40-4311. Reinsurance authority; requirements and limitation; credit for reserves on risks ceded. (a) Any captive insurance company organized under the laws of this state may, with the consent of the commissioner, assume all or any part of an individual risk or all or any part of a particular class of risks by affiliated insurers.
(b) Any captive insurance company may take a credit or reduction from liability for the reinsurance of risks or portions of risks ceded to a reinsurer in accordance with K.S.A. 40-221a, and amendments thereto, or as otherwise approved by the commissioner. The commissioner may require any other documents, financial information or other evidence that such reinsurer will be able to provide adequate security for its financial obligations. The commissioner may deny authorization or impose any limitation on the activities of a reinsurer that in the commissioner's judgment are necessary and proper to provide adequate security for the ceding captive insurance company and for the protection and consequent benefit of the public at large.
History: L. 1988, ch. 156, § 11; L. 1990, ch. 177, § 3; L. 2018, ch. 50, § 45; July 1.
Structure Kansas Statutes
Article 43 - Captive Insurance Companies
40-4307 Annual report of financial condition.
40-4308 Examination of companies; report; orders; confidentiality.
40-4309 Suspension or revocation of certificate of authority; grounds.
40-4310 Investments; restrictions and limitations.
40-4311 Reinsurance authority; requirements and limitation; credit for reserves on risks ceded.
40-4312 No requirement to join rating organization.
40-4313 Companies prohibited from joining or benefiting from insolvency guarantee funds; notice.
40-4317 Rules and regulations; exemptions.
40-4320 Same; actions requiring prior approval of commissioner.
40-4321 Same; books and records; maintenance requirements.
40-4322 Same; fund established.
40-4323 Same; dormant captive insurance companies; certification of; renewal.
40-4324 Same; notification of material change required.
40-4325 Branch captive insurance companies; establishment.
40-4327 Same; capital requirements; exemptions.
40-4328 Same; certification of general good required.
40-4330 Same; examinations; confidentiality.
40-4332 Special purpose insurance captives; definitions.
40-4334 Same; certification required; requirements.
40-4335 Same; plan of operation.
40-4336 Same; commissioner's findings to approve application.
40-4337 Same; incorporation of companies.
40-4338 Same; miscellaneous requirements.
40-4340 Same; issuance of securities.
40-4341 Same; asset management.
40-4342 Same; admitted assets.
40-4343 Same; prohibited activities.
40-4344 Same; dividends and distributions; limitations.
40-4345 Same; plan of operation; changes.
40-4346 Same; affiliated agreements.
40-4348 Same; examinations; reports.
40-4350 Same; confidentiality.
40-4351 Same; conservation, rehabilitation or liquidation, grounds for.