reglab/statecodes huggingface dataset:
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 18 - Warranties and Service Contracts › Section 20 CSR 200-18.110 - Registration of Service Contract Providers (Non-Motor Vehicle)

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule effectuates the provisions of
				  sections
				  385.300 to
				  385.320, RSMo,
				  regarding the registration of all service contract providers in this
				  state.
(1) Each service
				contract provider shall register with the director on a form provided by the
				director, prior to issuing any service contracts and annually thereafter
				between January 1 and February 1 of each year by completing and filing an
				application for service contract provider registration.
(2) Each completed and filed application for
				registration must be accompanied by payment of a registration fee of three
				hundred dollars ($300).
(3) Copies
				of the application for service contract provider registration form, are
				available at the department's office, at the department website,
www.insurance.mo.gov
, or by
				mailing a written request to the Department of Commerce and Insurance, PO Box
				690, Jefferson City, MO 65102.
(4)
				For purposes of this rule and rule
				20 CSR
				200-18.020, the term "provider" refers only to the
				party that is contractually obligated to provide service under a service
				contract. Such term does not refer to an administrator or seller of the product
				that is not so obligated.
*Original authority: 385.318, RSMo
					 2007.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 18 - Warranties and Service Contracts › Section 20 CSR 200-18.120 - Faithful Performance of a Service Contract Provider's Obligations (Non-Motor Vehicle)

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This proposed amendment revises and
				  restructures rules relating to assurances of faithful performance required
				  under section 385.302.4, RSMo.
(1) Each provider who is contractually
				obligated to the service contract holder under the terms of a service contract
				is responsible for maintaining proof of its assurances of faithful performance
				and its continuing compliance with the requirements of section
				385.302,
				RSMo, with the director.
(2) The
				following applies to reimbursement insurance policies used to assure the
				faithful performance of a provider's obligations to its contract holders as set
				forth in section 385.302.4(3), RSMo:
(A) Any
				such policy is acceptable only if it is issued by an insurance company
				authorized, registered, or otherwise permitted to transact liability insurance
				in this state, or a surplus lines insurer authorized pursuant to the laws of
				this state and which insurer meets the surplus requirements of section
				385.302.4(4), RSMo. As used in this paragraph, the term "insurance company
				authorized to transact insurance in this state" includes a financially
				responsible risk retention group (RRG) meeting the following requirements:
1. Such RRG is registered in good standing
				with the director pursuant to sections 375.1080-375.1105, RSMo;
2. Such RRG is not in a hazardous financial
				condition; and is not in a hazardous financial condition; and
3. Such RRG is authorized to transact
				liability insurance in this state.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 19 - Discount Medical Plans › Section 20 CSR 200-19.020 - Scope and Definitions

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This amendment updates and removes
				  unnecessary language.
(1) The
				rules in this chapter apply to discount medical plan organizations transacting
				business under sections
				376.1500 to
				376.1532,
				RSMo. The rules are to be read together with Chapter 536, RSMo.
(2) The definitions located in section
				376.1500, RSMo apply
				to the rules in this chapter.
*Original authority: 374.045, RSMo 1967, amended 1993, 1995
					 and 376.1528, RSMo 2007.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 19 - Discount Medical Plans › Section 20 CSR 200-19.050 - Registration

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This amendment modifies and removes
				  unnecessary language.
(1)
				Registration Forms. The following form has been adopted and approved for filing
				with the department:
(A) The Discount Medical
				Plan Organization Registration form (Form DM-1).
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 19 - Discount Medical Plans › Section 20 CSR 200-19.060 - Net Worth Requirements

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This amendment removes unnecessary language
				  and relaxes a regulatory restriction.
(1) The net worth referenced in section
				376.1518,
				RSMo shall be determined according to generally accepted accounting principles
				(GAAP) or the statutory statement of accounting principles (SSAP).
(2) The net worth requirement is ongoing and
				subject to review by the director through examination. Each discount medical
				plan organization is required to demonstrate it meets the requirement at
				registration and at annual renewal.
(A)
				Registration. At the time of registration, each discount medical plan
				organization will demonstrate that it meets the net worth requirement according
				to GAAP or SSAP by one (1) of the following means:
1. A report of an audit by an independent
				certified public accountant (CPA). Such report must include:
A. Either-
(I) The statement of profit or loss, balance
				sheet, and statement of cash flows of the discount medical plan organization as
				of a date not more than twelve (12) months prior to the date of such
				organization's registration; or
(II) The consolidated statement of profit or
				loss, balance sheet, and statement of cash flows of the discount medical plan
				organization and entities affiliated with the discount medical plan
				organization as of a date not more than twelve (12) months prior to the date of
				such organization's registration, as well as the consolidating worksheets that
				specifically show the account entries of the discount medical plan organization
				itself and which reconcile to such consolidated statement of profit or loss,
				balance sheet, and statement of cash flows; and
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 20 - Captive Insurance Companies › Section 20 CSR 200-20.010 - Scope and Definitions

