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msmarco_v2.1_doc_01_1666375050#1_2442282493
|
http://insurance.mo.gov/consumers/smallbusiness/health.php
|
Small Business - Health Insurance Information | Missouri Department of Insurance, Financial Institutions & Professional Registration
|
Small Business - Health Insurance Information
Small Business - Health Insurance Information
Small business - group health insurance
Do I have to offer health insurance to my employees?
Who regulates group health plans?
What does it mean to be fully-insured or self-insured?
What types of plans are available for small businesses?
How do I purchase group health insurance for my small business?
In addition to health insurance, what other types of coverage/benefits can I offer my employees?
Who qualifies for coverage?
How does COBRA and Missouri State Continuation work?
Beware of “alternative” types of health insurance – or outright fakes
What can I do if I am experiencing issues with an insurance carrier?
|
Fully-insured group health plans issued in the State of Missouri are regulated by the Missouri Department of Insurance, Financial Institutions & Professional Registration. However, if the group health plan is self-insured, Missouri state laws would not be applicable. Most self-funded plans are regulated by the federal Employees Retirement Income Security Act (ERISA) of 1974. What does it mean to be fully-insured or self-insured? A fully-insured policy is one in which the benefits are purchased from an insurance company. In exchange for the premium it receives, the insurance company assumes the financial risk and responsibility of paying for covered services. Conversely, a self-insured (also referred to as “self-funded”) plan is one in which an employer, not an insurance company, provides benefits. The employer established a plan document outlining the covered expenses, exclusions, and other important terms; pays claims using its own funds along with any enrollee contributions; and may hire a third party to administer benefits on its behalf.
| 700 | 1,757 |
msmarco_v2.1_doc_01_1666375050#2_2442284637
|
http://insurance.mo.gov/consumers/smallbusiness/health.php
|
Small Business - Health Insurance Information | Missouri Department of Insurance, Financial Institutions & Professional Registration
|
Small Business - Health Insurance Information
Small Business - Health Insurance Information
Small business - group health insurance
Do I have to offer health insurance to my employees?
Who regulates group health plans?
What does it mean to be fully-insured or self-insured?
What types of plans are available for small businesses?
How do I purchase group health insurance for my small business?
In addition to health insurance, what other types of coverage/benefits can I offer my employees?
Who qualifies for coverage?
How does COBRA and Missouri State Continuation work?
Beware of “alternative” types of health insurance – or outright fakes
What can I do if I am experiencing issues with an insurance carrier?
|
In exchange for the premium it receives, the insurance company assumes the financial risk and responsibility of paying for covered services. Conversely, a self-insured (also referred to as “self-funded”) plan is one in which an employer, not an insurance company, provides benefits. The employer established a plan document outlining the covered expenses, exclusions, and other important terms; pays claims using its own funds along with any enrollee contributions; and may hire a third party to administer benefits on its behalf. Oftentimes, an employer will utilize an insurance carrier as their third-party administrator. Generally, federal law governs both fully-insured and self-insured plans; however, self-insured plans are not subject to state insurance regulation. What types of plans are available for small businesses? There are several types of health insurance plans a small business owner can purchase.
| 1,227 | 2,143 |
msmarco_v2.1_doc_01_1666375050#3_2442286642
|
http://insurance.mo.gov/consumers/smallbusiness/health.php
|
Small Business - Health Insurance Information | Missouri Department of Insurance, Financial Institutions & Professional Registration
|
Small Business - Health Insurance Information
Small Business - Health Insurance Information
Small business - group health insurance
Do I have to offer health insurance to my employees?
Who regulates group health plans?
What does it mean to be fully-insured or self-insured?
What types of plans are available for small businesses?
How do I purchase group health insurance for my small business?
In addition to health insurance, what other types of coverage/benefits can I offer my employees?
Who qualifies for coverage?
How does COBRA and Missouri State Continuation work?
Beware of “alternative” types of health insurance – or outright fakes
What can I do if I am experiencing issues with an insurance carrier?
|
Oftentimes, an employer will utilize an insurance carrier as their third-party administrator. Generally, federal law governs both fully-insured and self-insured plans; however, self-insured plans are not subject to state insurance regulation. What types of plans are available for small businesses? There are several types of health insurance plans a small business owner can purchase. Some plans provide comprehensive major medical coverage, while others provide a very specific, or significantly limited, amount of benefits. The various plans include: Comprehensive Major Medical Plans – These are also known as “managed care plans”. These plans offer a network of preferred health care providers and are subject to the provisions required under the federal Affordable Care Act. There are 4 main types of managed care plans:
| 1,758 | 2,584 |
msmarco_v2.1_doc_01_1666375050#4_2442288562
|
http://insurance.mo.gov/consumers/smallbusiness/health.php
|
Small Business - Health Insurance Information | Missouri Department of Insurance, Financial Institutions & Professional Registration
|
Small Business - Health Insurance Information
Small Business - Health Insurance Information
Small business - group health insurance
Do I have to offer health insurance to my employees?
