Effective – 28 Aug 1969 379.810. Program established. — There is hereby established the “Missouri Basic Property Insurance Inspection and Placement Program” (hereinafter referred to as “program” ) to make available basic property insurance to persons having property interests in this state who are in good faith entitled to but who are unable to procure […]
Effective – 28 Aug 2004 379.815. Definitions. — As used in this section, the following terms mean: (1) “All-industry placement facility” (hereinafter referred to as “the facility” ), the organization formed by insurers to assist applicants in securing basic property insurance, to issue policies and to administer the program and the joint reinsurance association; (2) […]
Effective – 28 Aug 1986 379.820. Inspections and reports. — 1. Any property owner or his representative, the insurer, or the insurance agent or other producer may request an inspection by the inspection bureau. Such requests need not be in writing. The absence of a building owner or his representative during an inspection shall not […]
Effective – 28 Aug 2004 379.825. Issuance of policy, when — appointment of liability assumed — expenses — limits on liability. — 1. The facility, upon receipt of an application for coverage and the corresponding inspection report from the inspection bureau, shall, after it finds that the property is eligible for insurance under this program, […]
Effective – 28 Aug 2014 379.827. Sinkhole loss policies authorized. — 1. As used in this section, the term “sinkhole loss” means actual physical damage to a building or property arising out of sudden settlement or collapse of the earth supporting the building, and only when the sudden settlement or collapse results directly from subterranean […]
Effective – 28 Aug 1986 379.830. Procedure after inspection and submission. — 1. The facility shall, within five business days after receipt of the inspection report and application, complete an action report advising that: (1) The risk is acceptable; or (2) The risk is acceptable at a surcharged rate and the improvements necessary before coverage […]
Effective – 28 Aug 1986 379.835. Joint reinsurance association. — 1. A “Joint Reinsurance Association” (hereinafter referred to as “the association” ) shall be created consisting of all insurers. The association shall assume from the facility one hundred percent reinsurance on behalf of insurers and shall distribute the liability in accordance with section 379.825. 2. […]
Effective – 28 Aug 1969 379.840. Standard policy coverage and rating procedure. — All policies issued shall be for basic property insurance on the forms and in accordance with the rate or rating procedures approved by the director for use with the program. Such policies shall be issued for a term of one year. ——– […]
Effective – 28 Aug 1986 379.845. Cancellation or nonrenewal. — 1. The facility shall not cancel a policy or binder issued under the program without approval of the governing committee except in case of: (1) Evidence of incendiarism (meaning arson by or at the direction of the insured); or (2) For nonpayment of premium; or […]
Effective – 28 Aug 1986 379.850. Right of appeal. — 1. Any applicant may appeal a decision of the facility relating to the conditions for acceptance of coverage to the director, in writing, within thirty days from the decision of the facility. 2. Other than as provided in subsection 1 of this section, any applicant […]
Effective – 28 Aug 1969 379.855. Commissions. — 1. Commission under the program shall be twelve percent on new business and ten percent on renewal business on the policy premium and shall be paid to the licensed producer designated by the applicant. 2. If a licensed producer is not designated, the commission shall be deposited […]
Effective – 28 Aug 2020, 2 histories 379.860. Administration of program — governing committee, members, vacancies — immunity from liability, when. — 1. This program shall be administered by a governing committee (hereinafter referred to as “the committee”) of the facility, subject to the supervision of the director, and operated by a manager appointed by […]
Effective – 28 Aug 1969 379.865. Annual and special meetings. — 1. There shall be an annual meeting of the insurers and members of the governing committee on a date fixed by the committee. 2. A special meeting may be called at such time and place designated by the committee or upon the written request […]
Effective – 28 Aug 1969 379.870. Duties of the committee. — 1. The committee shall meet as often as may be required to perform the general duties of administration of the program or on the call of the director. 2. The committee shall be empowered to appoint a manager, who shall serve at the pleasure […]
Effective – 28 Aug 1986 379.875. Statistics to be kept, reports. — 1. The facility shall separately code and maintain separate statistics on business written in accordance with the foregoing program and shall make reports thereon as may be required by the committee and director. 2. The manager shall submit annually or at such other […]
Effective – 28 Aug 1969 379.880. Public education. — All insurers agree to undertake a continuing public education program, in cooperation with producers and others, to assure that the basic property insurance inspection and placement program receives adequate public attention. ——– (L. 1969 H.B. 772 § 379.131)