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This amendment makes corrections to the rule
				  and removes unnecessary language.
(1) Applicability of Rules. The rules in this
				chapter apply to captive insurance companies transacting business under
				sections
				379.1300 to
				379.1350,
				RSMo and special purpose life reinsurance captives transacting business under
				sections
				379.1353 to
				379.1421,
				RSMo. The rules are to be read together with Chapter 536, RSMo.
(2) Definitions.
(A) "Company," captive insurance company or
				companies, including a special purpose life reinsurance captive (SPLRC) unless
				otherwise specified.
(B)
				"Director," the director of the department.
(C) "Department," the Department of
				Insurance, Financial Institutions and Professional Registration.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 20 - Captive Insurance Companies › Section 20 CSR 200-20.020 - Forms

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule sets out the forms which may be
				  used in the regulation of captive insurance companies in this
				  chapter.
(1) The following
				forms are suggested, not mandatory, for filing with the department:
(A) Captive Application for Admission (Form
				CI-1), revised on October 1, 2007, or any form which substantially comports
				with the specified form;
(B)
				Captive Irrevocable Letter of Credit (Form CI-2), revised on October 1, 2007,
				or any form which substantially comports with the specified form;
(C) Captive Application for Authorization as
				an Independent Certified Public Accountant (CPA) (Form CI-3) revised on October
				1, 2007, or any form which substantially comports with the specified
				form;
(D) Captive Application for
				Authorization to Certify Reserves (Form CI-4), revised on October 1, 2007, or
				any form which substantially comports with the specified form; and
(E) Missouri Captive Insurance Premium Tax
				Return (Form CI-5), revised on October 1, 2007, or any form which substantially
				comports with the specified form.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 20 - Captive Insurance Companies › Section 20 CSR 200-20.030 - Admission

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This amendment clarifies and simplifies the
				  rule.
(1) Application and
				Fees. Application for admission as a captive insurance company will contain the
				information outlined in sections
				379.1300 to
				379.1350
				or
				379.1353 to 379.1421,
				RSMo by filing with the director-
(A) Initial
				Admission:
1. A completed Form
				CI-1;
2. A license fee of seven
				thousand five hundred dollars ($7,500) for a company; and
3. An application fee of ten thousand dollars
				($10,000) for a special purpose life reinsurance captive;
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 20 - Captive Insurance Companies › Section 20 CSR 200-20.040 - Financial Requirements

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This amendment clarifies the rule and
				  relaxes certain restrictions.
(1) Annual Reporting Requirements.
(A) An association captive insurance company
				doing business in this state shall annually submit to the director a report of
				its financial condition, verified by oath of two (2) of its executive officers.
				The report shall be prepared in accordance with section
				375.041,
				RSMo.
(B) A pure or industrial
				insured captive insurance company doing business in this state shall annually
				submit to the director a report of its financial condition, verified by oath of
				two (2) of its executive officers. Except as otherwise approved by the
				director, the report shall:
1. Be prepared on
				the basis of generally accepted accounting principles consistently applied;
				and
2. Consist of a:
A. Balance sheet;
B. Statement of gain or loss from
				operations;
C. Statement of cash
				flows;
D. Statement of changes in
				financial position;
E. Statement of
				changes in capital paid up, gross paid in and contributed surplus and
				unassigned funds (surplus); and
F.
				Notes to financial statements. The notes to financial statements shall be those
				required by generally accepted accounting principles, and shall include:
(I) A summary of ownership and relationship
				of the company and all affiliated corporations or companies insured by the
				captive; and
(II) A narrative
				explanation of all material transactions and balances with the company.
(C)
				A special purpose life reinsurance captive (SPLRC) doing business in this state
				shall annually submit on or before March 1 of each year a report of its
				financial condition, verified by oath of two (2) of its executive officers. The
				report shall be prepared in accordance with section
				375.041,
				RSMo.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 20 - Captive Insurance Companies › Section 20 CSR 200-20.050 - Management and Control