Who regulates group health plans?
What does it mean to be fully-insured or self-insured?
What types of plans are available for small businesses?
How do I purchase group health insurance for my small business?
In addition to health insurance, what other types of coverage/benefits can I offer my employees?
Who qualifies for coverage?
How does COBRA and Missouri State Continuation work?
Beware of “alternative” types of health insurance – or outright fakes
What can I do if I am experiencing issues with an insurance carrier?
|
Some plans provide comprehensive major medical coverage, while others provide a very specific, or significantly limited, amount of benefits. The various plans include: Comprehensive Major Medical Plans – These are also known as “managed care plans”. These plans offer a network of preferred health care providers and are subject to the provisions required under the federal Affordable Care Act. There are 4 main types of managed care plans: HMO – Provides in network benefits only. If you seek care from an out of network provider you will be responsible for 100% of the cost (s) associated with that care. You must also choose a primary care physician. Except for emergencies, you must seek a referral from your primary care physician prior to seeking care from any other health care professional. PPO – Provides in network and out of network benefits.
| 2,144 | 2,997 |
msmarco_v2.1_doc_01_1666375050#5_2442290519
|
http://insurance.mo.gov/consumers/smallbusiness/health.php
|
Small Business - Health Insurance Information | Missouri Department of Insurance, Financial Institutions & Professional Registration
|
Small Business - Health Insurance Information
Small Business - Health Insurance Information
Small business - group health insurance
Do I have to offer health insurance to my employees?
Who regulates group health plans?
What does it mean to be fully-insured or self-insured?
What types of plans are available for small businesses?
How do I purchase group health insurance for my small business?
In addition to health insurance, what other types of coverage/benefits can I offer my employees?
Who qualifies for coverage?
How does COBRA and Missouri State Continuation work?
Beware of “alternative” types of health insurance – or outright fakes
What can I do if I am experiencing issues with an insurance carrier?
|
HMO – Provides in network benefits only. If you seek care from an out of network provider you will be responsible for 100% of the cost (s) associated with that care. You must also choose a primary care physician. Except for emergencies, you must seek a referral from your primary care physician prior to seeking care from any other health care professional. PPO – Provides in network and out of network benefits. Although you can seek care, without a referral or prior approval, outside your network, your out of pocket costs will be significantly higher. EPO – A hybrid of an HMO and PPO. This type of plan includes in network benefits only. However, the plan does allow for out of network benefits when prior approval is requested and received from the insurance carrier. POS – Also known as a “Point of Service” plan.
| 2,584 | 3,405 |
msmarco_v2.1_doc_01_1666375050#6_2442292448
|
http://insurance.mo.gov/consumers/smallbusiness/health.php
|
Small Business - Health Insurance Information | Missouri Department of Insurance, Financial Institutions & Professional Registration
|
Small Business - Health Insurance Information
Small Business - Health Insurance Information
Small business - group health insurance
Do I have to offer health insurance to my employees?
Who regulates group health plans?
What does it mean to be fully-insured or self-insured?
What types of plans are available for small businesses?
How do I purchase group health insurance for my small business?
In addition to health insurance, what other types of coverage/benefits can I offer my employees?
Who qualifies for coverage?
How does COBRA and Missouri State Continuation work?
Beware of “alternative” types of health insurance – or outright fakes
What can I do if I am experiencing issues with an insurance carrier?
|
Although you can seek care, without a referral or prior approval, outside your network, your out of pocket costs will be significantly higher. EPO – A hybrid of an HMO and PPO. This type of plan includes in network benefits only. However, the plan does allow for out of network benefits when prior approval is requested and received from the insurance carrier. POS – Also known as a “Point of Service” plan. This is another hybrid of the HMO and PPO plans. With POS plans you may be required to designate a primary care physician who will then make referrals to network specialists when needed. Like a PPO plan, you may receive care from out of network providers but the out of pocket costs will be much greater. Limited Benefit Plans – These plans do not provide major medical coverage. The benefits are typically a set dollar amount dependent on the type of care you receive and/or the injury/illness you sustain.
| 2,998 | 3,913 |
msmarco_v2.1_doc_01_1666375050#7_2442294467
|
http://insurance.mo.gov/consumers/smallbusiness/health.php
|
Small Business - Health Insurance Information | Missouri Department of Insurance, Financial Institutions & Professional Registration
|
Small Business - Health Insurance Information
Small Business - Health Insurance Information
Small business - group health insurance
Do I have to offer health insurance to my employees?
