reglab/statecodes huggingface dataset:
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 100 - Insurer Conduct › Chapter 8 - Market Conduct Examination › Section 20 CSR 100-8.020

Current through Register Vol. 49, No. 14, July 15, 2024
*Original authority: 374.045, RSMo 1967, amended 1993,
					 1995; 375.948, RSMo 1959, amended 1978, 1991; and 375.1018, RSMo
					 1991.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 100 - Insurer Conduct › Chapter 8 - Market Conduct Examination › Section 20 CSR 100-8.040 - Insurer Record Retention

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This amendment clarifies standards for
				  maintaining insurance records in compliance with Missouri law.
PURPOSE: This rule describes the requirements for
				  record keeping for insurers and related entities doing business in this state.
				  This regulation was adopted pursuant to the provisions of section
				  374.045,
				  RSMo and to implement sections
				  287.350,
				  354.190,
				  354.465,
				  374.190, 374.210, 375.158, 374.205, 379.343, and 379.475, RSMo and 144.027,
				  354.149, 354.717, 375.022, 375.150, 375.151, 375.926, 375.932, 375.938,
				  375.1002, and 375.1009, RSMo.
(1) As used in this rule, the terms and
				phrases mean as follows:
(A) "Application,"
				any written or electronic application form, any enrollment form, any document
				used to add coverage under any existing policy, any questionnaire, telephone
				interview form, paramedical interview form, or any other document used to
				question or underwrite an applicant for any policy issued by an insurer or for
				any declination of coverage by an insurer. "Application" does not include
				documents, questionnaires or notes generated in response to a request for a
				premium quote which did not result in an application for coverage;
(B) "Business entity," as that term is
				defined in section 375.012.1(1), RSMo;
(C) "Claim," as that term is defined in
				section
				20 CSR
				100-1.010(1)(B);
(D) "Examiner," a market conduct examiner
				authorized by the director to conduct an examination pursuant to section
				374.202.2(4), RSMo;
(E) "Inquiry,"
				a specific question, criticism or request made in writing to an insurer by a
				market conduct examiner duly appointed by the director;
(F) "Insurer," as that term is defined in
				section
				375.932 or
				375.1002, RSMo;
				and
(G) "Policy," as that term is
				defined in section
				375.932(5),
				RSMo.
The term "policy" also includes any evidence of coverage
				  issued by a health maintenance organization to an enrollee.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 1 - Financial Solvency and Accounting Standards › Section 20 CSR 200-1.005 - Materials to be Utilized by the Director

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This amendment maintains clear guidance on
				  publications used by the department while removing references to specific
				  editions of the publications in the rule, thereby ensuring that the most recent
				  publication will be in effect.
PURPOSE: The purpose of this rule is to effectuate or
				  aid in the interpretation of any law of this state pertaining to the business
				  of insurance, by providing specific information regarding certain publications
				  utilized by the director in the furtherance of his or her statutory duties and
				  referenced in rules in this division.
(1) The director may utilize the following
				publications of the National Association of Insurance Commissioners (NAIC) in
				the furtherance of his or her statutory duties:
(A) Accounting Practices and Procedures
				Manual, also referred to as the Accounting Practices and Procedures Manual for
				Fire and Casualty Insurance Companies and as the Accounting Practices and
				Procedures Manual for Life and Accident and Health Insurance
				Companies;
(B) Annual Statement
				Instructions;
(C) Purposes and
				Procedures Manual of the NAIC Investment Analysis Office, also referred to as
				the Valuation of Securities;
(D)
				Financial Condition Examiners Handbook, also referred to as the Examiner's
				Handbook; and
(E) Financial
				Analysis Handbook.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 1 - Financial Solvency and Accounting Standards › Section 20 CSR 200-1.010

Current through Register Vol. 49, No. 14, July 15, 2024
*Original authority: 374.040, RSMo 1939, amended 1967;
					 374.045, RSMo 1967, amended 1993, 1995; 374.190, RSMo 1939, amended 1949, 1967,
					 1992; and Chapter 375, see Revised Statutes of Missouri, 2000 and Supp.
					 2001.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 1 - Financial Solvency and Accounting Standards › Section 20 CSR 200-1.020 - Accounting Standards and Principles

