annual statement and required filingfee prior to May 1 of each year as required by this section; or (c) thecommissioner is notified by the insurance supervisory authority of any stateof the United States that such insurer has had its authority to transactbusiness restricted; or has been declared insolvent or placedin receivership, conservatorship, rehabilitation or any similar status whereinthe business of the insurer is formally supervised by an insurance supervisoryauthority; or(d) the commissioner is notified by the N.A.I.C. that any insurer domiciledoutside the United States has been declared insolvent or placed inreceivership,conservatorship, rehabilitation or any similar status wherein the businessof the insurer is formally supervised by an insurance supervisory authoritypursuant toan order by any court of competent jurisdiction; or (e) the insurerhas failed to effectuate reasonably prompt, fair and equitablepayment of just losses and claims in this state; or (f) the insurerencourages,promotes or rewards an agent to violate the provisions of K.S.A. 40-246b andamendments thereto. There shall be no liabilityon the part of and no cause of action of any nature shall arise againstthe commissioner, the commissioner'semployees, or the state of Kansas as a result of any insurer's name appearingor not appearing on the list required by this section if such list isconstructedand maintained in good faith and without malice.
History: L. 1982, ch. 198, § 3;L. 1992, ch. 268, § 1; July 1.
40-246e.List of nonadmitted insurers authorized to write excess coverageon Kansas risks; requirements; removal from list.The commissioner shall maintain a list of insurers not authorized to dobusiness in this state for review by any interested person. Only those insurerswho have filed a certified copy of their most recent annual statementwith the commissioner in the form prescribed by K.S.A. 40-225 and amendmentsthereto or, if domiciledoutside the United States, have filed their most recent annual statementwith the national association of insurance commissioners may appear onthe list. No excess lines agent shall place insurance on a Kansas domiciledrisk with an insurer whose name does not appear on this list. No companyshall appear on the list whose capital or surplus as shown on the annualstatement does not equal or exceed $1,500,000. Individual unincorporatedinsurers not listed by the national association of insurance commissionersmay appear on the list if they are authorized to transact an insurance businessin at least one state of the United States, possess assets which are heldin trust for the benefit of American policyholders in the sum of not lessthan $50,000,000 and pay the filing fee required by this section. Insuranceexchanges who issue contracts on behalf of their members and pay the filingfee required by this section may appear on the list if their individualmembers have a capital or surplus equal to or in excess of $1,500,000 andthe aggregate capital or surplus of all members of the exchange is at least$15,000,000. A nonrefundable filing fee of $200 shall be required of anyinsurer submitting its annual statement for review by the commissioner forinclusion on such list. The commissioner shall remove an insurer's namefrom the listing only when: (a) The insurer requests such removal; or (b)the insurer fails to file its latest annual statement and required filingfee prior to May 1 of each year as required by this section; or (c) thecommissioner is notified by the insurance supervisory authority of any stateof the United States that such insurer has had its authority to transactbusiness restricted; or has been declared insolvent or placedin receivership, conservatorship, rehabilitation or any similar status whereinthe business of the insurer is formally supervised by an insurance supervisoryauthority; or(d) the commissioner is notified by the N.A.I.C. that any insurer domiciledoutside the United States has been declared insolvent or placed inreceivership,conservatorship, rehabilitation or any similar status wherein the businessof the insurer is formally supervised by an insurance supervisory authoritypursuant toan order by any court of competent jurisdiction; or (e) the insurerhas failed to effectuate reasonably prompt, fair and equitablepayment of just losses and claims in this state; or (f) the insurerencourages,promotes or rewards an agent to violate the provisions of K.S.A. 40-246b andamendments thereto. There shall be no liabilityon the part of and no cause of action of any nature shall arise againstthe commissioner, the commissioner'semployees, or the state of Kansas as a result of any insurer's name appearingor not appearing on the list required by this section if such list isconstructedand maintained in good faith and without malice.
History: L. 1982, ch. 198, § 3;L. 1992, ch. 268, § 1; July 1.
40-246e.List of nonadmitted insurers authorized to write excess coverageon Kansas risks; requirements; removal from list.The commissioner shall maintain a list of insurers not authorized to dobusiness in this state for review by any interested person. Only those insurerswho have filed a certified copy of their most recent annual statementwith the commissioner in the form prescribed by K.S.A. 40-225 and amendmentsthereto or, if domiciledoutside the United States, have filed their most recent annual statementwith the national association of insurance commissioners may appear onthe list. No excess lines agent shall place insurance on a Kansas domiciledrisk with an insurer whose name does not appear on this list. No companyshall appear on the list whose capital or surplus as shown on the annualstatement does not equal or exceed $1,500,000. Individual unincorporatedinsurers not listed by the national association of insurance commissionersmay appear on the list if they are authorized to transact an insurance businessin at least one state of the United States, possess assets which are heldin trust for the benefit of American policyholders in the sum of not lessthan $50,000,000 and pay the filing fee required by this section. Insuranceexchanges who issue contracts on behalf of their members and pay the filingfee required by this section may appear on the list if their individualmembers have a capital or surplus equal to or in excess of $1,500,000 andthe aggregate capital or surplus of all members of the exchange is at least$15,000,000. A nonrefundable filing fee of $200 shall be required of anyinsurer submitting its annual statement for review by the commissioner forinclusion on such list. The commissioner shall remove an insurer's namefrom the listing only when: (a) The insurer requests such removal; or (b)the insurer fails to file its latest annual statement and required filingfee prior to May 1 of each year as required by this section; or (c) thecommissioner is notified by the insurance supervisory authority of any stateof the United States that such insurer has had its authority to transactbusiness restricted; or has been declared insolvent or placedin receivership, conservatorship, rehabilitation or any similar status whereinthe business of the insurer is formally supervised by an insurance supervisoryauthority; or(d) the commissioner is notified by the N.A.I.C. that any insurer domiciledoutside the United States has been declared insolvent or placed inreceivership,conservatorship, rehabilitation or any similar status wherein the businessof the insurer is formally supervised by an insurance supervisory authoritypursuant toan order by any court of competent jurisdiction; or (e) the insurerhas failed to effectuate reasonably prompt, fair and equitablepayment of just losses and claims in this state; or (f) the insurerencourages,promotes or rewards an agent to violate the provisions of K.S.A. 40-246b andamendments thereto. There shall be no liabilityon the part of and no cause of action of any nature shall arise againstthe commissioner, the commissioner'semployees, or the state of Kansas as a result of any insurer's name appearingor not appearing on the list required by this section if such list isconstructedand maintained in good faith and without malice.
History: L. 1982, ch. 198, § 3;L. 1992, ch. 268, § 1; July 1.