Who regulates group health plans?
What does it mean to be fully-insured or self-insured?
What types of plans are available for small businesses?
How do I purchase group health insurance for my small business?
In addition to health insurance, what other types of coverage/benefits can I offer my employees?
Who qualifies for coverage?
How does COBRA and Missouri State Continuation work?
Beware of “alternative” types of health insurance – or outright fakes
What can I do if I am experiencing issues with an insurance carrier?
|
This is another hybrid of the HMO and PPO plans. With POS plans you may be required to designate a primary care physician who will then make referrals to network specialists when needed. Like a PPO plan, you may receive care from out of network providers but the out of pocket costs will be much greater. Limited Benefit Plans – These plans do not provide major medical coverage. The benefits are typically a set dollar amount dependent on the type of care you receive and/or the injury/illness you sustain. These plans go by various names such as Hospital Indemnity, Accident Only, and Specified Disease. Pre-existing conditions are excluded under these plans and medical underwriting will be conducted prior to your acceptance. These plans are not subject to the provisions required under the federal Affordable Care Act. How do I purchase group health insurance for my small business? There are various means by which a small business employer can shop for group health coverage.
| 3,406 | 4,388 |
msmarco_v2.1_doc_01_1666375050#8_2442296533
|
http://insurance.mo.gov/consumers/smallbusiness/health.php
|
Small Business - Health Insurance Information | Missouri Department of Insurance, Financial Institutions & Professional Registration
|
Small Business - Health Insurance Information
Small Business - Health Insurance Information
Small business - group health insurance
Do I have to offer health insurance to my employees?
Who regulates group health plans?
What does it mean to be fully-insured or self-insured?
What types of plans are available for small businesses?
How do I purchase group health insurance for my small business?
In addition to health insurance, what other types of coverage/benefits can I offer my employees?
Who qualifies for coverage?
How does COBRA and Missouri State Continuation work?
Beware of “alternative” types of health insurance – or outright fakes
What can I do if I am experiencing issues with an insurance carrier?
|
These plans go by various names such as Hospital Indemnity, Accident Only, and Specified Disease. Pre-existing conditions are excluded under these plans and medical underwriting will be conducted prior to your acceptance. These plans are not subject to the provisions required under the federal Affordable Care Act. How do I purchase group health insurance for my small business? There are various means by which a small business employer can shop for group health coverage. Some of those include: Agent/Broker: There are two types of agents/brokers - those that can only sell for one carrier (captive agent) and those that can sell for multiple carriers (independent agents). A captive agent can only provide quotes for plans sold by the carrier they represent. Independent agents can provide multiple quotes from multiple carriers.
| 3,914 | 4,747 |
msmarco_v2.1_doc_01_1666375050#9_2442298445
|
http://insurance.mo.gov/consumers/smallbusiness/health.php
|
Small Business - Health Insurance Information | Missouri Department of Insurance, Financial Institutions & Professional Registration
|
Small Business - Health Insurance Information
Small Business - Health Insurance Information
Small business - group health insurance
Do I have to offer health insurance to my employees?
Who regulates group health plans?
What does it mean to be fully-insured or self-insured?
What types of plans are available for small businesses?
How do I purchase group health insurance for my small business?
In addition to health insurance, what other types of coverage/benefits can I offer my employees?
Who qualifies for coverage?
How does COBRA and Missouri State Continuation work?
Beware of “alternative” types of health insurance – or outright fakes
What can I do if I am experiencing issues with an insurance carrier?
|
Some of those include: Agent/Broker: There are two types of agents/brokers - those that can only sell for one carrier (captive agent) and those that can sell for multiple carriers (independent agents). A captive agent can only provide quotes for plans sold by the carrier they represent. Independent agents can provide multiple quotes from multiple carriers. Various factors can determine which agent would be best for your group. SHOP: The Small Business Health Options Program (SHOP) was created in conjunction with the Affordable Care Act and provides an online medium for small business owners to search for and purchase group health insurance. You can visit https://www.healthcare.gov for further information on the SHOP and/or to search for and purchase group health coverage. Carrier:
| 4,389 | 5,180 |
msmarco_v2.1_doc_01_1666375050#10_2442300315
|
http://insurance.mo.gov/consumers/smallbusiness/health.php
|
Small Business - Health Insurance Information | Missouri Department of Insurance, Financial Institutions & Professional Registration
|
Small Business - Health Insurance Information
Small Business - Health Insurance Information
Small business - group health insurance
Do I have to offer health insurance to my employees?
Who regulates group health plans?
What does it mean to be fully-insured or self-insured?
What types of plans are available for small businesses?
How do I purchase group health insurance for my small business?