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule effectuates or aids in the
				  interpretation of sections
				  354.470,
				  375.537,
				  375.539,
				  375.881, 375.1160, 375.1165, and 375.1175, RSMo, and in the administration of
				  sections
				  354.080
				  and
				  354.355,
				  RSMo.
(1) Each insurance
				company shall make and file statements of its assets, liabilities, capital and
				surplus, income and expenses, including all schedules and exhibits used in
				connection with such statements, which statements the director may use to
				determine any of the following according to the applicable accounting guidance,
				standards, and principles approved by the National Association of Insurance
				Commissioners (NAIC), published in the Accounting Practices and Procedures
				Manual, Annual Statement Instructions, Valuation of Securities, Examiner's
				Handbook, and Financial Analysis Handbook, except where the applicable
				provisions of Chapters 374- 385, RSMo or other specific rules expressly provide
				otherwise:
(A) Whether an insurance company
				is impaired under section
				375.537,
				RSMo;
(B) Whether any standards are
				implicated under section 375.539.2, RSMo;
(C) Whether an insurance company is insolvent
				under section
				375.881(1)
				or
				375.1175.1(2),
				RSMo;
(D) Whether an insurance
				company fails to comply with the requirements for admission under section
				375.881(2),
				RSMo;
(E) Whether an insurance
				company is in such a financial condition that its further transaction of
				business in this state would be hazardous to policyholders and creditors in
				this state and to the public under section
				375.881(3),
				RSMo;
(F) Whether an insurance
				company's condition renders the continuance of its business hazardous to the
				public or to its insureds under section 375.1160.2(1)(a), RSMo;
(G) Whether an insurance company is in such
				condition that the further transaction of business would be hazardous
				financially to its policyholders, creditors, or the public under section
				375.1165(1),
				RSMo; and
(H) Whether an insurance
				company is found to be in such condition that the further transaction of
				business would be hazardous, financially or otherwise, to its policyholders,
				its creditors or the public under section 375.1175.1(3),
				RSMo.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 1 - Financial Solvency and Accounting Standards › Section 20 CSR 200-1.025 - Valuation of Invested Assets

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This amendment updates a statutory reference
				  and simplifies a reference to publications of the National Association of
				  Insurance Commissioners.
PURPOSE: This rule effectuates or aids in the
				  interpretation of sections 376.291-376.307 and
				  379.080,
				  RSMo.
(1) Securities.
				Securities owned by insurance companies must be valued in accordance with those
				standards promulgated by the Valuation of Securities Office of the National
				Association of Insurance Commissioners (NAIC) as published in its
Valuation of Securities.
(2) Other Invested Assets. Invested assets,
				other than securities, must be valued in accordance with the procedures
				published in the NAIC Accounting Practices and Procedures Manual, Annual
				Statement Instructions and Examiner's Handbook.
*Original authority: 374.045, RSMo 1967, amended 1993,
					 1995.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 1 - Financial Solvency and Accounting Standards › Section 20 CSR 200-1.030 - Financial Statement and Electronic Filing

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule prescribes forms to be followed in
				  proceedings before the Department of Commerce and Insurance regarding annual
				  statements and effectuates or aids in the interpretation of sections
				  287.710,
				  354.105,
				  354.435,
				  354.720, 375.041, 375.786, 375.1030, 375.1037, 375.1047, 375.1082, 375.1252,
				  376.350, 376.370, 376.1012, 376.1092, 376.1093, 377.100, 377.380, 378.350,
				  379.105, 380.051, 380.482, 382.110, 383.030, and 384.021, RSMo.
(1) Each health services corporation, health
				maintenance organization (HMO), stock or mutual life insurance company,
				assessment or stipulated premium plan life insurance company, fraternal benefit
				society, stock or mutual insurance company other than life, Chapter 383
				assessment company, reciprocal and eligible surplus lines insurer, and each
				accredited or qualified reinsurer shall file a sworn annual statement on or
				before March 1 of each year, for its business and affairs for the year ended
				the next previous December 31, in accordance with the National Association of
				Insurance Commissioners (NAIC) Annual Statement Blank and the instructions for
				it, or in accordance with any other form as the director expressly permits to
				the entity. This statement also shall be prepared in accordance with the
				applicable accounting standards or principles approved by the NAIC, published
				in the
Accounting Practices and Procedures Manual, Valuation of
				Securities
or
Examiner's Handbook
, or a combination
				of these, except where the applicable provisions of Chapters 354 and 374-385,
				RSMo, or other specific rules expressly provide otherwise.
(A) For entities domiciled in Missouri, one
				(1) signed original and one (1) hard copy of the annual statement shall be
				filed with the Missouri department's office in Jefferson City and one (1) hard
				copy shall be filed with the NAIC's Kansas City office; provided, however, that
				for domiciled companies doing business in seventeen (17) or more states, for
				life and health insurers writing fifty (50) million dollars or more in gross
				premium, and for property and casualty insurers writing thirty (30) million
				dollars or more in gross premium, an additional hard copy also shall be filed
				with the NAIC's office in Kansas City, Missouri, but only upon the written
				request of the NAIC. The annual statements should be signed by officers of the
				company as required by applicable Missouri law.
(B) Each entity, whether foreign or domestic,
				shall file electronically all annual statement information with the NAIC's
				office in Kansas City, Missouri. The electronic filing shall be prepared under
				the NAIC's guidelines.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 1 - Financial Solvency and Accounting Standards › Section 20 CSR 200-1.035 - Diversity and Liquidity Requirements for Assets Portfolios of Property and Liability Insurers (Rescinded)