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This amendment clarifies and simplifies the
				  rule by removing duplicative language.
(1) Directors. Every company shall report to
				the director within thirty (30) days after any change in its executive officers
				or directors, including in its report a statement of the business and
				professional affiliations of any new executive officer or director. No
				director, officer, or employee of a company shall, except on behalf of the
				company, accept, or be the beneficiary of, any fee, brokerage, gift, or other
				emolument because of any investment, loan, deposit, purchase, sale, payment, or
				exchange made by or for the company but such person may receive reasonable
				compensation for necessary services rendered to the company in his or her usual
				private, professional, or business capacity. Any profit or gain received by or
				on behalf of any person in violation of this section inures to and is
				recoverable by the company.
(2)
				Conflict of Interest. In addition to the investment of funds in section (1) of
				this rule, each company chartered in this state is required to adopt a conflict
				of interest statement from officers, directors, and key employees. Such
				statement shall disclose that the individual has no outside commitments,
				personal or otherwise, that would divert him from his duty to further the
				interests of the company he represents but this does not preclude such person
				from being a director or officer in more than one (1) insurance company. Each
				officer, director, and key employee shall file such disclosure with the board
				of directors yearly.
*Original authority: 374.045, RSMo 1967, amended 1993,
					 1995; 379.1328, RSMo 2007; and 379.1421, RSMo 2007
					 .
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 20 - Captive Insurance Companies › Section 20 CSR 200-20.060 - Revocation, Suspension or Rescission of Company Authority

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: The purpose of this rule is to set forth the
				  procedures for revoking, suspending or cancelling the license of captive
				  insurance companies.
(1) The
				director may enter an order suspending or revoking the license of a company
				pursuant to section
				379.1316,
				RSMo. The proceeding will be governed by rule
				20 CSR
				800-1.010, et seq.
(2) In addition to the authority in section
				379.1316,
				RSMo, the director may, subject to the provisions of this section, by order
				rescind the authority of the company:
(A) If
				the company has not commenced business according to its plan of operation
				within two (2) years of being licensed; or
(B) If the company ceases to carry on
				insurance business in or from within this state; or
(C) At the request of the company.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 21 - Corporate Governance Annual Disclosure › Section 20 CSR 200-21.300 - Definitions

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule sets forth the definitions that
				  apply to the Corporate Governance Annual Disclosure and deemed necessary by the
				  director to carry out the provisions of sections
				  375.1025,
				  375.1053,
				  375.1056,
				  375.1058 and 382.600-382.640. RSMo. The information in this rule is declared
				  necessary and appropriate in the public interest and for the protection of the
				  policy holders of this state
(1) "Director" means the director of the
				Department of Commerce and Insurance.
(2) "Insurance group" means, for purpose of
				this rule, those insurers and affiliates included within an insurance holding
				company system as defined in sections 382.010-382.300, RSMo.
(3) "Insurer" shall have the same meaning as
				set forth in section
				375.012, RSMo, except
				that it shall not include agencies, authorities or instrumentalities of the
				United States, its possessions and territories, the Commonwealth of Puerto
				Rico, the District of Columbia, or a state or political subdivision of a
				state.
(4) "Senior Management"
				means any corporate officer responsible for reporting information to the board
				of directors at regular intervals or providing information to shareholders or
				regulators and shall include, for example and without limitation, the Chief
				Executive Officer (CEO), Chief Financial Officer (CFO), Chief Operations
				Officer (COO), Chief Procurement Officer (CPO), Chief Legal Officer (CLO),
				Chief Information Officer (CIO), Chief Technology Officer (CTO), Chief Revenue
				Officer (CRO), Chief Visionary Officer (CVO), or any other "C" level
				executive.
(5) "CGAD" means
				Corporate Governance Annual Disclosure form as in 20 CSR
				200-21.300-20 CSR 200-21.600.
*Original authority: 382.615, RSMo 2018 and 382.635, RSMo
					 2018.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 21 - Corporate Governance Annual Disclosure › Section 20 CSR 200-21.500 - Contents of Corporate Governance Annual Disclosure

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule sets forth the required contents
				  of the CGAD deemed necessary by the director to carry out the provisions of
				  sections 3751025.,
				  3751052.,
				  3751056., 375.1058 and
				  382.600-382.640. RSMo. The information in this rule is declared necessary and
				  appropriate in the public interest and for the protection of the policy holders
				  of this state.
(1) The
				insurer or insurance group shall be as descriptive as possible in completing
				the Corporate Governance Annual Disclosure (CGAD), with inclusion of
				attachments or example documents that are used in the governance process, since
				these may provide a means to demonstrate the strengths of their governance
				framework and practices.
(2) The
				CGAD shall describe the insurer's or insurance group's corporate governance
				framework and structure including consideration of the following:
(A) The board and various committees thereof
				ultimately responsible for overseeing the insurer or insurance group and the
				level(s) at which that oversight occurs (e.g., ultimate control level,
				intermediate holding company, legal entity, etc.). The insurer or insurance
				group shall describe and discuss the rationale for the current board size and
				structure; and
(B) The duties of
				the board and each of its significant committees and how they are governed
				(e.g., bylaws, charters, informal mandates, etc.), as well as how the board's
				leadership is structured, including a discussion of the roles of Chief
				Executive Officer (CEO) and Chairman of the Board within the
				organization.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 21 - Corporate Governance Annual Disclosure › Section 20 CSR 200-21.600 - Severability Clause

