Kansas Statutes 40-3602. Insolvent insurers; offset of unearned premiums by agent; contract provisions with agent, application
Current as of: 2023 | Check for updates
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Terms Used In Kansas Statutes 40-3602
- Contract: A legal written agreement that becomes binding when signed.
(a) Subject to the limitations specified in Kan. Stat. Ann. §§ 40-2906 and amendments thereto, an insurance agent shall have the right to offset unearned premiums for their insureds on payment of the agent’s account to an insolvent insurer as defined in Kan. Stat. Ann. §§ 40-2903 and amendments thereto.
(b) The provisions of any contract between an insurance agent and an insolvent insurer shall apply for the duration of all policies in effect and until all accounts are settled with the insolvent insurer.