Kansas Rules and Regulations Common to all Lines

Kansas Rules and Regulations Common to all Lines a Department of Insurance has been established to do what ️supervise and regulate the business of insurance in the state of Kansas The chief officer of the Department of Insurance is the... ️Commissioner of Insurance The Commissioner is elected for a term of ________ at the same time and during the same election that _________________________. ️4 years other state officials are chose In the case of a vacancy, the governor will appoint a person suitable to... ️service for the unexpired term and until a successor is elected and qualified The insurance laws are collectively known as... ️the insurance code The Commissioner has the following broad powers and duties: (5) ️1. Enforce the provisions of the state insurance code 2. Issue insurance licenses and certificates of authority 3. conduct examinations and investigations of insurance matters 4. approve or disapprove insurance forms and rates 5. issue orders and notices regarding insurance matters The commissioner regulates insurance companies authorized to do business in this state. What does this entail? ️the examination of insurers' books and records what is the purpose of the examination of insurers' books and records? ️to ensure that the compnaies remain solvent and conduct business in compliance with state laws and regulations pertaining to licensing, policy forms, rates, claims, and market conduct The commissioner must do what before issuing a certificate of authority, and then as often as deemed necessary? ️examine all insurance companies organized under the laws of kansas What must the commissioner do every 5 years? ️examine the affairs and financial condition of any insurance company authorized to do business in this state The cost of the examinations is the responsibility of... ️the insurance company being examined all companies under examination and their officers, directors, employees and agents must provide the Commissioner with... ️free access to all books and paper relating to the company's business or affairs. If any company or its officers, directors, employees or agents refuses to comply with a reasonable request of the examiners, ️the company's certificate of authority may be suspended or not renewed by the commissioner. Inlieu of an examination of foreign and alien insurers, the Commissioner may accept an examination report from... ️the accredited Departments of Insurance of their state of domicile (home state). define solvent: ️having assets in access of liabilities, able to pay ones debts If the Commissioner suspects that an insurer or its agent has committed a violation or is engaged in an unfair trade practice, the Commissioner may do what? ️Issue a statement of charges a