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule provides for the severability of
				  the provisions of this rule in the event any provision of these rules, or the
				  application of these rules, is held invalid.
If any provision of these rules, or the application thereof
				  to any person or circumstance, is held invalid, such determination shall not
				  affect other provisions or applications of these rules which can be given
				  effect without the invalid provision or application, and to that end the
				  provisions of these rules are severable.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 200 - Insurance Solvency and Company Regulation › Chapter 22 - Pharmacy Benefits Managers › Section 20 CSR 200-22.010 - Licensing Procedures for Pharmacy Benefits Managers

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule prescribes the license application
				  process and fee required for Pharmacy Benefits Managers. All forms referenced
				  in this regulation may be accessed at the department's website at
www.insurance.mo.gov/pbm/pbm-form.php
.
				  This rule is adopted pursuant to sections
				  374.045,
				  374.230,
				  RSMo and implements section
				  376.393,
				  RSMo.
(1) Any entity required
				to be licensed as a pharmacy benefits manager pursuant to section
				376.393,
				RSMo, shall submit to the department a completed application form, found at
www.insurance.mo.gov/pbm/pbm-form.php
,
				and a one thousand dollar ($1,000) application fee. A pharmacy benefits manager
				license shall be effective for one (1) year from the date it is issued by the
				department.
(2) Entities seeking
				renewal of their pharmacy benefits manager license shall submit to the
				department a completed application form found at
				www.insurance.mo.gov/pbm/pbm-form.php and a one thousand dollar ($1,000)
				application fee.
(3) All pharmacy
				benefits managers must notify the department of any changes in application
				information supplied to the department within sixty (60) calendar days of the
				date of the change.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 400 - Life, Annuities and Health › Chapter 1 - Life Insurance and Annuity Standards › Section 20 CSR 400-1.020 - Variable Contracts Other Than Life

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule establishes some requirements for
				  variable contracts other than life including establishment of separate
				  accounts, contents of presentation and agent qualification. This rule was
				  adopted pursuant to the provisions of sections
				  374.045(4)
				  and (5),
				  376.309,
				  376.590, 376.670 and 376.675, RSMo.
(1) Definitions.
(A) The term variable contract, when used in
				this rule, shall mean any group or individual contract or policy issued by a
				life insurance company providing for the dollar amount of benefits or other
				contractual payments or values thereunder to vary so as to reflect the
				investment results of any designated separate account(s), as defined in section
				376.309,
				RSMo in which amounts received in connection with any such contracts shall have
				been placed. This shall not include variable life contracts subject to
				20 CSR
				400-1.030.
(B) Insurance producer, when used in this
				rule, shall mean any person who under the laws of this state is required to be
				and is licensed as a life insurance producer.
(C) Variable contract insurance producer,
				when used in this rule, shall mean an insurance producer who shall sell or
				offer to sell any variable contract.
(D) A satisfactory alternative examination to
				Part I of the written examination called for by paragraph (8)(G)1. shall
				include any securities examination which is declared by the director to be an
				equivalent examination on the basis of content and administration. The
				following examinations are deemed to be a satisfactory alternative examination:
1. Any state securities sales examination
				accepted by the Securities and Exchange Commission;
2. The National Association of Securities
				Dealers, Inc., Examination for Principals or Examination for Qualification as a
				Registered Representative;
3. The
				various securities examinations required by the New York Stock Exchange, the
				American Stock Exchange, Pacific Stock Exchange or any other registered
				national exchange;
4. The
				Securities and Exchange Commission test given pursuant to section 15(b)(8) of
				the Securities Exchange Act of 1934; and
5. The examination recommended for the
				testing of variable contract insurance producers by the National Association of
				Insurance Commissioners (NAIC), when adopted by the insurance department of any
				state or territory of the United States and approved for use by the department
				by the Securities and Exchange Commission.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 400 - Life, Annuities and Health › Chapter 1 - Life Insurance and Annuity Standards › Section 20 CSR 400-1.060 - Stipulated Premium Companies

