Commercial Crime Filing Checklist
| Review Requirements | Reference | Comments | Location in Contract (page and section #) If Applicable |
|---|---|---|---|
| Filing Procedures | 20 CSR 500-8.100 | Describes the procedures for rates/rules/forms filings | |
| Transmittal Document | Bulletin 95-02 and Addendum to Bulletin 95-02 | Describes the filing process and gives instructions on how to complete the TD-2 form that is listed as an attachment, Exhibit B | |
| Withdraw from an entire line of insurance | 379.886 RSMo | Requires insurers to notify Director 90 days in advance of canceling or nonrenewing a line of business |
| Review Requirements | Reference | Comments | Location in Contract (page and section #) If Applicable |
|---|---|---|---|
| Application | 375.936 RSMo | Prohibits insurers from asking applicants if they have ever been cancelled or nonrenewed by prior insurer | |
| Cancellation/Nonrenewal – Mailing requirement | 379.885 RSMo | Proof of mailing to the named insured at his last known address | |
| Cancellation/Nonrenewal – Policyholder right to claims history | 379.884 RSMo | Within 30 days of a written request, the insured shall receive a statement of claims history for the 3 years prior to the date of cancellation or total claims history if policy has been in effect less than 3 years | |
| Cancellation – Notice of | 379.883 RSMo | 60 days prior to the effective date except for nonpayment of premium, fraud, changes in conditions after the effective date, insolvency of the insurer or if insurer involuntarily loses reinsurance for the policy | |
| Cancellation/Nonrenewal – Reasons for | 379.883(3) RSMo | Insurer's actual reason to be sufficiently clean and specific. An assignment or transfer among affiliated insurers within a group is not considered a cancellation/nonrenewal | |
| Form filings – effective date | 20CSR 500-4.100 | Filings must be received by the Department within 10 days of the effective date | |
| Mandatory endorsement (name, address, phone) | Bulletin 92-04 & 375.924(1) RSMo | Requires policies to contain the name, address and telephone number of the insurer | |
| Missouri Property & Casualty Guaranty Association | 375.772 RSMo & Bulletin 92-08 | Requires policies to contain the guaranty fund endorsement | |
| Nonrenewal-Notice of | 379.883 RSMo | 60 days prior to the effective date of nonrenewal |
| Review Requirements | Reference | Comments | Location in Contract (page and section #) If Applicable |
|---|---|---|---|
| Acknowledging claims/settlement provisions | 375.1000-1007RSMo & 20 CSR 100-1.020-1.050 | Misrepresentation of policy provisions, failure to acknowledge pertinent communications, standards for prompt investigation of claims, standards for prompt, fair and equitable settlement of claims | |
| Arbitration | 435.435 RSMo & Case Law – Standard Sec. Life Ins. Co. v. West 127 F.Supp.2d 1064 W.D. MO.,2000 | Arbitration hearing to be held in county where adverse party resides or has a place of business | |
| Arbitration | 435.350 RSMo. | Mandatory binding arbitration prohibited in contracts of insurance. | |
| Appraisal | 20 CSR 500-1.100 | When the insured and company fail to agree on the ACV or the amount of a loss, then, on written demand of either, each shall select a competent appraiser. | |
| Punitive damages | Case Law – Crull v. Gleb, 382 S.W. 2d 17 (Mo. App. 1964) | Court held that it was against public policy to permit insurance coverage of punitive damages awards. | |
| Statute of limitations | 516.110 RSMo | 10 years |
| Review Requirements | Reference | Comments | Location in Contract (page and section #) If Applicable |
|---|---|---|---|
| Consent to Rate – (A Rate) | 379.888(1)(1) RSMo | Defines " A Rates " as being those individually determined based on judgement because neither a rate service organization nor the insurer has established a manual rates | |
| Consent to Rate – (A Rate) | 20CSR500-4.300 | Sets out standards for using " Consent to Rate " | |
| Deviation from rating organization | 379.326 RSMo | Deviations from rating organizations shall be filed with the director and are effective upon the date of filing | |
| Fees | 379.356 RSMo & 375.052 RSMo | Incidental fees to premium installments, late payments, policy reinstatements or other similar services specifically provided for by law or regulation are allowed | |
| Premium notification | 379.321(6)(2) RSMo | Requires insurers to send a notice to the agent of record and insured 60 days prior to the expiration date of the policy when the premium is increased by 25% or more | |
| Rate filings | 379.321 RSMo. | Rate, rate plans, modifications and manuals of classifications shall be filed with MDI for informational purposes only; however, the Director retains authority over excessive, inadequate or unfairly discriminatory rates | |
| Rate Standard | 379.470 RSMo | Rates shall not be excessive, inadequate, or unfairly discriminatory. | |
| Rating Organization filings | 20CSR500-4.200(4) | Insurers adopting loss costs filed by a rating organization must file Exhibit A, B, & C | |
| Rebates | 379.356 RSMo | Prohibits rebating |