™Your Policy Risk Impact Agent
1,458 sections in this chapter.
K.S.A. 40-6003 Same; risk management framework required
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40-6003. Same; risk management framework required. An insurer shall maintain a risk management framework to assist the insurer with identifying, assessing, monitoring, managing and reporting on its material and relevant risks. This requirement may be satisfied if the insurance gr…
K.S.A. 40-6004 Same; annual assessment required
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40-6004. Same; annual assessment required. Subject to K.S.A. 40-6006, and amendments thereto, an insurer or the insurance group of which the insurer is a member shall regularly conduct an ORSA consistent with a process comparable to the ORSA guidance manual. The ORSA shall be con…
K.S.A. 40-6005 Same; reporting
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40-6005. Same; reporting. (a) Upon the commissioner's request, and no more than once each year, an insurer shall submit to the commissioner an ORSA summary report or any combination of reports that together contain the information described in the ORSA guidance manual, applicable…
K.S.A. 40-6006 Same; exemptions
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40-6006. Same; exemptions. (a) An insurer shall be exempt from the requirements of this act if: (1) The insurer has annual written and unaffiliated assumed premium, including international direct and assumed premium but excluding premiums reinsured with the federal crop insurance…
K.S.A. 40-6007 Same; confidentiality
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40-6007. Same; confidentiality. (a) Documents, materials or other information, including the ORSA summary report, in the possession or control of the department of insurance that are obtained or created by or disclosed to the commissioner or any other person under this act, are r…
K.S.A. 40-6008 Same; penalty
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40-6008. Same; penalty. Any insurer failing, without just cause, to timely file the ORSA summary report as required in this act shall be required, after notice and hearing, to pay a penalty for each day's delay, to be recovered by the commissioner. The penalty so recovered shall …
K.S.A. 40-6009 Same; severability
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40-6009. Same; severability. If any provision of this act, or the application thereof to any person or circumstance is held invalid, such determination shall not affect the provisions or applications of this act which can be given effect without the invalid provision or applicati…
K.S.A. 40-6010 Same; filing first report
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40-6010. Same; filing first report. The first filing of the ORSA summary report shall be in 2017 pursuant to K.S.A. 40-6005, and amendments thereto, of this act. History: L. 2015, ch. 18, § 10; January 1, 2017.