KANSAS STATUTES AND CODES

40-961. Same; statistical plans for reporting loss and expense data; rules and regulations.

40-961

Chapter 40.--INSURANCE Article 9.--GENERAL PROVISIONS RELATING TO FIRE INSURANCE COMPANIES

40-961. Same; statistical plans for reporting loss and expense data; rulesand regulations.(a) The commissioner shall develop statistical plans which shall beused by each insurer in the recording and reporting of its loss and expenseexperience, in order that the experience of all insurers may be made availableat least annually in such form and detail as may be necessary to aid thecommissioner in determining whether rating systems comply with the standardsset forth in this act. Such plans may also provide for the recording andreporting of expense experience items which are specially applicable to thisstate. In promulgating such plans, the commissioner shall give dueconsideration to the rating systems on file withthe commissioner and, in order that such plans may be as uniform as ispracticable among the several states, to the form of the plans used for suchrating systems in other states. The commissioner may designate one or morerating organizations or other agencies to assist the commissioner in gatheringsuch experience and making compilations thereof, and such compilations shall bemade available, by the commissioner to insurers and ratingorganizations.

(b) Reasonable plans may be developed by the commissioner for interchange ofdata necessary for the application of rating plans.

(c) In order to further uniform administration of rate regulatory laws, thecommissioner and every insurer and rating organization may exchange informationand experience data with insurance supervisory officials, insurers and ratingorganizations in other states and may consult with them with respect to ratemaking and the application of rating systems.

(d) The commissioner may make reasonable rules and regulations necessary toeffect the purposes of this act.

History: L. 1997, ch. 154, § 11; July 1.