Missouri Revised Statutes













Chapter 384

Surplus Lines Insurance

←384.021

Section 384.023.1

384.025→

August 28, 2015

Unlisted nonadmitted insurers may be used for coverage, when--requirements.

384.023. Risk eligible for export may be placed with any other

nonadmitted insurer which does not appear on the list of eligible surplus

lines insurers published by the director pursuant to subdivision (2) of

subsection 1 of section 384.021 but nonetheless meets the requirements set

forth in subdivision (1) of subsection 1 of section 384.021 and related

complying regulations of the director. The surplus lines licensee seeking

to provide coverage through an unlisted nonadmitted insurer shall make a

filing specifying the amount and percentage of each risk to be placed, and

naming the nonadmitted insurer with which placement is intended and shall

pay the tax due pursuant to section 384.059. Within twenty days after

placing the coverage, the surplus lines licensee shall also send written

notice to the insured or the producing broker that the insurance, or a

portion thereof, has been placed with such nonadmitted insurer.



(L. 1987 H.B. 700 § 4, A.L. 2014 H.B. 1361)





1991



1991



384.023. Only that portion of any risk eligible for export for which the

full amount of coverage is not procurable from eligible surplus lines

insurers may be placed with any other nonadmitted insurer which does not

appear on the list of eligible surplus lines insurers published by the

director pursuant to subdivision (4) of section 384.021 but nonetheless meets

the requirements set forth in subdivisions (1) to (3) of section 384.021 and

any regulations of the director. The surplus lines licensee seeking to

provide coverage through an unlisted nonadmitted insurer shall make a filing

specifying the amount and percentage of each risk to be placed, and naming

the nonadmitted insurer with which placement is intended. Within twenty days

after placing the coverage, the surplus lines licensee shall also send written

notice to the insured or the producing broker that the insurance, or a

portion thereof, has been placed with such nonadmitted insurer.



Top



Missouri General Assembly



Copyright © Missouri Legislature, all rights reserved.