Section 379.420 – Citation of law.
Effective – 28 Aug 1947 379.420. Citation of law. — Sections 379.420 to 379.510 may be referred to as “The Casualty and Surety Rate Regulatory Law”. ——– (L. 1947 V. II p. 254 § 12)
Section 379.425 – Law applicable to certain classes of insurance — exceptions.
Effective – 28 Aug 2001 379.425. Law applicable to certain classes of insurance — exceptions. — 1. Sections 379.420 to 379.510 apply to casualty insurance, including fidelity, surety and guaranty bonds, and to all forms of motor vehicle insurance, on risks or operations in this state, except: (1) Reinsurance, other than joint reinsurance to the […]
Section 379.430 – Insurers may act in concert with respect to rates.
Effective – 28 Aug 1947 379.430. Insurers may act in concert with respect to rates. — 1. Subject to the provisions of sections 379.420 to 379.510, two or more licensed insurers may act in concert with each other and with others with respect to any or all matters pertaining to the making of rates, rating […]
Section 379.435 – Rating organization defined.
Effective – 28 Aug 1947 379.435. Rating organization defined. — Any corporation, unincorporated association, partnership, or individual, other than a licensed insurer, which has as its or his object or purpose the making of rates, rating plans, or rating systems shall be known as a “rating organization” and may, subject to the provisions of sections […]
Section 379.440 – Rating organization must be licensed — who may apply — content of application.
Effective – 28 Aug 1947 379.440. Rating organization must be licensed — who may apply — content of application. — 1. No corporation, unincorporated association, partnership, or individual shall act as a rating organization in this state without first filing with the director of the department of commerce and insurance a written application for, and […]
Section 379.445 – Requirements to obtain and retain license.
Effective – 28 Aug 1947 379.445. Requirements to obtain and retain license. — To obtain and retain a license, a rating organization shall provide satisfactory evidence to the director of the department of commerce and insurance that it will (1) Permit any licensed insurer to become a subscriber to such rating organization or withdraw therefrom […]
Section 379.450 – Director to grant or deny license.
Effective – 28 Aug 1947 379.450. Director to grant or deny license. — 1. If the director of the department of commerce and insurance finds that the applicant meets the licensing requirements of sections 379.420 to 379.510 applicable to it and is trustworthy and competent to act as a rating organization and that its constitution, […]
Section 379.455 – Advisory organizations.
Effective – 28 Aug 1947 379.455. Advisory organizations. — 1. Any corporation, unincorporated association, partnership or individual, other than a licensed insurer, whether located within or outside this state, which prepares policy forms, makes underwriting rules, surveys or inspections incident to but not including the making of rates, rating plans or rating systems, or which […]
Section 379.460 – Joint underwriting groups.
Effective – 28 Aug 1947 379.460. Joint underwriting groups. — 1. Every group, association or other organization of insurers which engages in joint underwriting through joint reinsurance shall file with the director (1) A copy of its constitution, its articles of agreement or association or its certificate of incorporation, and of its bylaws, rules and […]
Section 379.465 – Exchange of information — agreement to rates.
Effective – 28 Aug 1947 379.465. Exchange of information — agreement to rates. — 1. Every rating organization and insurer may exchange information and experience data with insurers and rating organizations in this and other states and may consult with them with respect to ratemaking and the application of rating systems. 2. With the approval […]
Section 379.470 – Provisions governing rates.
Effective – 16 Oct 2015 *379.470. Provisions governing rates. — The rates made by each insurer or rating organization shall be subject to the following provisions: (1) Rates shall not be excessive or inadequate, as herein defined, nor shall they be unfairly discriminatory; (2) No rate shall be held to be excessive unless such rate […]
Section 379.475 – Director to examine — powers — cost — director may accept examination by other state.
Effective – 28 Aug 1947 379.475. Director to examine — powers — cost — director may accept examination by other state. — 1. The director of the department of commerce and insurance shall have the power, at any time he may deem it advisable, to examine any insurer writing any class of insurance which is […]
Section 379.480 – Purpose of examination — hearing — orders.
Effective – 28 Aug 1947 379.480. Purpose of examination — hearing — orders. — 1. The purpose of examination, as herein provided for, is to enable the director to ascertain whether there is compliance with the provisions of sections 379.420 to 379.510. 2. If as a result of such examination the director has reason to […]
Section 379.485 – Penalties for failure to comply — powers of director.
Effective – 28 Aug 1947 379.485. Penalties for failure to comply — powers of director. — 1. If any rating organization or insurer shall fail to comply with an order of the director lawfully made by him under section 379.480, the director may, in addition to other penalties provided in sections 379.420 to 379.510 or […]
Section 379.490 – May use rating plans or systems.
Effective – 28 Aug 1947 379.490. May use rating plans or systems. — Any rate, rating plan or rating system made or adopted by an insurer or by a rating organization licensed hereunder and any modifications and amendments thereto may be used subject to the provisions of sections 379.420 to 379.510. ——– (L. 1947 V. […]
Section 379.495 – Payment of dividends not regulated.
Effective – 28 Aug 1947 379.495. Payment of dividends not regulated. — 1. Nothing in sections 379.420 to 379.510 shall be construed to prohibit or regulate the payment of dividends, savings, or unabsorbed premium deposits allowed or returned by insurers to their policyholders, members or subscribers. 2. No plan for the payment of dividends, savings, […]
Section 379.500 – Freedom of contract for fees not restricted.
Effective – 28 Aug 1947 379.500. Freedom of contract for fees not restricted. — Nothing in sections 379.420 to 379.510 shall abridge or restrict the freedom of contract of insurers, agents, or brokers with reference to the amount of commissions or fees to be paid to such agents or brokers by insurers, and such payments […]
Section 379.505 – Hearings on orders — notice — rules of pleading and evidence — review — effective date of order.
Effective – 28 Aug 1947 379.505. Hearings on orders — notice — rules of pleading and evidence — review — effective date of order. — 1. Any insurer or rating organization aggrieved by any order or decision of the director made without a hearing, may, within thirty days after notice of the order to the […]
Section 379.510 – Penalty for violation of orders.
Effective – 28 Aug 2007 379.510. Penalty for violation of orders. — 1. If the director determines that any person has violated a final order of the director under sections 379.420 to 379.510, the director may issue such administrative orders as authorized under section 374.046. A violation of any of these sections is a level […]