Volume 41 - Issue 7 - February 17, 2022

State of Kansas

Insurance Department

Notice of Changes in Exempt Commercial Purchaser Thresholds

Pursuant to K.S.A. 40-246i, the Commissioner of Insurance is publishing notice that the thresholds for exempted commercial purchasers are updated as follows:

• K.S.A. 40-246i(a) “Exempt commercial purchaser” means any person purchasing commercial insurance that, at the time of placement, meets the following requirements:
  1. [updated] Possesses a net worth in excess of $22,661,900, except that this amount shall be adjusted every five years by publication in the Kansas register by the commissioner of insurance to account for the percentage change in the consumer price index;
  2. [updated] generates annual revenues in excess of $62,308,917, except that this amount shall be adjusted every five years by publication in the Kansas register by the commissioner of insurance to account for the percentage change in the consumer price index;
  3. [unchanged] employs more than 500 full-time or full-time-equivalent employees per insured entity or is a member of an affiliated group employing more than 1,000 employees in the aggregate;
  4. [updated] is a not-for-profit organization or public entity generating annual budgeted expenditures of at least $37,385,350, except that this amount shall be adjusted every five years by publication in the Kansas register by the commissioner of insurance to account for the percentage change in the consumer price index; or
  5. [unchanged] is a municipality with a population in excess of 50,000 persons.

Any questions should be directed to the Insurance Department at 785-296-7811.

Vicki Schmidt
Insurance Commissioner

Doc. No. 049836