Current through Register Vol. 49, No. 14, July 15, 2024
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 1 - Financial Solvency and Accounting Standards › Section 20 CSR 200-1.037 - Supplemental Annual Filing Requirements

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule prescribes the use of supplemental
				  forms to be filed by either fire and casualty insurers or life, accident and
				  health insurers. These forms will take the so-called state page data currently
				  required under the National Association of Insurance Commissioners'
				  requirements and break this data down into more specific classes for the
				  various different type of policies written. This rule aids in the
				  interpretation of sections
				  376.350 and
				  379.105,
				  RSMo.
PUBLISHER'S NOTE: The secretary of state has
				  determined that the publication of the entire text of the material which is
				  incorporated by reference as a portion of this rule would be unduly cumbersome
				  or expensive. Therefore, the material which is so incorporated is on file with
				  the agency who filed this rule, and with the Office of the Secretary of State.
				  Any interested person may view this material at either agency's headquarters or
				  the same will be made available at the Office of the Secretary of State at a
				  cost not to exceed actual cost of copy reproduction. The entire text of the
				  rule is printed here. This note refers only to the incorporated by reference
				  material.
(1) In addition to
				the financial statement and diskette filing requirements set forth in 20 CSR
				200-1.030, entities issued a Certificate of Authority with the Missouri
				Department of Insurance, as part of their Annual Statement, also shall file
				supplemental forms as follows:
(A) Those
				insurers filing in accordance with the accounting standards or principles
				approved by the National Association of Insurance Commissioners' (NAIC) and
				published in the
Accounting Practices and Procedures Manual for Fire
				and Casualty Insurance Companies
shall also file the form set forth in
				Appendix A of this rule; and
(B)
				Those insurers filing in accordance with the accounting standards or principles
				approved by the NAIC and published in the
Accounting Practices and
				Procedures Manual for Life and Accident and Health Insurance Companies
shall also file the form set forth in Appendix B of this rule.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 1 - Financial Solvency and Accounting Standards › Section 20 CSR 200-1.039

Current through Register Vol. 49, No. 14, July 15, 2024
*Original authority: 354.120, RSMo 1973, amended 1983,
					 1993, 1995; 354.485, RSMo 1983; 354.723, RSMo 1987; 374.045, RSMo 1967, amended
					 1993, 1995; and 375.013, RSMo 1993, amended
					 1995.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 1 - Financial Solvency and Accounting Standards › Section 20 CSR 200-1.040 - Financial Standards for Health Maintenance Organizations

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule implements sections 354.410,
				  354.415, 354.450, 354.455, 354.470.1(4) and 354.480, RSMo as this rule is
				  necessary and proper to carry out the provisions of sections 354.400-354.550,
				  RSMo
(1) A health maintenance
				organization (HMO) must maintain a capital account pursuant to section
				354.410.6, RSMo. The capital account is the equivalent of net worth and shall
				be equal to the assets of the HMO less its liabilities, which is also the
				equivalent of "net of any accrued liabilities" as used in section 354.410.6,
				RSMo. Assets and liabilities will be admitted and determined under the
				provisions of this rule.
(2) Assets
				of an HMO will be admitted and included in determining the financial condition
				of the HMO only if included within one (1) or more of the following list of
				admissible assets:
(A) Investable funds under
				section
				354.450,
				RSMo are as follows:
1. Any asset or
				investment described in and limited by sections 376.291-376.307, RSMo;
				and
2. Any asset or investment
				described in and limited by section 354.415.1(1), RSMo. The requirements of
				section 354.415.2, RSMo apply as detailed in the statute; and
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 1 - Financial Solvency and Accounting Standards › Section 20 CSR 200-1.050 - Financial Standards for Prepaid Dental Plans

