Title XXIV — BUSINESS AND FINANCIAL INSTITUTIONS

382.510. Risk management framework to be maintained. — An insurer shall maintain a risk management framework to assist the insurer with identifying, assessing, monitoring, managing, and reporting on its material and relevant risks. Such requirement may be satisfied if the insuran…

382.515. ORSA to be conducted, when. — Subject to the provisions of section 382.525, an insurer or the insurance group of which the insurer is a member shall conduct an ORSA consistent with a process comparable to the ORSA guidance manual. An ORSA shall be conducted no less than …

382.520. ORSA summary report required, when, contents. — 1. Upon the director's request and no more than once each year, an insurer shall submit to the director an ORSA summary report or any combination of reports that together contain the information described in the ORSA guidan…

382.525. Exemptions — waiver — ORSA required, when. — 1. An insurer shall be exempt from the requirements of sections 382.500 to 382.550 if: (1) The insurer has annual direct written and unaffiliated assumed premium, including international direct and assumed premium but excludin…

382.530. ORSA summary report to be prepared consistent with ORSA guidance manual — review, procedures. — 1. An ORSA summary report shall be prepared consistent with the ORSA guidance manual, subject to the requirements of subsection 2 of this section. Documentation and supporting…

382.535. Information and ORSA summary report is proprietary and contains trade secrets, confidentiality — permissible acts by director — no waiver of confidentiality or privilege. — 1. Documents, materials, or other information, including the ORSA summary report, in the possessio…

382.540. Violation, failure to file ORSA summary report. — 1. Subject to subsection 1 of section 374.215, any insurer failing without just cause to timely file an ORSA summary report as required in sections 382.500 to 382.550 commits a level two violation under section 374.049 wi…

382.545. Severability clause. — If any provision of sections 382.500 to 382.550 or the application thereof to any person or circumstance is held invalid, such determination shall not affect the provisions or applications of sections 382.500 to 382.550 which may be given effect wi…

382.550. Effective date — first filing date. — Sections 382.500 to 382.550 shall become effective January 1, 2016. The first filing of ORSA summary reports shall be in 2016 in accordance with section 382.520. ­­-------- (L. 2015 H.B. 50) Effective 1-01-16

382.600. Purpose — applicability. — 1. The purpose of sections 382.600 to 382.640 is to: (1) Provide the director a summary of an insurer or insurance group's corporate governance structure, policies, and practices to permit the director to gain and maintain an understanding of t…

382.605. Definitions. — As used in sections 382.600 to 382.640, the following terms shall mean: (1) "Corporate governance annual disclosure" or "CGAD", a confidential report filed by the insurer or insurance group made in accordance with the requirements of sections 382.600 to 38…

382.610. CGAD submitted to director, when — attestation required — information may be provided — review of CGAD — duplication of information not required, when. — 1. An insurer, or the insurance group of which the insurer is a member, shall, before June first of each calendar yea…

382.615. CGAD inquiries, responses to — recordkeeping. — 1. The insurer or insurance group shall have discretion over the responses to the CGAD inquiries, provided that the CGAD shall contain the material information necessary to permit the director to gain an understanding of th…

382.620. Documents, materials, and information recognized by state as proprietary and containing trade secrets — confidentiality — director's authority and duties. — 1. Documents, materials, or other information, including the CGAD, in the possession or control of the department …

382.625. Third-party consultants permitted, when — limitation on scope of authority — confidentiality — conflict of interest — written agreement, contents. — 1. The director may retain, at the insurer's expense, third-party consultants, including attorneys, actuaries, accountants…

382.630. Failure to timely file, penalty — enforcement. — 1. Any insurer failing without just cause to timely file a CGAD as required under sections 382.600 to 382.640 commits a level two violation under section 374.049 for each day's delay; provided that, the total maximum fine …

382.635. Rulemaking authority. — The director may, upon notice and opportunity for all interested persons to be heard, issue such rules, regulations, and orders as shall be necessary to carry out the provisions of sections 382.600 to 382.640. Any rule or portion of a rule, as tha…

382.640. Severability clause. — If any provision of sections 382.600 to 382.640 or the application thereof to any person or circumstance is held invalid under the Constitution of the United States or the Constitution of the state of Missouri, such determination shall not affect t…

383.005. Definitions. — As used in this chapter, unless otherwise clearly indicated by the context, the following words mean: (1) "Department", the department of commerce and insurance; and (2) "Director", the director of the department of commerce and insurance. ­­-------- (L. 2…

383.010. Authority to form business entity to provide malpractice insurance — nonresidents may be members, when. — 1. Notwithstanding any direct or implied prohibitions in chapter 375, 377, or 379, any three or more persons, residents of this state, being licensed under the provi…

383.015. License fee — registered agent required — articles of association required, contents of — bylaws, provisions required and allowed. — 1. Any such group of persons desiring to provide malpractice insurance or indemnification for its members shall pay a license fee of one h…

383.016. Articles of association and bylaws, additional contents. — The articles of association and the bylaws of any association created under the provisions of sections 383.010 to 383.040 shall: (1) Specify and define the types of assessments, including but not limited to initi…

383.020. Director to issue license, when. — The director of the department of commerce and insurance shall, within thirty days after any such articles of association are filed with him, determine if the proposed association meets the requirements of sections 383.010 to 383.040, a…

383.025. Association to commence business, when — liability of members limited — business to be nonprofit, dividends may be paid, how. — The association may, on the seventh day thereafter, commence to do business. The association shall be a body corporate, and shall do business a…

383.030. Examination by director authorized — annual license fee — amendments to bylaws filed, when. — 1. The director shall be authorized in accordance with sections 374.202 to 374.207, or in the event that either or both of such sections are repealed, then any successor section…