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule establishes specific notice
				  requirements for stipulated premium plan life insurance. This rule was adopted
				  pursuant to the provisions of section
				  374.045,
				  RSMo and to implement sections 377.199- 377.460, RSMo.
(1) All policies issued by stipulated premium
				companies in this state must carry the following wording on the first page:
				"This policy is issued in accordance with the provisions of the Stipulated
				Premium Law sections 377.199-377.460, RSMo."
(2) All life insurance policies issued under
				the Stipulated Premium Law may contain the following provision if reserve
				deposits are maintained with this department: "Approved securities covering the
				net reserve on this policy are on deposit with the Department of Commerce and
				Insurance of the state of Missouri."
(3) The inclusion of the section (2)
				provision is optional with each company, except for policies issued under the
				provisions of section
				377.270,
				RSMo, in which case reserve deposits shall be required and the inclusion of
				that provision on these policies shall be mandatory.
*Original authority: 374.045, RSMo 1967; 377.199, RSMo
					 1959; 377.200, RSMo 1939, amended 1949, 1967; 377.210, RSMo 1939; 377.220, RSMo
					 1939, amended 1963; 377.230-377.300, RSMo 1939; 377.310, RSMo 1939, amended
					 1949, 1992; and 377.320-377.460, RSMo
					 1939.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 400 - Life, Annuities and Health › Chapter 1 - Life Insurance and Annuity Standards › Section 20 CSR 400-1.070 - Assessment Life and Accident Companies

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule requires that a mandatory
				  statement be included in the first page of all assessment policies. It also
				  requires that notice be given to assessment policyholders concerning the
				  apportionment of assessed payments. This rule was adopted pursuant to the
				  provisions of section
				  374.045,
				  RSMo and to implement section
				  377.080,
				  RSMo.
(1) All policies issued
				by assessment life and accident insurance companies in this state must carry
				the following wording on the first page: "This policy is issued in accordance
				with the provisions of the Assessment Law, sections
				377.010
				through
				377.190,
				RSMo."
(2) Consistent with the
				provisions of section
				377.080,
				RSMo, each notice sent to members of an Assessment Plan Association, which is a
				call for payments, must state the exact percentage the assessment that is to be
				apportioned to the different funds. The following wording on the notice will be
				required: ". . .percent (or amount) of this assessment will be placed in the
				expense fund and. . .percent (or amount) in the benefit fund."
(3) No Assessment Plan Association shall
				transfer funds collected for one (1) purpose to another fund collected for a
				different purpose without an action by the board of directors and then only
				subject to the approval of the director of insurance.
*Original authority: 374.045, RSMo 1967 and 377.080, RSMo
					 1939, amended 1992.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 400 - Life, Annuities and Health › Chapter 1 - Life Insurance and Annuity Standards › Section 20 CSR 400-1.080 - War Risk and Aviation Exclusion Clauses

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule requires notice of any war risk or
				  aviation exclusions in a life insurance policy, pursuant to the provisions of
				  section
				  374.045,
				  RSMo and to implement section
				  376.675,
				  RSMo.
(1) Any policy of life
				insurance issued in this state containing any special war risk and aviation
				exclusion provisions, notwithstanding any prior approval, must have printed or
				stamped across its face, in type size no less prominent than the type size used
				to provide added emphasis in other areas of the policy, all the following
				statements:
(A) "READ YOUR POLICY CAREFULLY
				"
(B) "CERTAIN (WAR, AVIATION)
				RlSKS ARE NOT ASSUMED." (State which or both)
(C) "IN CASE OF ANY DOUBT WRITE YOUR COMPANY
				FOR FURTHER EXPLANATION."
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 400 - Life, Annuities and Health › Chapter 1 - Life Insurance and Annuity Standards › Section 20 CSR 400-1.090 - Policy Loan Interest Rate Provisions

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule establishes the terms and
				  conditions of policy loan interest rate provisions pursuant to section
				  376.672,
				  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) Definitions.
(A) Policy shall mean any policy, contract or
				certificate containing a provision for policy loans issued by a life insurance
				company or a fraternal benefit society in this state.
(B) Published monthly average means-
1.
The Moody's Corporate Bond Yield
				Average-Monthly Average Corporates
as published by Moody's Investors
				Service, Inc. or any successor to it; or
2. In the event that
The Moody's
				Corporate Bond Yield Average-Monthly Average Corporates
is no longer
				published, a substantially similar average, established by the
				director.
(C) Policy
				loan includes any premium loan made under a policy to pay one (1) or more
				premiums that were not paid to the life insurer or fraternal benefit society as
				they fell due.
(D) Policyholder
				includes the owner of the policy or the person designated to pay premiums as
				shown on the records of the life insurer or fraternal benefit
				society.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 400 - Life, Annuities and Health › Chapter 1 - Life Insurance and Annuity Standards › Section 20 CSR 400-1.100 - Universal Life