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This amendment modernizes the rule and
				  removes outdated and unnecessary provisions.
(1) Assets of a prepaid dental plan will be
				admitted and included in determining the financial condition of the prepaid
				dental plan only if included within one (1) or more of the following list of
				admissible assets:
(A) Investable funds
				invested as follows:
1. Any asset or
				investment described in and limited by sections 376.291-376.307, RSMo;
				and
2. Any asset or investment
				representing the purchase, lease, construction, renovation, operation or
				maintenance of facilities from which dental benefits under the plan will be
				performed or property as may reasonably be needed for the principal office of
				the prepaid dental plan or for other purposes as may be necessary in the
				transaction of the business of the plan; and
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 1 - Financial Solvency and Accounting Standards › Section 20 CSR 200-1.060 - Chapter 383 Malpractice Associations and Financial Condition (Rescinded)

Current through Register Vol. 49, No. 14, July 15, 2024
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 1 - Financial Solvency and Accounting Standards › Section 20 CSR 200-1.070 - Subordinated Indebtedness

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This amendment modernizes the rule and
				  removes outdated and unnecessary language.
PURPOSE: This rule specifies information to be
				  submitted to the director for prior approval of subordinated indebtedness
				  agreements, the form of consideration for these agreements and the accounting
				  procedures to be followed. This rule implements sections
				  354.355,
				  354.480,
				  375.535,
				  375.539, and 381.075, RSMo.
(1) Application. This rule applies to all
				health service corporations, health maintenance organizations (HMOs), insurance
				companies, and reciprocal interinsurance exchanges organized under the laws of
				this state and is applicable to any debts other than those shown as a legal
				liability of the company. Notwithstanding any other provision to the contrary,
				no company or other entity which has the power to assess its members may issue
				any subordinated indebtedness unless it is a mutual company organized under
				Chapter 379, RSMo.
(2) Definition,
				Subordinated Indebtedness (Surplus Notes). Subordinated indebtedness, for the
				purposes of this rule includes any contingent obligation for the repayment of a
				sum of money upon a written agreement that the loan or advance with interest
				shall be repaid only out of surplus profits of the company, as defined at
				20 CSR
				200-11.150(2), or as deemed necessary
				by the director of insurance to secure the interests of the policyhold-ers and
				creditors of this company.
(3)
				Approval by the Director.
(A) The following
				shall be submitted to the director for prior approval:
1. Duplicate copies of the entire
				subordinated indebtedness agreement; and
2. Certified copy of the resolution of the
				board of directors or committee which is empowered to authorize these
				agreements. The resolution shall stipulate the maximum amount of subordinated
				indebtedness authorized and the purpose for which it is incurred. It also shall
				limit the application of the proceeds to the specific purpose for which the
				subordinated indebtedness is incurred.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 1 - Financial Solvency and Accounting Standards › Section 20 CSR 200-1.080 - Salvage and Subrogation Recovered (Rescinded)

Current through Register Vol. 49, No. 14, July 15, 2024
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 1 - Financial Solvency and Accounting Standards › Section 20 CSR 200-1.090 - Mortgage Loans as Admissible Assets

Current through Register Vol. 49, No. 14, July 15, 2024
(Moved to
				  20 CSR
				  200-13.200 )
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 1 - Financial Solvency and Accounting Standards › Section 20 CSR 200-1.100 - Real Estate Held After Ten Years

Current through Register Vol. 49, No. 14, July 15, 2024
(Moved to
				  20 CSR
				  200-13.300 )
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 1 - Financial Solvency and Accounting Standards › Section 20 CSR 200-1.105 - Property and Casualty Actuarial Opinions

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule prescribes forms and procedures to
				  be followed by insurance companies other than life obtaining the certification
				  of an actuary and to effectuate or aid in the interpretation of the provisions
				  of section
				  375.1060,
				  RSMo, by providing guidance as to the actuarial opinion to be obtained by an
				  insurance company other than life.
(1) Statement of Actuarial Opinion. Every
				property and casualty insurance company doing business in this state, unless
				otherwise exempted by its domiciliary commissioner, shall file with its annual
				statement the actuarial certification required by section
				375.1060,
				RSMo. This certification shall consist of the opinion of an appointed actuary
				entitled a "Statement of Actuarial Opinion." This opinion shall be filed in
				accordance with the appropriate property and casualty annual statement
				instructions of the National Association of Insurance Commissioners
				(NAIC).
(2) In support of the
				Statement of Actuarial Opinion, each property and casualty company shall
				prepare or cause to be prepared, and if required, retain and file with the
				director, each of the following:
(A) Actuarial
				Opinion Summary.
1. Every property and
				casualty insurance company domiciled in this state that is required to submit a
				Statement of Actuarial Opinion shall annually submit an Actuarial Opinion
				Summary, written by the company's appointed actuary. This Actuarial Opinion
				Summary shall be filed in accordance with the appropriate NAIC property and
				casualty annual statement instructions and shall be considered as a document
				supporting the Statement of Actuarial Opinion required in section
				(1).
2. An insurance company
				licensed but not domiciled in this state shall provide the Actuarial Opinion
				Summary upon request; and
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 1 - Financial Solvency and Accounting Standards › Section 20 CSR 200-1.120

