Current through Register Vol. 43, No. 39, September 26, 2024
(a) As used in this
regulation, "normal market" shall mean insurance companies that sell policies
to preferred or standard risks. Preferred or standard risks are applicants or
policyholders who qualify for coverage at favorable premiums due to their
underwriting characteristics.
(b)
Each company issuing a fire and casualty insurance policy in this state with a
premium rate that results from the insured's inability to obtain coverage in
the normal market shall include a statement on the application or policy form,
signed by the applicant or named insured, that contains the following
statements, as applicable, or statements with similar wording:
(1) "I am unable to obtain _________________
(state kind) insurance at normal rates and hereby request the issuance of this
policy at rates in excess of normal rates."
(2) "I have been unable to procure similar
insurance at normal rates although my risk has been submitted to at least three
other insurance companies authorized to transact insurance business in Kansas."
(3) For automobile liability
insurance, the statements in the following paragraphs shall be included:
(A)
"(1) I
have been unable to procure similar insurance at normal rates, or
(2) I have been unable to procure similar
insurance at normal rates because my previous insurance company nonrenewed or
canceled my insurance."
(B) "I understand that liability limits
sufficient to meet the financial responsibility requirements of the state may
be available through the Kansas automobile insurance plan." The preceding
statement shall not apply if the policy is issued through the Kansas automobile
insurance plan.
(4) For
workers compensation and employers liability insurance, the following statement
shall be included: "I understand that I may obtain workers compensation and
employers liability insurance through the Kansas workers compensation insurance
plan." The preceding statement shall not apply if the policy is issued through
the Kansas workers compensation insurance plan.
(5) For fire and extended coverage insurance,
the following statement shall be included: "I understand that I may be able to
obtain adequate fire and extended coverage insurance through the Kansas
all-industry placement facility." The preceding statement shall not apply if
the policy is issued through the Kansas all-industry placement facility.
(6) For a health care provider
required to comply with
K.S.A.
40-3402 and amendments thereto, the following
statement shall be included: "I understand that I may be able to obtain
adequate basic professional liability coverage through the Kansas health care
provider insurance availability plan." The preceding statement shall not apply
if the policy is issued through the Kansas health care provider insurance
availability plan.