In addition to health insurance, what other types of coverage/benefits can I offer my employees?
Who qualifies for coverage?
How does COBRA and Missouri State Continuation work?
Beware of “alternative” types of health insurance – or outright fakes
What can I do if I am experiencing issues with an insurance carrier?
|
Various factors can determine which agent would be best for your group. SHOP: The Small Business Health Options Program (SHOP) was created in conjunction with the Affordable Care Act and provides an online medium for small business owners to search for and purchase group health insurance. You can visit https://www.healthcare.gov for further information on the SHOP and/or to search for and purchase group health coverage. Carrier: Insurance carriers maintain websites through which, typically, you can search for and purchase their health insurance products. Some carriers will allow you to conduct the quoting and enrollment process online; however, some may require you to call the carrier directly. An enrollment/eligibility specialist will then assist you through the process of purchasing a health insurance (or related) product. Before purchasing, interview several licensed insurance agents who specialize in serving the health insurance needs of small businesses.
| 4,748 | 5,721 |
msmarco_v2.1_doc_01_1666375050#11_2442302368
|
http://insurance.mo.gov/consumers/smallbusiness/health.php
|
Small Business - Health Insurance Information | Missouri Department of Insurance, Financial Institutions & Professional Registration
|
Small Business - Health Insurance Information
Small Business - Health Insurance Information
Small business - group health insurance
Do I have to offer health insurance to my employees?
Who regulates group health plans?
What does it mean to be fully-insured or self-insured?
What types of plans are available for small businesses?
How do I purchase group health insurance for my small business?
In addition to health insurance, what other types of coverage/benefits can I offer my employees?
Who qualifies for coverage?
How does COBRA and Missouri State Continuation work?
Beware of “alternative” types of health insurance – or outright fakes
What can I do if I am experiencing issues with an insurance carrier?
|
Insurance carriers maintain websites through which, typically, you can search for and purchase their health insurance products. Some carriers will allow you to conduct the quoting and enrollment process online; however, some may require you to call the carrier directly. An enrollment/eligibility specialist will then assist you through the process of purchasing a health insurance (or related) product. Before purchasing, interview several licensed insurance agents who specialize in serving the health insurance needs of small businesses. Shop around: compare the costs of equivalent coverage from several insurers to be sure you’re getting the best deal. Understand the factors that affect your premium costs. Some cost factors are clearly outside of your control. Other cost factors can be managed, such as:
| 5,181 | 5,992 |
msmarco_v2.1_doc_01_1666375050#12_2442304264
|
http://insurance.mo.gov/consumers/smallbusiness/health.php
|
Small Business - Health Insurance Information | Missouri Department of Insurance, Financial Institutions & Professional Registration
|
Small Business - Health Insurance Information
Small Business - Health Insurance Information
Small business - group health insurance
Do I have to offer health insurance to my employees?
Who regulates group health plans?
What does it mean to be fully-insured or self-insured?
What types of plans are available for small businesses?
How do I purchase group health insurance for my small business?
In addition to health insurance, what other types of coverage/benefits can I offer my employees?
Who qualifies for coverage?
How does COBRA and Missouri State Continuation work?
Beware of “alternative” types of health insurance – or outright fakes
What can I do if I am experiencing issues with an insurance carrier?
|
Shop around: compare the costs of equivalent coverage from several insurers to be sure you’re getting the best deal. Understand the factors that affect your premium costs. Some cost factors are clearly outside of your control. Other cost factors can be managed, such as: The type of health plan you select. For example, HMOs are typically less expensive than PPOs; both are less expensive than indemnity plans. Indemnity plans, also known as “Fee for Service” plans, allow you to visit almost any provider you choose and the health carrier pays a set portion of the total bill. The specific benefits you select.
| 5,721 | 6,333 |
msmarco_v2.1_doc_01_1666375050#13_2442305970
|
http://insurance.mo.gov/consumers/smallbusiness/health.php
|
Small Business - Health Insurance Information | Missouri Department of Insurance, Financial Institutions & Professional Registration
|
Small Business - Health Insurance Information
Small Business - Health Insurance Information
Small business - group health insurance
Do I have to offer health insurance to my employees?
Who regulates group health plans?
What does it mean to be fully-insured or self-insured?
What types of plans are available for small businesses?
How do I purchase group health insurance for my small business?
In addition to health insurance, what other types of coverage/benefits can I offer my employees?
Who qualifies for coverage?
How does COBRA and Missouri State Continuation work?
