SCS/HB 1468 - This act modifies a provision regarding the Missouri Property and Casualty Insurance Guaranty Association. This act modifies the time when covered claims must be filed with the association, liquidator or insurer for claims subject to a final order of liquidation issued on or after September 1, 2000. This act allows the association to require information to confirm the existence of a covered claim.

This act clarifies the definition of "health benefit plan" as that term is used in the laws governing insurance, stating that the term does not include workers' compensation or liability insurance policies (HB 1446).

This act includes commercial inland marine insurance within definition of "commercial property".

This act modifies the law regarding the Director's approval of commercial casualty insurance filings. This act removes the language stating that a filing not approved or disapproved within a 60-day period is deemed approved. This act also requires commercial casualty insurance rates shall not be excessive.

This act modifies the law regarding actuarial data to accompany casualty insurance rates. Under the current law, such data must accompany every rating plan or filing. Under this act, such supporting data is only necessary if the Director requests the data to determine whether the rates are excessive, inadequate, or unfairly discriminatory.

This act deletes a provision from the law which exempted commercial property insurance and commercial casualty insurance policies from certain provisions of the law which concern regulation by the department of policy language, policy provisions or the format of such policies, or the rates associated with such policies.
STEPHEN WITTE