Kansas Governor Bill Graves recently signed HB 2480, a consumer privacy bill, and HB 2065, raising the state insurance premium tax by a projected $10 million a year. Both laws become effective July 1.
According to National Association of Independent Insurers (NAII) Counsel Ann Weber, both of these bills will raise the cost of doing business for insurance companies in Kansas.
She added that health information provisions included in the privacy bill could require that insurers set up two separate systems to comply with conflicting requirements dealing with health and financial information., an additional burden was not intended by the federal Gramm-Leach-Bliley Act, which HB 2480 seeks to implement.
Was this article valuable?
Here are more articles you may enjoy.
Delta Probing Unauthorized Wi-Fi on Flight After Hacker Event 
AI Data Center Boom Is ‘Maxing Out’ P/C Insurers, AIG CEO Says 
Tornado Alley’s on the Move and Creating New Risk Concerns, Modeler Says 
Seven People Charged in $100M Workers’ Compensation Fraud Operation in Florida 