Beware of “alternative” types of health insurance – or outright fakes
What can I do if I am experiencing issues with an insurance carrier?
|
The type of health plan you select. For example, HMOs are typically less expensive than PPOs; both are less expensive than indemnity plans. Indemnity plans, also known as “Fee for Service” plans, allow you to visit almost any provider you choose and the health carrier pays a set portion of the total bill. The specific benefits you select. For example, choosing higher deductibles, co-payments and maximum out-of-pocket limits can lower monthly premiums. On the other hand, choosing lower lifetime medical limits can lower premiums. The costs you transfer to your employees. Most small businesses ask their employees to bear a portion of the cost of their health insurance premiums. While this doesn’t affect the premium charged by the insurer, it does affect the amount the employer pays.
| 5,992 | 6,783 |
msmarco_v2.1_doc_01_1666375050#14_2442307855
|
http://insurance.mo.gov/consumers/smallbusiness/health.php
|
Small Business - Health Insurance Information | Missouri Department of Insurance, Financial Institutions & Professional Registration
|
Small Business - Health Insurance Information
Small Business - Health Insurance Information
Small business - group health insurance
Do I have to offer health insurance to my employees?
Who regulates group health plans?
What does it mean to be fully-insured or self-insured?
What types of plans are available for small businesses?
How do I purchase group health insurance for my small business?
In addition to health insurance, what other types of coverage/benefits can I offer my employees?
Who qualifies for coverage?
How does COBRA and Missouri State Continuation work?
Beware of “alternative” types of health insurance – or outright fakes
What can I do if I am experiencing issues with an insurance carrier?
|
For example, choosing higher deductibles, co-payments and maximum out-of-pocket limits can lower monthly premiums. On the other hand, choosing lower lifetime medical limits can lower premiums. The costs you transfer to your employees. Most small businesses ask their employees to bear a portion of the cost of their health insurance premiums. While this doesn’t affect the premium charged by the insurer, it does affect the amount the employer pays. Talk to other small business owners to find out about their experiences with different kinds of health plans and insurers. Check to verify that both your agent and the insurance company are licensed in Missouri. You can do this online or by calling the Missouri Insurance Consumer Hotline at 1-800-726-7390. Agent licensing
Company licensing
Look into the complaint history of the insurer you’re considering. You can find that out using our complaint index page or calling the Missouri Insurance Consumer Hotline at 1-800-726-7390.
| 6,334 | 7,315 |
msmarco_v2.1_doc_01_1666375050#15_2442309928
|
http://insurance.mo.gov/consumers/smallbusiness/health.php
|
Small Business - Health Insurance Information | Missouri Department of Insurance, Financial Institutions & Professional Registration
|
Small Business - Health Insurance Information
Small Business - Health Insurance Information
Small business - group health insurance
Do I have to offer health insurance to my employees?
Who regulates group health plans?
What does it mean to be fully-insured or self-insured?
What types of plans are available for small businesses?
How do I purchase group health insurance for my small business?
In addition to health insurance, what other types of coverage/benefits can I offer my employees?
Who qualifies for coverage?
How does COBRA and Missouri State Continuation work?
Beware of “alternative” types of health insurance – or outright fakes
What can I do if I am experiencing issues with an insurance carrier?
|
Talk to other small business owners to find out about their experiences with different kinds of health plans and insurers. Check to verify that both your agent and the insurance company are licensed in Missouri. You can do this online or by calling the Missouri Insurance Consumer Hotline at 1-800-726-7390. Agent licensing
Company licensing
Look into the complaint history of the insurer you’re considering. You can find that out using our complaint index page or calling the Missouri Insurance Consumer Hotline at 1-800-726-7390. In addition to health insurance, what other types of coverage/benefits can I offer my employees? There is a plethora of additional benefits available for small groups such as: dental insurance, long-term care insurance, short-term disability, long-term disability, life insurance, flexible spending arrangements (FSA – cafeteria plans), health savings accounts (HSA), health reimbursement accounts (HRA), vision insurance, etc. The number and type of benefits offered is up to the small business owner. Who qualifies for coverage?
| 6,783 | 7,846 |
msmarco_v2.1_doc_01_1666375050#16_2442312082
|
http://insurance.mo.gov/consumers/smallbusiness/health.php
|
Small Business - Health Insurance Information | Missouri Department of Insurance, Financial Institutions & Professional Registration
|
Small Business - Health Insurance Information
Small Business - Health Insurance Information
Small business - group health insurance
Do I have to offer health insurance to my employees?
Who regulates group health plans?
What does it mean to be fully-insured or self-insured?
What types of plans are available for small businesses?
How do I purchase group health insurance for my small business?
In addition to health insurance, what other types of coverage/benefits can I offer my employees?
Who qualifies for coverage?
How does COBRA and Missouri State Continuation work?
