CCSSSSCSHCSHB2168--INSURANCE
Thisbillmodifiesprovisionsrelatingtoinsurance.
UNEMPLOYMENTINSURANCE(Sections288.132,288.133,andB)
Thisbillprovidesthatanyemployerrequiredtomakecontributions
undertheunemploymentcompensationlawsmustpayanannual
unemploymentautomationadjustmentequalto.02%ofitstotal
taxablewagesforthe12monthperiodendingtheprecedingJune
30th.TheDivisionofEmploymentSecurityispermittedtolower
thisrateundercertaincircumstances. Theseprovisionshavea
delayedeffectivedateofJanuary1,2023.
MOTORVEHICLEFINANCIALRESPONSIBILITY (Sections303.025,303.041,
andC)
ThebillspecifiesthattheDepartmentofRevenuemustestablish,
byrule,aprocessforthevoluntarysuspensionofmotorvehicle
registrationforvehicleswhichareinoperableorbeingstoredand
notinoperation. Theownerornonresidentmustnotfurther
operatethevehicleuntilnotifyingtheDepartmentthatthevehicle
willbeinuse,andtheDepartmentmustreinstatetheregistration
uponreceiptofproofoffinancialresponsibility. Ownersor
nonresidentswhooperateamotorvehicleduringaperiodof
inoperabilityorstorageclaimedunderthebillwillbeguiltyofa
ClassBmisdemeanorandmayadditionallybeguiltyofaviolation
ofTheMotorVehicleFinancialResponsibility Law.
ThebillalsoprovidesthattheDepartmentmayverifymotorvehicle
financialresponsibility asprovidedbylaw,butmustnototherwise
takeenforcementactionunlesstheDirectordeterminesaviolation
hasoccurredasdescribedinthebill.
Currently,afirstviolationofTheMotorVehicleFinancial
Responsibility LawispunishableasaClassDmisdemeanor,meaning
afinemaybeimposedofupto$500;asecondorsubsequentoffense
ispunishablebyupto15daysinjailand/orafinenottoexceed
$500.Thisbillspecifiesthatasecondorsubsequentoffensemay
bepunishedbyupto15daysinjailandwillbepunishedbyafine
notlessthan$200butnottoexceed$500.Finesowedtothestate
forviolationsoftheMotorVehicleFinancialResponsibility Law
maybeeligibleforpaymentininstallments. Rulesforthe
applicationofpaymentplanswilltakeintoaccountindividuals'
abilitytopay.
PETROLEUMSTORAGETANKINSURANCEFUND(Section319.129)
Currently,thePetroleumStorageTankInsuranceFundexpireson December31,2025.Thisbillextendstheexpirationdateto
December31,2030.
ThisalsogivesrulemakingauthoritytotheBoardofTrustees.
TRAVELINSURANCE(Section375.159)
Thebillspecifiesthattheseprovisionsdonotapplyto
cancellationfeewaiversortravelassistanceservices,asdefined
inthebill.
ThisbillallowstheDirectoroftheDepartmentofCommerceand
Insurancetoissuealimitedlinestravelinsuranceproducer
licensetoapersonorbusinessentitythathasfiledan
applicationwiththeDirector. Alimitedlinesproducermaysell,
solicit,ornegotiatetravelinsurancethroughalicensedinsurer.
Theexistinggroundsforlicensesuspensionorrevocationbythe
Directorwillapplytolimitedlinestravelinsuranceproducersand
travelretailers,asdefinedinthebill.Thebillspecifiesthat
certaininformationtravelretailersarecurrentlyrequiredto
providetocustomersmusthavebeenapprovedbythetravelinsurer.
Anypersonlicensedtoproducemajorlinesofinsurancemayproduce
travelinsuranceaswell.Apropertyandcasualtyinsurance
producerisnotrequiredtobeappointedbyaninsurerinorderto
producetravelinsurance.
Thebillspecifiesthattravelinsuranceissubjecttotaxationof
premiumsasprovidedbylaw,withcertaindisclosurestobemadeas
specifiedinthebill.
Travelprotectionplans,asdefinedinthebill,maybeofferedif
theprotectionplanmakescertaindisclosuresandprovides
informationandmaterialsdescribedinthebill.
