Bill > HB2042

This bill makes several significant changes to regulations for title insurance agents in Kansas. First, it modifies the audit reporting requirements, now allowing title insurance agents to make their annual audit reports available for inspection by the commissioner upon request, instead of submitting them automatically within 30 days of the calendar year's end. Second, the bill standardizes the surety bond requirement for title insurance agents, mandating a $100,000 bond or irrevocable letter of credit, eliminating the previous tiered system based on county population. Third, the bill appears to eliminate the controlled business exemption in certain counties, which means title insurance agents will face stricter rules about the percentage of business they can derive from controlled sources (referrals from entities with a financial interest in the title insurance agency). These changes aim to increase transparency, financial accountability, and reduce potential conflicts of interest in the title insurance industry. The bill will take effect on January 1, 2026, providing title insurance agents time to adapt to the new requirements.

Business and Industry

Insurance (H)

https://kslegislature.gov/li/b2025_26/measures/hb2042/