Beware of “alternative” types of health insurance – or outright fakes
What can I do if I am experiencing issues with an insurance carrier?
|
In addition to health insurance, what other types of coverage/benefits can I offer my employees? There is a plethora of additional benefits available for small groups such as: dental insurance, long-term care insurance, short-term disability, long-term disability, life insurance, flexible spending arrangements (FSA – cafeteria plans), health savings accounts (HSA), health reimbursement accounts (HRA), vision insurance, etc. The number and type of benefits offered is up to the small business owner. Who qualifies for coverage? Typically, employees working 30 or more hours per week will qualify for coverage under a group’s health plan. However, an employer may offer coverage to an employee working less than 30 hours per week so long as the coverage is being offered to all similarly situated employees. An employer may not discriminate amongst similarly situated employees for any reason, especially for past or current medical issues. How does COBRA and Missouri State Continuation work? The Consolidated Omnibus Budget Reconciliation Act (COBRA) applies to groups with 20 or more full-time employees.
| 7,315 | 8,425 |
msmarco_v2.1_doc_01_1666375050#17_2442314281
|
http://insurance.mo.gov/consumers/smallbusiness/health.php
|
Small Business - Health Insurance Information | Missouri Department of Insurance, Financial Institutions & Professional Registration
|
Small Business - Health Insurance Information
Small Business - Health Insurance Information
Small business - group health insurance
Do I have to offer health insurance to my employees?
Who regulates group health plans?
What does it mean to be fully-insured or self-insured?
What types of plans are available for small businesses?
How do I purchase group health insurance for my small business?
In addition to health insurance, what other types of coverage/benefits can I offer my employees?
Who qualifies for coverage?
How does COBRA and Missouri State Continuation work?
Beware of “alternative” types of health insurance – or outright fakes
What can I do if I am experiencing issues with an insurance carrier?
|
Typically, employees working 30 or more hours per week will qualify for coverage under a group’s health plan. However, an employer may offer coverage to an employee working less than 30 hours per week so long as the coverage is being offered to all similarly situated employees. An employer may not discriminate amongst similarly situated employees for any reason, especially for past or current medical issues. How does COBRA and Missouri State Continuation work? The Consolidated Omnibus Budget Reconciliation Act (COBRA) applies to groups with 20 or more full-time employees. COBRA allows a terminated employee the right to continue enrollment under the group health plan for a period of 18 months. The termination can be voluntary or involuntary; however, involuntary termination due to misconduct may negate the employee’s right to COBRA coverage. The employer is responsible for notifying the terminated employee of their COBRA rights within a specified timeframe. Certain qualifying events, such as disability, may allow a terminated employee to extend their COBRA benefits past the 18 month time limit.
| 7,846 | 8,957 |
msmarco_v2.1_doc_01_1666375050#18_2442316481
|
http://insurance.mo.gov/consumers/smallbusiness/health.php
|
Small Business - Health Insurance Information | Missouri Department of Insurance, Financial Institutions & Professional Registration
|
Small Business - Health Insurance Information
Small Business - Health Insurance Information
Small business - group health insurance
Do I have to offer health insurance to my employees?
Who regulates group health plans?
What does it mean to be fully-insured or self-insured?
What types of plans are available for small businesses?
How do I purchase group health insurance for my small business?
In addition to health insurance, what other types of coverage/benefits can I offer my employees?
Who qualifies for coverage?
How does COBRA and Missouri State Continuation work?
Beware of “alternative” types of health insurance – or outright fakes
What can I do if I am experiencing issues with an insurance carrier?
|
COBRA allows a terminated employee the right to continue enrollment under the group health plan for a period of 18 months. The termination can be voluntary or involuntary; however, involuntary termination due to misconduct may negate the employee’s right to COBRA coverage. The employer is responsible for notifying the terminated employee of their COBRA rights within a specified timeframe. Certain qualifying events, such as disability, may allow a terminated employee to extend their COBRA benefits past the 18 month time limit. There are also special provisions for dependents/spouses of terminated employees based on the reason (s) for loss of coverage (i.e. death, divorce, etc.). More information on COBRA is available by visiting the US Department of Labor website. Missouri State Continuation applies to groups with less than 20 full-time employees. State Continuation mirrors, for the most part, federal COBRA. The specific provisions for State Continuation are outlined under Section 376.428 RSMo.
| 8,426 | 9,434 |
msmarco_v2.1_doc_01_1666375050#19_2442318574
|
http://insurance.mo.gov/consumers/smallbusiness/health.php
|
Small Business - Health Insurance Information | Missouri Department of Insurance, Financial Institutions & Professional Registration
|
Small Business - Health Insurance Information
Small Business - Health Insurance Information
Small business - group health insurance
Do I have to offer health insurance to my employees?
Who regulates group health plans?
What does it mean to be fully-insured or self-insured?
What types of plans are available for small businesses?
