HB 1292 | Makes several changes to insurance law |
CCS/SCS/HB 1292 - This act makes numerous changes to a variety of insurance laws.
MANAGED CARE INTERNET FORMS - Allows any managed care entity to provide documents and materials to an enrollee via the entity's Internet site, instead of in printed form, upon securing a waiver from the enrollee. The enrollee may revoke the waiver at any time.
BOXING INSURANCE - This act requires a professional boxing promoter to secure a cash bond of not less than $100,000 for each boxer participating in a professional boxing contest. The bond will cover any medical expense associated with a boxing injury and pay the boxer's estate if the boxing injury results in death. The bonding requirements shall not apply to not for profit organizations sponsoring boxing contests. This provision is similar to SB 553 (2000).
FIRE EDUCATION AND EQUIPMENT FUND - This act provides that, beginning July 1, 2001, five tenths of one percent of the premium taxes levied on insurance companies shall be credited to the Fire Education Fund. Currently, three percent of the amount collected which exceeds the premium taxes deposited in 1997 are credited to the Fund.
There is a cap of $1,500,000 cap which may be transferred to the Fire Education Fund. The first $300,000 will be used for fire education. The next $500,000 will be deposited in the fire district equipment fund. Any remaining funds will be used for fire education purposes.
The Fire District Equipment Fund is established to provide funds to fire protection districts and volunteer fire protection associations serving an area having a population of less than 10,000. Each fire protection district or volunteer association may apply to the division of fire safety for a grant to purchase equipment. All grant determinations made by the division of fire safety are final. This provision is similar to SB 739 (2000).
EXPUNGEMENT OF RECORDS - This act permits the Director of the Department of Insurance to expunge public records kept by the department regarding a disciplinary action against an insurance agent or broker involving a voluntary forfeiture of $200 or less, upon the request of the agent. A decision by the director to not expunge a record is deemed an exhaustion of all administrative remedies, permitting the agent to file an action in circuit court to seek such expungement. This provision is similar to HB 1148 (2000).
RECIPROCITY OF INSURANCE LICENSING - This act also revises the law regarding the licensing of out-of-state insurance agents and brokers. The Director of Insurance shall not charge a nonresident a greater fee for an insurance license simply because he or she resides out of Missouri. An application for a license shall be waived if the person has a valid license from another state and that state grants Missouri residents the same privilege. The completion of continuing education requirements in another state will satisfy Missouri's requirements.
REHABILITATORS AND LIQUIDATORS - This act revises the powers and duties of the rehabilitator and liquidator in insurance company insolvency proceedings.
REHABILITATOR'S AND LIQUIDATOR'S EMPLOYEES - The Director may hire employees to assist him in his duties as rehabilitator but no employee hired shall not be related within the second degree by blood or marriage to the rehabilitator, the special duty rehabilitator, or to any law firm or consulting firm receiving fees from the insurer's assets. The liquidator's employees, legal counsel and other personnel shall not be related within the first degree by blood or marriage to the liquidator, special duty liquidator, or any law firm or other persons receiving fees from the insurer's assets.
CONFLICT OF DUTY - The attorney who serves as a special duty rehabilitator may not serve as counsel to the rehabilitator or to the company undergoing rehabilitation.
CRIMINAL INVESTIGATION - The rehabilitator may pursue all appropriate legal remedies, upon court approval, if it appears that there has been criminal or tortious conduct committed. The court shall not approve the pursuit of legal remedies by the rehabilitator unless it finds that the costs and benefits of such investigation will exceed its costs. The court may impose conditions on the rehabilitator's pursuit of legal remedies to conserve the insurer's estate.
ATTORNEY GENERAL AND APPEALS - No attorney other than the Attorney General may appear on behalf of the rehabilitator in the court of appeals or the supreme court when the issue involves a lower court opinion or order.
SPECIAL DEPUTY REHABILITATOR - A special deputy may not serve in the rehabilitation of an insurance company if he or she represented that insurer before. The liquidator and rehabilitator provisions are similar to SB 1019 (2000).
CONTINGENT LIABILITY CLAIMS - This act extends the sunset clause on section 375.1220 which allows the estimation of contingent liability claims in receivership proceedings for the purpose of fixing a creditor's claim in the estate. The sunset is extended four years, from 2000 to 2004. This provision is similar to SB 929 (2000).
AUTHORIZATION OF HEALTH CARE SERVICES - This act prohibits a health carrier from retracting its authorization of health care services unless that health carrier's coverage is secondary to other valid insurance coverage. Prohibits a health carrier from retracting its authorization of services unless the person's coverage under the plan has exceeded the person's annual or lifetime benefit limit. These provisions do not apply to accident only, specified disease, hospital indemnity, Medicare supplement, long term care, disability income of other limited benefit health insurance policies. This provision is similar to SB 860 (2000).
BENEFICIARY DESIGNATIONS - This act provides that the statutory presumption which holds that the beneficiary designations made to a former spouse are revoked upon the date of the marriage dissolution shall only apply to beneficiary designations made on or after August 28, 1989. This provision is similar to SB 859 (2000).
REGISTERED NURSE FIRST ASSISTANT - This act defines who a registered nurse first assistant is; states that the Missouri Board of Nursing shall promulgate rules regarding their certification, and requires insurance companies to refer to this section for the definition of a registered nurse first assistant for reimbursement purposes. This section does not mandate coverage for services provided by a RFNA, but an insurance company may not deny coverage based on lack of statutory recognition. This provision is similar to SB 574 (2000).
STANDARDIZED FORMS - This act requires health insurance carriers to use standardized forms for the explanation of benefits and referrals. Health carriers and providers are required to use the standardized forms by January 1, 2003. The standardized forms shall be developed by a task force established by the Department of Insurance. This portion of the act is similar to SB 120 (1999).
SURPLUS LINES INSURANCE - Amends the bonding amount required for
insurance brokers selling surplus lines insurance so as to be the
smaller of $100,000 or an amount equal to the broker's tax
liability for the previous tax year. Currently, a bond of
$10,000 is required. This provision is similar to HB 1597
(2000).
STEPHEN WITTE