HS HCS HB 1198 -- INSURANCE BROKERS, AGENTS, AND ADMINISTRATORS
(Auer)

This substitute allows an insurance company to notify the
Department of Insurance of the designation of a licensed
agency.  The designation of an agency will appoint all current
and subsequent agents listed by that agency to act for the
insurance company.  The substitute also allows the Department of
Insurance to fix the same anniversary date for a person's agent
and broker licenses.  Further, the substitute requires the
Department of Insurance to waive the broker examination
requirement for a Missouri resident licensed in multiple lines
of insurance for 5 or more years.  Finally, the substitute
excludes a claims adjuster who works for a licensed workers'
compensation insurer from the definition of an insurance policy
administrator.

FISCAL NOTE:  Estimated Net Cost to Insurance Dedicated Fund of
$167,750 in FY 1999, $92,750 in FY 2000, and $92,750 in FY 2001.

HCS HB 1198 -- INSURANCE AGENTS

SPONSOR:  Auer

COMMITTEE ACTION:  Voted "do pass" by the Committee on Insurance
by a vote of 13 to 1.

This substitute allows an insurance company to notify the
Department of Insurance of the designation of a licensed
agency.  The designation of an agency will appoint all current
and subsequent agents listed by that agency to act for the
insurance company.  The substitute also allows the Department of
Insurance to fix the same anniversary date for a person's agent
and broker licenses.  Further, the substitute allows the
Department of Insurance to waive the broker examination
requirement for a person licensed in multiple lines of insurance.

FISCAL NOTE:  Estimated Net Cost to Insurance Dedicated Fund of
$100,000 in FY 1999, $25,000 and FY 2000, and $25,000 in FY 2001.

PROPONENTS:  Supporters of the bill say that the provisions of
the bill improve practices for insurance companies and agents
doing business in Missouri.

Testifying for the bill was Representative Auer.

OPPONENTS:  There was no opposition voiced to the committee.

Marty Romitti, Legislative Analyst

HB 1198 -- Appointments of Insurance Agents

Sponsor:  Auer

This bill allows an insurance company to notify the Department
of Insurance of the appointment of a licensed agency.  The
appointment of an agency will appoint all current and subsequent
agents listed by that agency to act for the insurance company.

The bill also allows the department to change anniversary dates
for insurance agent and insurance broker licenses.
Specifically, license anniversary dates can change to coincide
with each agent or broker's initial license anniversary date.