How do I purchase group health insurance for my small business?
In addition to health insurance, what other types of coverage/benefits can I offer my employees?
Who qualifies for coverage?
How does COBRA and Missouri State Continuation work?
Beware of “alternative” types of health insurance – or outright fakes
What can I do if I am experiencing issues with an insurance carrier?
|
There are also special provisions for dependents/spouses of terminated employees based on the reason (s) for loss of coverage (i.e. death, divorce, etc.). More information on COBRA is available by visiting the US Department of Labor website. Missouri State Continuation applies to groups with less than 20 full-time employees. State Continuation mirrors, for the most part, federal COBRA. The specific provisions for State Continuation are outlined under Section 376.428 RSMo. Beware of “alternative” types of health insurance – or outright fakes
Medical discount plans are not insurance
These plans claim to offer discounts for members who use certain doctors, pharmacies and hospitals. Verify these claims with those providers before buying. While these plans are not insurance, they are regulated by the department. Call our Insurance Consumer Hotline to verify the plan is registered as required by Missouri law. Bogus health plans
You may see ads on late-night TV, in spam or in junk faxes offering “unbeatable” low prices on group healt
| 8,958 | 10,000 |
msmarco_v2.1_doc_01_1666387586#0_2442320725
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http://insurance.mo.gov/consumers/wc/losscostmultipliers.php
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Loss Cost Multipliers | Missouri Department of Insurance, Financial Institutions & Professional Registration
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Loss Cost Multipliers
Loss Cost Multipliers
What is a loss cost multiplier?
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Loss Cost Multipliers | Missouri Department of Insurance, Financial Institutions & Professional Registration
Loss Cost Multipliers
What is a loss cost multiplier? Although the National Council on Compensation Insurance is responsible for developing base loss costs for each job classification, the NCCI loss costs only reflect one component of your workers' compensation rate — the pure cost of workers' compensation claims by class code. The pure cost of claims includes the cost of actual medical care provided, lost wages, prescriptions, etc. Loss costs do not include expenses common to all businesses such as salaries, rent and utilities. It is up to each insurance company to develop its own loss cost multipliers (LCM), which is the second component of your rate. This component is based on the company’s own operating expenses, taxes and profit provision. Although insurers may start off with the same base loss cost published by NCCI, their individual LCMs will vary greatly. This means the rate you pay will be different from insurance company to insurance company. The formula below is used to calculate an individual insurance company’s base rate for a particular class code: Rate = Advisory Loss Cost (published by NCCI) * Loss Cost Multiplier
For example:
| 0 | 1,269 |
msmarco_v2.1_doc_01_1666387586#1_2442322406
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http://insurance.mo.gov/consumers/wc/losscostmultipliers.php
|
Loss Cost Multipliers | Missouri Department of Insurance, Financial Institutions & Professional Registration
|
Loss Cost Multipliers
Loss Cost Multipliers
What is a loss cost multiplier?
|
This component is based on the company’s own operating expenses, taxes and profit provision. Although insurers may start off with the same base loss cost published by NCCI, their individual LCMs will vary greatly. This means the rate you pay will be different from insurance company to insurance company. The formula below is used to calculate an individual insurance company’s base rate for a particular class code: Rate = Advisory Loss Cost (published by NCCI) * Loss Cost Multiplier
For example: If one insurance company (A) has an LCM of 1.250 and another insurance company (B) has an LCM of 1.500, the second insurance company will charge 20 percent more for the same class code. *Please note that there are several other factors, including an experience modification, that may be applied to the base premiums before arriving at the final estimated policy premium. Assume the NCCI base loss cost for carpentry is 5.62 and the employer has $60,000 in payroll: Company A would charge 5.62 X 1.250 = 7.025 X 600 (per $100 of payroll) = $4,215 (base premium)
Company B would charge 5.62 X 1.500 = 8.430 X 600 (per $100 of payroll) = $5,058 (base premium)
Loss cost multipliers by company — updated February 10, 2020. Note:
| 771 | 1,994 |
msmarco_v2.1_doc_01_1666387586#2_2442324043
|
http://insurance.mo.gov/consumers/wc/losscostmultipliers.php
|
Loss Cost Multipliers | Missouri Department of Insurance, Financial Institutions & Professional Registration
|
Loss Cost Multipliers
Loss Cost Multipliers
What is a loss cost multiplier?
