KANSAS STATUTES AND CODES

40-2,156. Acquisitions and dispositions of assets or nonrenewals, cancellations or revisions of reinsurance agreements; report; confidential.

40-2,156

Chapter 40.--INSURANCE Article 2.--GENERAL PROVISIONS

40-2,156. Acquisitions and dispositions of assets or nonrenewals,cancellations or revisions of reinsurance agreements; report; confidential.(a) Every insurer domiciled in this state shall file areport with the commissioner disclosing material acquisitions and dispositionsof assets or material nonrenewals, cancellations or revisions of cededreinsurance agreements unless such acquisitions and dispositions of assets ormaterial nonrenewals, cancellations or revisions of ceded reinsuranceagreements have been submitted to the commissioner for review, approval orinformation purposes pursuant to other provisions of chapter 40 of the KansasStatutes Annotated and amendments thereto and rules and regulations of thecommissioner or other requirements.

(b) The report required in subsection (a) is due within 15 days after theend of the calendar month in which any of the transactions specified insubsection (c) occur.

(c) One complete copy of the report, including any exhibits or otherattachments filed as part thereof, shall be filed with:

(1) The insurance department of the insurer's state of domicile; and

(2) the national association of insurance commissioners.

(d) All reports obtained by or disclosed to the commissioner pursuant tothis act, shall be given confidential treatment and shall not be subject tosubpoena and shall not be made public by the commissioner, the nationalassociation of insurance commissioners or any other person, except to insurancedepartments of other states, without the prior written consent of the insurerto which the report pertains unless the commissioner, after giving the insurerwho would be affected thereby, notice and an opportunity to be heard,determines that the interest of policyholders, shareholders or the public willbe served by the publication of such report, in which event the commissionermay publish all or any part thereof as the commissioner deems appropriate.

History: L. 1994, ch. 89, § 1; July 1.