Surplus Lines

 Foreign Surplus Lines Insurer Filing Requirements

• Application for a New or Renewal Surplus Lines Carrier

Initial Filing Requirements

Kansas Statutes Annotated (K.S.A.) 40-246b and 40-246c, provide that insurers may offer fire insurance coverages enumerated inK.S.A. 40-901, casualty insurance coverage enumerated in K.S.A. 40-1102, and/or reinsurance if such coverages are not readily obtainable in the admitted insurance market.
To write surplus lines business in Kansas, in accordance with K.S.A. 40-246e, an insurer domiciled in the United States must first:

1. File with the commissioner of insurance a certified copy of the insurer’s most recent annual statement or if domiciled outside the United States, have filed the company’s most recent annual statement with the National Association of Insurance Commissioners. The required annual statement certification must be from the insurance department (or other regulatory authority) where the insurer is domiciled and the certification must be attached to the annual statement. The annual statement must be submitted in the form adopted by the National Association of Insurance Commissioners.
2. The annual statement shall reveal a capital or surplus equal to or greater than $4,500,000.
3. Any insurer submitting its annual statement for review by the commissioner as a prerequisite to offering surplus lines coverages in Kansas must submit a non-refundable filing fee of $200.

Relisting Filing Requirements

Pursuant to K.S.A. 40-246(e), each surplus lines insurer must submit prior to May 1 of each year, the following to remain on the list of Kansas Nonadmitted Insurers:

1. A nonrefundable filing fee of $200.00.

The Department also requests a report of business written. The report must list all Kansas businesses placed during the preceding calendar year. This information must include the name and address of the Kansas surplus lines agent, insured’s name, policy inception/expiration date, policy number, and the total premium charged.

Alien Surplus Lines Insurer Filing Requirements

Pursuant to K.S.A. 40-246(e), alien insurers must file their most recent annual statement with the National Association of Insurance Commissioners. The NAIC’s International Insurers Department provides this department with a quarterly listing of alien insurers who have met the criteria established by the NAIC.