Exceptasotherwiseprovidedinthebill,personsofferingtravel
insurancetoresidentsofthisstatearesubjecttotheUnfair
TradePracticesAct.Ifthereisanyconflictbetweenthebilland
theotherinsurancelawsofthestateregardingtravelinsurance,
theprovisionsofthebillwillcontrol. Itwillbeanunfair
tradepracticetoofferorsellapolicyoftravelinsurancethat
couldneverresultinpaymenttotheinsured.
Thebillrequiresdocumentsprovidedtoconsumerspriorto
purchasingtravelinsurancetobeaccurate,andrequiresdisclosure
ofandanopportunitytolearnmoreaboutpreexistingcondition
exclusions. Thebillspecifiesthatcertaindocumentsrequiredby
lawmustbeprovidedtothepurchaserassoonaspracticable
followingthepurchaseofatravelprotectionplan,andprovides forminimumperiodsinwhichpoliciescanbecanceledforafull
refund.Thebillrequiresdisclosureofwhetherthetravel
insuranceisprimaryorsecondarycoverage,andspecifiesthat
marketingthepoliciesdirectlytoconsumersthroughanaggregator
site,asdefinedinthebill,mustnotbeanunfairtradepractice
ifanaccuratesummaryofthecoverageisprovidedonthewebpage
andtheconsumerhasaccesstothefullpolicythroughelectronic
means.
Thisbillprohibitstheuseofsellingtravelinsurancebymeansof
anegativeoptionor"opt-out"thatwouldrequiretheconsumerto
takeactiontodeclinecoverage,suchasuncheckingaboxonan
electronicform,whenpurchasingatrip.Itisanunfairtrade
practicetomarketblankettravelinsurancecoverage,asdefinedin
thebill,asfree.Whereaconsumer'sdestinationjurisdiction
requirestravelinsurance,itwillnotbeanunfairtradepractice
torequirepurchaseofcoveragethroughthetravelretailer,or
agreementtoobtainandprovideproofofcoveragefromanother
source,priortodeparture.
Apersonshallnotrepresenthimselforherselfasatravel
administrator, asdefinedinthebill,forissuanceoftravel
insuranceunlessthepersonholdsoneofthetypesoflicense
describedinthebill.Insurersareresponsiblefortheactsof
traveladministrators administeringtheirpolicies,andare
responsibleforensuringrelevantbooksandrecordsaremaintained
tobeprovidedtotheDirectoruponrequest.
Travelinsurancemustbeclassifiedandfiledforpurposesofforms
andratesunderaninlandmarinelineofinsurance,exceptas
otherwiseprovidedinthebill.Eligibilityandunderwriting
standardsfortravelinsurancemaybedeveloped,providedtheyalso
meetthestate'sunderwritingstandardsforinlandmarine
insurance.
VALUATIONOFINSURANCEPOLICIESANDCONTRACTS(Section376.380)
Currentlawrequiresinsurersprovidinglifeinsurance,accident
andhealthpolicies,deposit-typecontracts,orannuityorpure
endowmentcontracts,toholdreservesinanamountdeterminedunder
theNationalAssociationofInsuranceCommissioners' valuation
manual.
Thisbillrepealsanexceptionspecifyingthatinsurerslicensed
anddoingbusinessinMissouriwhichhavelessthan$300millionof
ordinarylifeinsurancepremiummayinsteadutilizeadifferent
methodspecifiedbylawtodeterminethereserveamounts,provided
theinsurermeetscertainconditions. ELECTRONICDELIVERYOFINSURANCEDOCUMENTSANDNOTICES(Section
379.011)
Inthisbill,ifapolicyofinsuranceispurchasedthroughthe
Internet,amobileapplication,acomputer,amobiledevice,a
tablet,oranyotherelectronicdeviceorplatformorifapolicy
ofinsuranceisinitiallydeliveredbyelectronicmeans,aparty
shallbeconsideredtohaveaffirmativelyconsentedtohaveall
futurenoticesanddocumentsrelatedtothepolicyorclaimsof
suchpolicydeliveredbyelectronicmeans.However,thepolicy
holdercanlaterwithdrawhisorherconsenttohavedocuments
deliveredelectronically.
MEDICALRETAINERAGREEMENTS(Section376.1800)
Thisbillallowsdentistsandchiropractorstosell,offer,and
marketmedicalretaineragreements.