40-952. Same; application of act.
40-952
40-952. Same; application of act.(a) This act applies to fire and casualty insurance, includingfidelity, surety and guarantee bonds, on risks or operations in this stateexcept reinsurance, accident and health insurance, insurance against loss of ordamage to, or against liability arising out of the ownership, maintenance oruse of any aircraft.
(b) As used herein, the term "fire insurance" shall be construed to apply toand include the classes of insurance described in K.S.A. 40-901. The term"casualty insurance" shall be construed to apply to and include the classes ofinsurance described in (b), (c), (d), (e), (i), (j), (k), (l) and (m) of K.S.A.40-1102 and amendments thereto, and paragraphs (b), (d), (e), (f), (g) and (h)of K.S.A. 40-1203 and amendments thereto, and the classes of insurancegoverned by Article 12a, Chapter 40, Kansas Statutes Annotated.
(c) For title insurance rate filing purposes, only those charges made inconnection with the issuance, sale and servicing of title insurance policies orreal estate transactions by title insurance companies, agencies andagents on property located in counties having a population of more than 10,000shall be subject to filing requirements of this act. Charges made for theassumption of risk under title insurance policies which shall be construed aspremium for the purposes of K.S.A. 40-252 and amendments thereto, shallinclude riskpremium, underwriting expenses such as searching charges, examination charges,to include any such charges retained by agents of the title insurer, chargesfor determining insurability and every other charge related to the issuance ofthe title insurance policy. Services provided by agents which are not relatedto insurance, such as performance of real estate closings or extension of theabstract of title, may be charged but not included as premium. No provision ofthis act shall apply to the filing or regulation of title insurancerates other than the requirements imposed by this section.
Every insurance agent, agency or company authorized to transact titleinsurance in this state shall file with the commissioner every manual ofclassification, rules and rates, every rating plan, every rate card and everymodification of the foregoing which may be used in connection with providingtitle insurance or otherservices in connection with real estate transactions on property located incounties having a population of 10,000 or more. No charge may be made by anytitle insurance agent, agency or company that has not been filed with thecommissioner as required by this section. Any service customarily provided by atitle insurance agent or affiliated entity that is not included in the ratesshall be disclosed when the rates are filed with the commissioner.
(d) This act shall also apply to reciprocal or interinsurance exchangesorganized or operating under article 16 of chapter 40 of the Kansas StatutesAnnotated and amendments thereto, with respect to the classes of insuranceenumerated in this section.
History: L. 1997, ch. 154, § 2; July 1.