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KS SB55
Bill
Status
2/25/2026
Primary Sponsor
Financial Institutions and Insurance
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AI Summary
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Prohibits any person from soliciting or accepting assignment of post-loss insurance benefits under residential property insurance policies, declaring such assignment agreements against public policy and void
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Exempts from the prohibition assignments made to federally insured financial institutions, mortgagees, subsequent property purchasers, and liability coverage under property policies
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Classifies violations as unfair methods of competition and unfair or deceptive acts or practices under Kansas insurance law (K.S.A. 40-2404)
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Defines "assignment agreement" as any instrument transferring post-loss benefits to persons providing property services including inspection, repair, restoration, replacement, or damage mitigation
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Takes effect upon publication in the Kansas statute book and amends K.S.A. 2025 Supp. 40-2404
Legislative Description
Prohibiting the assignment of benefits under certain property and casualty insurance contracts and defining such assignment of benefits as an unfair method of competition and unfair or deceptive act or practice.
Last Action
House Committee Report recommending bill be passed by Committee on Insurance
3/12/2026