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule supplements existing regulations
				  on life insurance policies in order to accommodate the development and issuance
				  of universal life insurance plans.
(1) Definitions.
(A) Universal life insurance policy means a
				life insurance policy where separately identified interest credits (other than
				in connection with dividend accumulations, premium deposit funds or other
				supplementary accounts) and mortality and expense charges are made to the
				policy. A universal life insurance policy may provide for other credits and
				charges, such as charges for the cost of benefits provided by rider.
(B) Flexible premium universal life insurance
				policy means a universal life insurance policy which permits the policyholder
				to vary, independently of each other, the amount or timing of one (1) or more
				premium payments or the amount of insurance.
(C) Fixed premium universal life insurance
				policy means a universal life insurance policy other than a flexible premium
				universal life insurance policy.
(D) Interest-indexed universal life insurance
				policy means any universal life insurance policy where the interest credits are
				linked to an external referent.
(E)
				Net cash surrender value means the maximum amount payable to the policy owner
				upon surrender.
(F) Cash surrender
				value means the net cash surrender value plus any amounts outstanding as policy
				loans.
(G) Policy value means the
				amount to which separately identified interest credits and mortality, expense
				or other charges are made under a universal life insurance policy.
(H) Director means the insurance director of
				this state.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 400 - Life, Annuities and Health › Chapter 1 - Life Insurance and Annuity Standards › Section 20 CSR 400-1.110 - Alternative Mortality Tables for Minimum Nonforfeiture Standards

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule permits individual life insurance
				  policies to provide the same cash surrender values and paid-up nonforfeiture
				  benefits to both men and women. No change in minimum valuation standards is
				  implied by this rule.
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) Definitions.
(A) 1980 Commissioners Standard Ordinary
				Mortality Table (SO), with or without Ten (10)-Year Select Mortality Factors
				means that mortality table, consisting of separate rates of mortality for male
				and female lives, developed by the Society of Actuaries Committee to Recommend
				New Mortality Tables for Valuation of Standard Individual Ordinary Life
				Insurance, incorporated in the 1980 National Association of Insurance
				Commissioners (NAIC) Amendments to the Model Standard Valuation Law and
				Standard Nonforfeiture Law for Life Insurance, and referred to in those models
				as the Commissioners 1980 Standard Ordinary Mortality Table, with or without
				Ten (10)-Year Select Mortality Factors.
(B) 1980 SO Table (M), with or without Ten
				(10)-Year Select Mortality Factors means the mortality table consisting of the
				rates of mortality for male lives from the 1980 SO Table, with or without Ten
				(10)-Year Select Mortality Factors.
(C) 1980 Commissioners Expended Term Table
				(CET) means that mortality table consisting of separate rates of mortality for
				male and female lives, developed by the Society of Actuaries Committee to
				Recommend New Mortality Tables for Valuation of Standard Individual Ordinary
				Life Insurance, incorporated in the 1980 NAIC Amendments to the Model Standard
				Valuation Law and Standard Nonforfeiture Law for Life Insurance, and referred
				to in those models as the Commissioners 1980 Extended Term Insurance
				Table.
(D) 1980 CET Table (M) means
				that mortality table consisting of the rates of mortality for male lives from
				the 1980 CET Table.
(E) 1980 CET
				Table (F), as used in this rule, means that mortality table consisting of the
				rates of mortality for female lives from the 1980 CET Table.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 400 - Life, Annuities and Health › Chapter 1 - Life Insurance and Annuity Standards › Section 20 CSR 400-1.120 - Smoker/Nonsmoker Mortality Tables for Use in Determining Minimum Reserve Liabilities and Nonforfeiture Benefits

