State insurance department seeking increased fees

Insurance coverage

TOPEKA, Kan. (AP) – The Kansas Insurance Department says it needs to raise fees on insurance companies because its long-term cash flow is uncertain.

The department says its regulatory fund is depleted because legislators and Gov. Sam Brownback’s administration has repeatedly used the money for other purposes.

Zachary Anshutz, assistant commissioner of insurance, says the regulatory fund is likely to be down to $200,000 in December, if revenues don’t improve.

The Topeka Capital-Journal reports (http://bit.ly/1dlGP73 ) the fund once had $24 million. But the state diverted $15 million in June and another $5 million in July. Another $5 million is scheduled to be diverted in July, and Brownback has proposed diverting $3 million more in March 2015.

Brownback’s spokeswoman, Sara Belfry, said the insurance department has enough cash flow to complete its work.


Information from: The Topeka (Kan.) Capital-Journal, http://www.cjonline.com

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s