KANSAS INSURANCE COMMISSIONER TAKING CONTROL OF MALPRACTICE INSURER

The Kansas insurance commissioner will take supervisory control of a company that provides malpractice insurance to nearly 500 medical professionals in Missouri and Kansas.

A Shawnee County judge last week placed Physicians Standard Insurance Company in rehabilitation mode with Kansas regulators. The action comes after Kansas Insurance Commissioner Vicki Schmidt filed a petition seeking the action, with the consent of the company’s board of directors.

The Topeka Capital-Journal reports company’s financial condition has declined since 2018 but the order gives PSIC the chance to remain solvent while working to rehabilitate its situation…

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