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule permits the use of mortality
				  tables that reflect differences in mortality between smokers and nonsmokers in
				  determining minimum reserve liabilities and minimum cash values and amounts of
				  paid-up nonforfeiture benefits for plans of insurance with separate premium
				  rates for smokers and nonsmokers.
(1) Definitions.
(A) As used in this rule, 1980 CSO
				(Commissioners Standard Ordinary) Table, with or without Ten (10)-Year Select
				Mortality Factor means that mortality table, consisting of separate rates of
				mortality for male and female lives, developed by the Society of Actuaries
				Committee to Recommend New Mortality Tables for Valuation of Standard
				Individual Ordinary Life Insurance, incorporated in the 1980 National
				Association of Insurance Commissioners (NAIC) Amendments to the Model Standard
				Valuation Law and Standard Nonforfeiture Law for Life Insurance, and referred
				to in those models as the Commissioners 1980 Standard Ordinary Mortality Table,
				with or without Ten (10)-Year Select Mortality Factors. The same select factors
				will be used for both smokers' and nonsmokers' tables.
(B) As used in this rule, 1980 CET
				(Commissioners Extended Term) Table means that mortality table consisting of
				separate rates of mortality for male and female lives, developed by the Society
				of Actuaries Committee to Recommend New Mortality Tables for Valuation of
				Standard Individual Ordinary Life Insurance, incorporated in the 1980 NAIC
				Amendments to the Model Standard Nonforfeiture Law for Life Insurance and
				referred to in those models as the Commissioners 1980 Extended Term Insurance
				Table.
(C) As used in this rule,
				the phrase smoker and nonsmoker mortality tables refers to the mortality tables
				with separate rates of mortality for smokers and nonsmokers derived from the
				tables defined in subsections (1)(A)-(D) of this rule which were developed by
				the Society of Actuaries Task Force on Smoker/Nonsmoker Mortality and the
				California Insurance Department staff and recommended by the NAIC Technical
				Staff Actuarial Group.
(D) As used
				in the rule, the phrase composite mortality tables refers to the mortality
				tables defined in subsections (1)(A)-(D) of this rule and in
				20
				CSR 400-1.110 as they were originally published with
				rates of mortality that do not distinguish between smokers and
				nonsmokers.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 400 - Life, Annuities and Health › Chapter 1 - Life Insurance and Annuity Standards › Section 20 CSR 400-1.140 - Policies and Contracts Subject to Section 376.678, RSMo-Notice Requirements

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule defines individual whole life
				  policy and individual deferred annuity contract as used in section
				  376.678,
				  RSMo, sets forth the conditions under which the notice requirements of section
				  376.678,
				  RSMo, are satisfied and specifies the policies and contracts which are subject
				  to section
				  376.678,
				  RSMo. This rule is promulgated pursuant to sections
				  374.045
				  and
				  376.678,
				  RSMo.
(1) Definitions.
(A) Whole life policy includes all life
				insurance policies which are subject to the provisions of section
				376.670,
				RSMo, including, but not limited to:
1.
				Paid-up or reduced paid-up policies issued or coverage existing, due to the
				policy owner's election of a nonforfeiture option; or
2. Term insurance policies which
				automatically become, at some time in the future, plans of insurance which
				develop nonforfeiture values.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 400 - Life, Annuities and Health › Chapter 1 - Life Insurance and Annuity Standards › Section 20 CSR 400-1.150 - Modified Guaranty Annuity

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule provides guidelines for Modified
				  Guaranteed Annuities, a variable annuity whose assets are placed in a separate
				  account.
(1) Applicability
				and Scope. This rule shall apply to-
(A) The
				qualifications of insurance producers who sell Modified Guaranteed Annuity
				contracts in this state;
(B) The
				qualification of insurers who issue these contracts;
(C) The required contract form and
				provisions; and
(D) The manner in
				which separate account assets, supporting these issued contracts, are to be
				maintained and reported.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 400 - Life, Annuities and Health › Chapter 1 - Life Insurance and Annuity Standards › Section 20 CSR 400-1.160 - Recognition of the 2001 CSO Mortality Table for Use in Determining Minimum Reserve Liabilities and Nonforfeiture Benefits

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: The purpose of this rule is to recognize,
				  permit and prescribe the use of the 2001 Commissioners Standard Ordinary (CSO)
				  Mortality Table in accordance with sections 376.380.1 and
				  376.670.9,
				  RSMo, and
				  20 CSR
				  200-1.160(5)(A) and
				  (B).
(1) Definitions.
(A) "2001 CSO Mortality Table" means that
				mortality table, consisting of separate rates of mortality for male and female
				lives, developed by the American Academy of Actuaries CSO Task Force from the
				Valuation Basic Mortality Table developed by the Society of Actuaries
				Individual Life Insurance Valuation Mortality Task Force, and adopted by the
				National Association of Insurance Commissioners (NAIC) in December 2002. The
				2001 CSO Mortality Table is included in the
Proceedings of the NAIC
				(2nd Quarter 2002).
Unless the context indicates otherwise, the "2001
				CSO Mortality Table" includes both the ultimate form of the table and the
				select and ultimate form of that table and includes both the smoker and
				nonsmoker mortality tables and the composite mortality tables. It also includes
				both the age-nearest-birthday and age-last-birthday bases of the mortality
				tables.
(B) "2001 CSO Mortality
				Table (F)" means that mortality table consisting of the rates of mortality for
				female lives from the 2001 CSO Mortality Table.
(C) "2001 CSO Mortality Table (M)" means that
				mortality table consisting of the rates of mortality for male lives from the
				2001 CSO Mortality Table.
(D)
				"Composite mortality tables" means mortality tables with rates of mortality
				that do not distinguish between smokers and nonsmokers.
(E) "Smoker and nonsmoker mortality tables"
				means mortality tables with separate rates of mortality for smokers and
				nonsmokers.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 400 - Life, Annuities and Health › Chapter 1 - Life Insurance and Annuity Standards › Section 20 CSR 400-1.170 - Recognition of Preferred Mortality Tables in Determining Minimum Reserve Liabilities and Nonforfeiture Benefits