Current through Register Vol. 49, No. 14, July 15, 2024
*Original authority: 374.045, RSMo 1967; 376.300, RSMo
					 1939, amended 1943, 1945, 1945, 1949, 1953, 1961, 1963, 1973, 1979, 1982, 1985;
					 and 379.080, RSMo 1939, amended 1943, 1947, 1963, 1977, 1981, 1982, 1985, 1987,
					 1989, 1993.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 1 - Financial Solvency and Accounting Standards › Section 20 CSR 200-1.140 - Minimum Valuation Standards for Life, Accident and Health and Annuity Contracts

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule specifies standards for valuation
				  of specifically identified life insurance, health and accident insurance
				  policies. This rule was adopted pursuant to the provisions of section
				  374.045,
				  RSMo and implements sections
				  376.380,
				  376.390,
				  376.405,
				  376.410 and 376.670, RSMo.
(1) Life Insurance.
(A) Group Insurance.
1. Yearly renewable term life insurance
				(including waiver of premium and accidental death benefits).
A. Gross
pro rata
unearned
				premium method.
B. The
				Commissioners 1960 Standards Group Mortality Table with interest as specified
				in section
				376.380,
				RSMo.
C. Any other valuation basis
				producing higher reserves.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 1 - Financial Solvency and Accounting Standards › Section 20 CSR 200-1.150

Current through Register Vol. 49, No. 14, July 15, 2024
*Original authority: 374.045, RSMo 1967, amended 1993;
					 375.1032, RSMo 1991, amended 1992; and 375.1037 and 375.1045, RSMo
					 1991.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 1 - Financial Solvency and Accounting Standards › Section 20 CSR 200-1.160 - Valuation of Life Insurance Policies

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE
:
The purpose of this
				  regulation is to provide:
1)
tables of select mortality factors and rules for their use; 2) rules
				concerning a minimum standard for the valuation of plans with nonlevel premiums
				or benefits; and 3) rules concerning a minimum standard for the valuation of
				plans with secondary guarantees. The method for calculating basic reserves
				defined in this regulation will constitute the Commissioners' Reserve Valuation
				Method for policies to which this regulation is applicable.
(1) Applicability. This rule shall apply to
				all life insurance policies, with or without nonforfeiture values, issued on or
				after the effective date of this rule, subject to the following exceptions and
				conditions:
(A) Exceptions.
1. This rule shall not apply to any
				individual life insurance policy issued on or after the effective date of this
				rule if the policy is issued in accordance with and as a result of the exercise
				of a reentry provision contained in the original life insurance policy of the
				same or greater face amount, issued before the effective date of this rule,
				that guarantees the premium rates of the new policy. This rule also shall not
				apply to subsequent policies issued as a result of the exercise of such a
				provision, or a derivation of the provision, in the new policy.
2. This rule shall not apply to any universal
				life policy that meets all the following requirements:
A. Secondary guarantee period, if any, is
				five (5) years or less;
B.
				Specified premium for the secondary guarantee period is not less than the net
				level reserve premium for the secondary guarantee period based on the CSO
				valuation tables as defined in subsection (2)(F) and the applicable valuation
				interest rate; and
C. The initial
				surrender charge is not less than one hundred percent (100%) of the first year
				annualized specified premium for the secondary guarantee period.
3. This rule shall not apply to
				any variable life insurance policy that provides for life insurance, the amount
				or duration of which varies according to the investment experience of any
				separate account or accounts.
4.
				This rule shall not apply to any variable universal life insurance policy that
				provides for life insurance, the amount or duration of which varies according
				to the investment experience of any separate account or accounts.
5. This rule shall not apply to a group life
				insurance certificate unless the certificate provides for a stated or implied
				schedule of maximum gross premiums required in order to continue coverage in
				force for a period in excess of one (1) year.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 1 - Financial Solvency and Accounting Standards › Section 20 CSR 200-1.170 - Derivatives for Replication Transactions

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule sets forth methods of disclosure,
				  reserving for risk-based capital and determining the asset valuation reserve
				  for derivative instruments used for replication transactions.
(1) An insurer may use derivatives for
				replication transactions as permitted pursuant to section
				375.345,
				RSMo. An insurer engaging in replication transactions shall:
(A) Comply with the following requirements:
1. The disclosure and annual and quarterly
				statement reporting of such replication transactions;
2. The inclusion of such transaction in the
				insurer's Risk Based Capital (RBC) Report (as required by sections 375.1250-
				375.1275, RSMo); and
3. If
				applicable, the calculation and reporting of the asset valuation reserve for
				such transaction;
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 2 - Reinsurance and Assumptions › Section 20 CSR 200-2.200

