SB 779 - This act modifies provisions relating to the regulation of residual insurance market entities. MISSOURI AUTOMOBILE INSURANCE PLAN This act modifies existing law regarding apportionment of substandard insurance risks to create the Missouri Automobile Insurance Plan ("MOAIP"). Under the act, MOAIP is authorized to issue motor vehicle insurance policies to applicants who are unable to procure motor vehicle liability policies through ordinary methods, rather than funding issuance of the policies through other insurers. The act further specifies that the Director of the Department of Commerce and Insurance (the "Director") shall consult with insurance companies "having a certificate of authority to do business in the state and actively writing motor vehicle liability policies" regarding the plan, rather than insurance companies "authorized to issue automobile liability policies". (Section 303.200.1). MOAIP shall perform its functions under a plan of operation, approved by the Director, and through a board of governors as prescribed in the plan of operation. (Section 303.200.2). The plan of operation shall prescribe the issuance of motor vehicle insurance policies, which may include the administration of the policies by a third party, as specified in the act. (Section 303.200.3). The act requires MOAIP to obtain approval from the Director before using forms, rates, or manuals. (Section 303.200.4). MOAIP is subject to the applicable insurance laws of this state unless specifically exempted (section 303.200.5), is required to file annual financial reports and to be subject to examination by the Director, and shall have the authority to make assessments on member insurance companies in proportion to their market share. (Section 303.200.6). Member insurers and members of the governing committee shall be immune from liability for omissions and actions taken in the performance of their powers and duties under the act. (Section 303.200.7) MISSOURI BASIC PROPERTY INSURANCE INSPECTION AND PLACEMENT PROGRAM This act also modifies the Missouri Basic Property Insurance Inspection and Placement Program. Under the act, ten of the members of the program's governing committee shall be elected as specified in the program's plan of operation, rather than prescribing entities from which the members shall be elected. (Section 379.860.2). Member insurers and members of the governing committee shall be immune from liability for omissions and actions taken in the performance of their powers and duties under the act. (Section 379.860.4) MEDICAL MALPRACTICE JOINT UNDERWRITING ASSOCIATION The act modifies the authority to create a medical malpractice insurance joint underwriting association by specifying that the composition of the association's board of directors shall be established by its plan of operation (section 383.155.6), and provides that member insurers and members of the governing committee shall be immune from liability for omissions and actions taken in the performance of their powers and duties under the act. (Section 383.155.9). Under the act, all policies of insurance written by the association shall be written to "provide medical malpractice insurance coverage as provided in the plan of operation", rather than to "apply to injury which results from acts or omissions occurring during the policy period. (Section 383.160.1). Lastly, the act specifies that the association's board of directors shall be established by its plan of operation, rather than prescribing entities from which the members shall be elected. (Section 383.175) ERIC VANDER WEERD