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: The purpose of this rule is to recognize,
				  permit, and prescribe the use of mortality tables that reflect differences in
				  mortality between preferred and standard lives in determining minimum reserve
				  liabilities in accordance with the 2001 Commissioners' Standard Ordinary (CSO)
				  Mortality Table in accordance with sections 376.380.1 and
				  376.670.9,
				  RSMo, and
				  20 CSR
				  200-1.160(5)(A) and
				  (B).
(1) Definitions.
(A) "2001 CSO Mortality Table" means that
				mortality table, consisting of separate rates of mortality for male and female
				lives, developed by the American Academy of Actuaries Commissioners' Standard
				Ordinary (CSO) Task Force from the Valuation Basic Mortality Table developed by
				the Society of Actuaries Individual Life Insurance Valuation Mortality Task
				Force, and adopted by the National Association of Insurance Commissioners
				(NAIC) in December 2002. The 2001 CSO Mortality Table is included in the
Proceedings of the NAIC (2nd Quarter 2002)
and supplemented by
				the 2001 CSO Preferred Class Structure Mortality Table defined below in
				subsection (1)(B). Unless the context indicates otherwise, the 2001 CSO
				Mortality Table includes both the ultimate form of that table and the select
				and ultimate form of that table and includes both the smoker and nonsmoker
				mortality tables and the composite mortality tables. It also includes both the
				age-nearest-birthday and age-last-birthday bases of the mortality tables.
				Mortality tables in the 2001 CSO Mortality Table include the following:
1. "2001 CSO Mortality Table (F)" means that
				mortality table consisting of the rates of mortality for female lives from the
				2001 CSO Mortality Table;
2. "2001
				CSO Mortality Table (M)" means that mortality table consisting of the rates of
				mortality for male lives from the 2001 CSO Mortality Table;
3. "Composite mortality tables" means
				mortality tables with rates of mortality that do not distinguish between
				smokers and non-smokers; and
4.
				"Smoker and nonsmoker mortality tables" means mortality tables with separate
				rates of mortality for smokers and nonsmokers.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 400 - Life, Annuities and Health › Chapter 1 - Life Insurance and Annuity Standards › Exhibit A

Current through Register Vol. 49, No. 14, July 15, 2024
DIRECTOR'S REPORT OF EXAMINATION NO. _____________
STATE OF MISSOURI DEPARTMENT OF INSURANCE APPROVAL OF LICENSE
				  AS A
VARIABLE CONTRACT INSURANCE PRODUCER
____________________________________
Name of Applicant
____________________________________
Address
Enter name and address of broker-dealer and of the company to
				  which approval of application for Variable Contract Insurance Producer's
				  License should be directed.
____________________________________
Broker-Dealer
____________________________________
Address
____________________________________
Company
____________________________________
Address
When validated by the Department of Insurance, this will be
				  your notice of approval of your qualification for a Variable Contract Insurance
				  Producer's License.
LICENSE APPROVED
____________________________________
Date
____________________________________
Director
TEST SCORE: NAIC EXAMINATION
SECURITIES Part I _____________
Variable Contracts Part II ____________
(If test waived, indicate variable contract regulation
				  section conferring exemption)
____________________________________
If NAIC examination not taken, then name of general
				  securities examination acceptable to the SEC.
____________________________________
TEST SCORE: _______________________
*Original authority: 374.045, RSMo 1967 amended 1993, 1995;
					 375.936, RSMo 1959, amended 1967, 1969, 1971, 1976, 1978, 1983, 1991; 376.309,
					 RSMo 1963, amended 1969, 1983, 1992, 1993; 376.590, RSMo 1939; 376.670, RSMo
					 1943, amended 1959, 1961, 1965, 1975, 1979, 1982; and 376.675, RSMo 1963,
					 amended 1984.