Current through Register Vol. 49, No. 14, July 15, 2024
*Original authority: 374.045, RSMo 1967, amended 1993 and
					 375.241, RSMo 1939, amended 1967, 1975.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 2 - Reinsurance and Assumptions › Section 20 CSR 200-2.300 - Life Reinsurance Agreements

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule effectuates or aids in the
				  interpretation of sections
				  375.246,
				  375.560,
				  375.881
				  and 376.350, RSMo.
(1)
				Authority. This rule is adopted and promulgated by the director of the
				Department of Commerce and Insurance pursuant to section 374.045.1(3), RSMo.
				This rule effectuates or aids in the interpretation of sections
				375.246,
				375.560,
				375.881
				and 376.350, RSMo.
(2) Ceding
				Insurers.
(A) The Missouri Department of
				Commerce and Insurance (DCI) recognizes that life insurers routinely enter into
				reinsurance agreements that yield legitimate relief to the ceding insurer from
				strain to surplus.
(B) However, it
				is improper for a licensed insurer, in the capacity of ceding insurer, to enter
				into reinsurance agreements for the principal purpose of producing significant
				surplus aid for the ceding insurer, typically on a temporary basis, while not
				transferring all of the significant risks inherent in the business being
				reinsured. In substance or effect, the expected potential liability to the
				ceding insurer remains basically unchanged by the reinsurance transaction,
				notwithstanding certain risk elements in the reinsurance agreement, such as
				catastrophic mortality or extraordinary survival. The terms of the agreements
				referred to in this rule and described in section (4) would violate-
1. Section
				376.350, RSMo
				relating to financial statements which do not properly reflect the financial
				condition of the ceding insurer;
2.
				Section 375.246.1., RSMo relating to reinsurance reserve credits, thus
				resulting in a ceding insurer improperly reducing liabilities or establishing
				assets for reinsurance ceded; and
3.
				Sections 375.560.1(5),
				375.881.1(3),
				375.1160.2(1), 375.1165(1) and 375.1175(3), RSMo relating to creating a
				situation that may be hazardous to policyholders and the people of this
				state.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 2 - Reinsurance and Assumptions › Section 20 CSR 200-2.400 - Insurance, Reinsurance and Assumption

Current through Register Vol. 49, No. 14, July 15, 2024
(Rescinded September 30, 1994)
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 2 - Reinsurance and Assumptions › Section 20 CSR 200-2.500 - Reinsurance Requiring Three-Commissioner Hearing

Current through Register Vol. 49, No. 14, July 15, 2024
(Rescinded September 30, 1994)
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 2 - Reinsurance and Assumptions › Section 20 CSR 200-2.600 - Reinsurance Intermediary License

Current through Register Vol. 49, No. 14, July 15, 2024
(Moved to
				  20 CSR
				  700-7.100 )
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 2 - Reinsurance and Assumptions › Section 20 CSR 200-2.700

Current through Register Vol. 49, No. 14, July 15, 2024
*Original authority: 374.045, RSMo 1967, amended 1993,
					 1995.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 2 - Reinsurance and Assumptions › Section 20 CSR 200-2.800 - Assumption Reinsurance

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This amendment restructures and simplifies
				  the rule, and removes language that is unnecessary due to identical or similar
				  statutory provisions.
(1) A
				summary in writing shall be submitted addressing each of the factors in section
				375.1287.2(5)(a)-(d) and (f), RSMo.
(2) If either the transferring insurer or the assuming
				insurer is a Missouri domestic, or is from a state that does not have a
				reinsurance assumption law substantially similar to that of Missouri, the
				following documentation shall be submitted to the department for approval of
				the assumption:
(A) Certificate of
				Assumption;
(B) Copy of Notice of
				Transfer, including items referenced as attachments, and Response
				Card;
(C) Copy of Assumption
				Reinsurance Agreement and Approval from all domiciliary states other than
				Missouri;
(D) Financial data
				pursuant to section 375.1287.1(2)(i), RSMo;
(E) Terms and type of financing related to the
				purchase price; and
(F) Pro forma
				financial statements reflecting the financial condition of both insurers before
				and after the proposed transaction as of the effective date of the transaction.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 3 - Insurance Taxes Other Than Surplus Lines › Section 20 CSR 200-3.010 - Reporting of Flexible Payment Deferred Annuity Contract Premiums