383.033. Association treated as mutual insurance company, tax purposes. — A Missouri nonprofit corporation formed for the purpose of providing malpractice insurance upon the assessment plan pursuant to sections 383.010 to 383.041 shall be treated as a Missouri mutual insurance co…

383.035. Association subject to certain laws — grace period for certain associations, limitations — certification filed with annual statement — rules and regulations, director may promulgate — impaired association, director's powers, review of — rating plans, filing of. — 1. Any …

383.037. Rates, requirements. — The rates made by each association licensed pursuant to sections 383.010 to 383.040 shall be subject to the following provisions: (1) Rates shall not be excessive or inadequate, nor shall they be unfairly discriminatory; (2) No rate shall be held t…

383.040. Medical malpractice association exempt from premium tax. — No association organized pursuant to the provisions of sections 383.010 to 383.040 shall be required to pay any premium tax in connection with the conduct of its business. ­­-------- (L. 1975 S.B. 458 § 7) Effect…

383.060. Definitions. — As used in sections 383.060 to 383.069, the following terms mean: (1) "Director", the director of the department of commerce and insurance; (2) "Real estate malpractice insurance", insurance coverage against a civil liability arising against the insured re…

383.062. Reports of real estate malpractice, contents. — 1. Every insurer providing real estate malpractice insurance to persons, corporations, copartnerships or associations licensed under the provisions of chapter 339 and all employees of the foregoing acting in the course and …

383.067. Immunity granted person reporting and director. — There shall be no liability or cause of action of any nature against any insurer's agents or employees, or the director or his representatives, for any action taken pursuant to sections 383.060 to 383.069. ­­-------- (L. …

383.069. Confidentiality of information and reports. — None of the information reported, compiled or summarized pursuant to sections 383.060 to 383.069 shall be discoverable or admissible in any proceeding. ­­-------- (L. 1986 H.B. 1393 § 5)

383.075. Definitions. — As used in sections 383.075 to 383.083, the following terms mean: (1) "Director", the director of the department of commerce and insurance; (2) "Legal malpractice insurance", insurance coverage against a civil liability arising against the insured resultin…

383.077. Reports of legal malpractice claims, contents. — 1. Every insurer providing legal malpractice insurance to attorneys at law or a professional corporation duly engaged in the practice of law in Missouri and all employees of the foregoing acting in the course and scope of …

383.079. Duty of director to issue statistical summary. — The director shall compile a statistical summary of all data submitted and shall issue a public report to the Missouri Bar and the supreme court of the state of Missouri. ­­-------- (L. 1985 H.B. 657 & 337 § 3)

383.081. Immunity granted person reporting and director. — There shall be no liability or cause of action of any nature against any insurer's agents or employees, or the director or his representatives, for any action taken pursuant to sections 383.075 to 383.083. ­­-------- (L. …

383.083. Confidentiality of information and reports. — None of the information reported, compiled or summarized pursuant to sections 383.075 to 383.083 shall be discoverable or admissible in any proceeding. ­­-------- (L. 1985 H.B. 657 & 337 § 5)

383.100. Definitions. — As used in sections 383.100 to 383.125, the following terms mean: (1) "Director", the director shall be the director of the department of commerce and insurance; (2) "Health care provider" includes physicians, dentists, clinical psychologists, pharmacists,…

383.105. Report of medical malpractice claims by certain insurers, contents, insurer defined. — 1. Every insurer providing medical malpractice insurance to a Missouri health care provider and every health care provider who maintains professional liability coverage through a plan …

383.106. Reporting standards — risk reporting categories — information compiled — report of rates. — 1. To effectively monitor the insurance marketplace, rates, financial solvency, and affordability and availability of medical malpractice coverage, the director shall establish by…

383.107. Publication of market rate. — Not later than December 31, 2009, and at least annually thereafter, the director shall, utilizing the information provided pursuant to section 383.106, establish and publish a market rate reflecting the median of the actual rates charged for…

383.108. Publication of comparison of base rates. — The director shall, utilizing the information provided under section 383.106, publish comparisons of the base rates charged by each insurer actively writing medical malpractice insurance. ­­-------- (L. 2006 H.B. 1837)

383.110. Reports, when due, form of. — Such reports shall be made to the director of the department of commerce and insurance quarterly on dates and in the form to be determined by the director. ­­-------- (L. 1976 H.B. 1308 § 3, A.L. 1986 S.B. 663)

383.115. Information confidential, exception. — 1. Information submitted pursuant to subsection 2 of section 383.105, subdivisions (1), (3) and (6) shall be deemed to be confidential communication except as provided in section 383.125. 2. Statistics in summary form of the informa…

383.120. Immunity granted persons reporting and to director. — There shall be no liability on the part of and a cause of action of any nature shall not arise against an insurer reporting hereunder, or its agents or employees, or the director or his representatives, for any action…

383.124. Administrative orders for violations of state laws or rules — civil action for violations. — 1. If the director determines that a person has engaged, is engaging, or is about to engage in a violation of sections 383.100 to 383.125 or a rule adopted or order issued pursua…

383.125. Director to forward reported information to appropriate licensing board — further reports, contents, requirements. — The director shall, upon receipt, submit in writing the pertinent and appropriate data and information submitted pursuant to subsection 2 of section 383.1…

383.130. Definitions. — As used in sections 383.130 and 383.133, the following terms shall mean: (1) "Disciplinary action", any final action taken by the board of trustees or similarly empowered officials of a hospital, ambulatory surgical center, owner or operator of a temporary…

383.133. Reports by hospitals, ambulatory surgical centers, nursing homes, and licensing authorities, when, contents, limited use, penalty. — 1. The chief executive office or similarly empowered official of any hospital, ambulatory surgical center, as such terms are defined in ch…