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This amendment removes unnecessary and
				  outdated language from the rule.
PURPOSE: This rule recognizes that flexible payment
				  deferred annuities differ from traditional fully guaranteed fixed-premium,
				  fixed-benefit annuity contracts in that the full risk on the contract may be
				  indeterminable and not attach to the insurer, and the total premium is not paid
				  until it is applied to provide annuity payment.
(1) Definition. A flexible payment deferred
				annuity is defined as a contract which provides for the payment of a guaranteed
				or variable annuity, or both, with the amount of the annuity determined not at
				date of issue but at the annuity commencement date and by the value at that
				time of the total payments made. The number of these payments are not specified
				in the contract, but are determined by the contract holder within a range
				acceptable to the insurance company. These contracts may also specify
				guaranteed minimum nonforfeiture values and annuity rate guarantees either for
				the life of the contract or guaranteed lesser period.
(2) Reporting Premiums for Premium Tax
				Purposes. Insurers writing flexible payment deferred annuities as defined may
				consider as premiums received for those contracts, within the meaning of
				sections 148.310-148.430, RSMo, the amount actually applied at the annuity
				commencement date to provide the annuity. The premiums received shall be equal
				to the value of the contract on the annuity commencement date applied to
				provide a guaranteed or variable annuity.
(3) Insurers Previously Reporting Under
				Paid-In Approach.
(A) Any insurer previously
				reporting premiums on the paid-in approach (that is, reported the premium upon
				receipt), in the event of withdrawal of funds before their application to an
				annuity, may deduct the amount withdrawn as return of premiums with the meaning
				of sections 148.310-148.430, RSMo. Any insurer so reporting shall make a
				separate return showing the amounts of funds withdrawn, the tax year for which
				premium tax was paid on those funds and the date reported for taxation
				purposes.
(B) If an insurer using
				the paid-in approach subsequently adopts the pay-out approach or vice versa, it
				shall so signify on the premium tax return covering premiums for that calendar
				year.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 3 - Insurance Taxes Other Than Surplus Lines › Section 20 CSR 200-3.300 - Retaliatory Tax Supplement Filing

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: The purpose of this rule is to effectuate or
				  aid in the interpretation of section
				  375.916,
				  RSMo, as that section relates to fees charged for the appointment and
				  termination of appointment of insurance producers.
(1) On or before February 10 of each year,
				each foreign insurer authorized to transact the business of insurance in this
				state shall file a statement with the director that contains the following
				information with respect to the year ended December 31 immediately preceding:
(A) The total number of insurance producers
				appointed by the insurer who are authorized to sell, solicit or negotiate
				contracts of insurance in this state on behalf of the insurer as of January 1
				of such year; and
(B) The number of
				insurance producers added during such year to the register required by section
				375.022,
				RSMo; and
(C) The number of
				insurance producers terminated during such year from such register;
				and
(D) The total number of
				insurance producers appointed by the insurer as of December 31 of such year
				(such number shall equal the sum of subsections (A) and (B) less subsection (C)
				of this section); and
(E) A
				schedule of fees charged by the insurer's state or country of domicile for the
				appointment, termination, or renewal of appointment of insurance
				producers.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 5 - Articles and Bylaws of Domestic Insurers › Section 20 CSR 200-5.010 - Amendment and Restatement of Articles

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This amendment simplifies and modernizes the
				  rule, and amends the rule to provide for a streamlined process to amend and
				  restate articles of incorporation or association.
(1) Forms.
Forms to be used by any insurance company organized or
				  incorporated under the laws of this state to amend, restate, or amend and
				  restate its articles of incorporation or association, if that company is
				  subject to sections 375.201- 375.226, RSMo, are available on the department's
				  website or by contacting the department.
(2) Procedures.
(A) The procedure for amending the articles
				of incorporation or association of an insurance company organized or
				incorporated under the laws of this state is stated in sections
				375.201-375.221, RSMo.
(B) The
				procedure for restating the articles of incorporation or association of an
				insurance company organized or incorporated under the laws of this state is
				stated in section
				375.226,
				RSMo.
(C) Amending and restating the
				articles of incorporation or association of an insurance company organized or
				incorporated under the laws of this state may be accomplished
				simultaneously.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 5 - Articles and Bylaws of Domestic Insurers › Appendix 1 - Certificate of Amendment of Articles (to be executed in triplicate)

Current through Register Vol. 49, No. 14, July 15, 2024
Click to view
				  pdf
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 5 - Articles and Bylaws of Domestic Insurers › Appendix 2 - Certificate of Restated Articles (to be executed in triplicate)

Current through Register Vol. 49, No. 14, July 15, 2024
Click to view
				  pdf
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 6 - Surplus Lines › Section 20 CSR 200-6.100 - Surplus Lines Insurance Forms

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule prescribes forms to be followed in
				  making filings pursuant to section
				  384.057,
				  RSMo, and effectuates or aids in the interpretation of sections
				  384.017(2)
				  and 384.057, RSMo.
(1) Forms.
(A) Surplus Lines Filing Report-Appendix 1 is
				the method prescribed by the director of the department for filing the
				quarterly reports pursuant to section
				384.057,
				RSMo. The Surplus Lines Filing Report-Appendix 1 data must be filed
				electronically using the systems, software, and/or method prescribed by the
				director.
(B) Surplus Lines
				Licensee's Tax Report-Appendix 3 is the method prescribed by the director of
				the department for filing the annual report pursuant to section
				384.057,
				RSMo. The Surplus Lines Licensee's Tax Report-Appendix 3 data must be filed
				electronically using the systems, software, and/or method prescribed by the
				director.
(C) Information and
				instructions on submitting the reports electronically are available at the
				department's website,
www.insurance.mo.gov
.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 6 - Surplus Lines › Section 20 CSR 200-6.300 - Surplus Lines Insurance Fees and Taxes

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule clarifies and effectuates the
				  provisions of Chapter 384, RSMo as amended by Senate Bill 250 in the First
				  Regular Session of the 85th General Assembly with regard to the premium charged
				  by surplus lines insurers. This rule is pursuant to the provisions of sections
				  374.045,
				  384.051,
				  384.057
				  and 384.059, RSMo.
(1) For
				purposes of determining net premiums, as that term is used in sections
				384.051,
				384.057
				and
				384.059,
				RSMo, the gross amount of charges for surplus lines insurance shall include any
				fee charged to the insured and paid to the surplus lines insurer or surplus
				lines licensee for the placement of the surplus lines insurance.
				Notwithstanding the provisions of section (4) of this rule, any compensation
				received by the surplus lines licensee will be considered premium for purposes
				of the premium tax imposed by sections
				384.051
				and
				384.059,
				RSMo, unless all the following conditions are met:
(A) The surplus lines licensee is also the
				retail insurance producer (i.e., the surplus lines licensee has the primary
				direct relationship with the prospective policyholder); and
(B) The surplus lines licensee's compensation
				is received pursuant to an insurance producer's agreement as permitted by
				20 CSR
				700-1.100; and
(C) The amount of compensation excludable
				from the application of such premium tax does not exceed the amount of
				compensation such licensee would have received under such licensee's insurance
				producer service agreement if surplus lines insurance was not
				involved.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 6 - Surplus Lines › Section 20 CSR 200-6.400

Current through Register Vol. 49, No. 14, July 15, 2024
*Original authority: 374.045, RSMo 1967 and 384.061, RSMo
					 1967, amended 1989.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 6 - Surplus Lines › Section 20 CSR 200-6.500

Current through Register Vol. 49, No. 14, July 15, 2024
*Original authority: 374.045, RSMo 1967, amended 1993, 1995
					 and 384.017, RSMo 1987, amended 1989.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 6 - Surplus Lines › Section 20 CSR 200-6.700 - Procedures for Forming and Operating a Missouri Domestic Surplus Lines Insurer

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: The purpose of this rule is to prescribe
				  procedures to be followed in applications for a certificate of authority to
				  form and operate a Missouri domestic surplus lines insurer. This rule also
				  effectuates and aids in the interpretation of section
				  384.018,
				  RSMo.
(1) The procedures
				outlined in this section are the procedures required for the successful
				formation of a Missouri domestic surplus lines insurer authorized to write any
				kind of insurance that a nonadmitted insurer not domiciled in Missouri is
				eligible to write.
(A) The insurer must be
				admitted and domiciled in Missouri. Any foreign insurance company or
				incorporators wishing to become or form a Missouri domestic surplus lines
				insurer must satisfy this requirement in one (1) of the two (2) following
				manners:
1. Any foreign insurance company
				wishing to become a Missouri domestic surplus lines insurer must first
				redomesticate to Missouri pursuant to the procedures outlined in section
				375.908,
				RSMo, and
				20 CSR
				200-17.300; or
2. Any incorporators wishing to form a
				Missouri domestic surplus lines insurer must first form a Missouri domestic
				insurance company pursuant to the procedures outlined in sections
				379.010-379.065, RSMo (insurance companies other than life), and
				20
				CSR 200-17.100.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 7 - Security Deposits › Section 20 CSR 200-7.100 - Corporate Bonds and Notes as Admissible Deposits

Current through Register Vol. 49, No. 14, July 15, 2024
(Rescinded May 6, 1993)