|
If one insurance company (A) has an LCM of 1.250 and another insurance company (B) has an LCM of 1.500, the second insurance company will charge 20 percent more for the same class code. *Please note that there are several other factors, including an experience modification, that may be applied to the base premiums before arriving at the final estimated policy premium. Assume the NCCI base loss cost for carpentry is 5.62 and the employer has $60,000 in payroll: Company A would charge 5.62 X 1.250 = 7.025 X 600 (per $100 of payroll) = $4,215 (base premium)
Company B would charge 5.62 X 1.500 = 8.430 X 600 (per $100 of payroll) = $5,058 (base premium)
Loss cost multipliers by company — updated February 10, 2020. Note: Some companies will file deviated LCMs for some classes. In these instances, the list will reflect the average LCM rather than the base LCM filed by the company.
| 1,270 | 2,156 |
msmarco_v2.1_doc_01_1666390118#0_2442325333
|
http://insurance.mo.gov/earthquake/
|
Earthquake Insurance | Missouri Department of Insurance, Financial Institutions and Professional Registration
|
Earthquake Insurance
Earthquake Insurance
About earthquake insurance
|
Earthquake Insurance | Missouri Department of Insurance, Financial Institutions and Professional Registration
Earthquake Insurance
About earthquake insurance
Missouri is the third largest market for earthquake insurance among the states, exceeded only by California and Washington. A study by the U.S. Geological Survey estimates the probability of a magnitude 7.5 or greater earthquake in the New Madrid zone over the next 50 years is 7-10 percent. The probability of an earthquake exceeding magnitude 6 over the same period is 25-40 percent. A joint assessment by the Mid-America Earthquake Center of the University of Illinois and the Federal Emergency Management Agency predicts the New Madrid event could constitute the highest total economic loss of any natural disaster in U.S. history. Earthquake coverage is not included on most homeowners insurance policies. It must be purchased as separate coverage, called an "endorsement" or as a stand-alone policy. This type of insurance requires that the earthquake is the direct cause of damage to the property. Natural disasters can, in many instances, trigger other events that may also damage property. One example is earthquakes causing bodies of water to produce waves, resulting in flooding. What is covered
Earthquake coverage pays for damage caused by the shaking and cracking that can damage homes and other structures.
| 0 | 1,379 |
msmarco_v2.1_doc_01_1666390118#1_2442327081
|
http://insurance.mo.gov/earthquake/
|
Earthquake Insurance | Missouri Department of Insurance, Financial Institutions and Professional Registration
|
Earthquake Insurance
Earthquake Insurance
About earthquake insurance
|
It must be purchased as separate coverage, called an "endorsement" or as a stand-alone policy. This type of insurance requires that the earthquake is the direct cause of damage to the property. Natural disasters can, in many instances, trigger other events that may also damage property. One example is earthquakes causing bodies of water to produce waves, resulting in flooding. What is covered
Earthquake coverage pays for damage caused by the shaking and cracking that can damage homes and other structures. Other damage indirectly caused by earthquakes may be covered by other insurance. Fire and water damage due to burst gas and water pipes - even though it may be caused by a quake - is generally covered by the standard portion of the homeowners policy. Earthquake damage to vehicles is covered by the comprehensive portion of auto policies. Pricing and availability
Earthquake insurance usually features two high deductibles: Rather than a dollar amount, it's a percentage of the cost of rebuilding the home and a separate deductible for the home's contents.
| 869 | 1,936 |
msmarco_v2.1_doc_01_1666390118#2_2442328517
|
http://insurance.mo.gov/earthquake/
|
Earthquake Insurance | Missouri Department of Insurance, Financial Institutions and Professional Registration
|
Earthquake Insurance
Earthquake Insurance
About earthquake insurance
|
Other damage indirectly caused by earthquakes may be covered by other insurance. Fire and water damage due to burst gas and water pipes - even though it may be caused by a quake - is generally covered by the standard portion of the homeowners policy. Earthquake damage to vehicles is covered by the comprehensive portion of auto policies. Pricing and availability
Earthquake insurance usually features two high deductibles: Rather than a dollar amount, it's a percentage of the cost of rebuilding the home and a separate deductible for the home's contents. Deductibles of 10-15 percent are common. For example, with a 15 percent deductible, the owner of a $200,000 home could expect to pay up to $30,000 in deductibles for damage to the dwelling before receiving any benefit from their earthquake insurance policy. The material used to build the home can also determine premiums or whether your home is even insurable. For instance, premiums may be lower for wood-frame homes, which withstand tremors better than homes made of masonry such as brick and stone. Single-story homes may also have lower premiums as they tend to sustain less damage from an earthquake.
| 1,380 | 2,543 |
msmarco_v2.1_doc_01_1666390118#3_2442330047
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http://insurance.mo.gov/earthquake/
|
Earthquake Insurance | Missouri Department of Insurance, Financial Institutions and Professional Registration
|
Earthquake Insurance
Earthquake Insurance
About earthquake insurance
|
Deductibles of 10-15 percent are common. For example, with a 15 percent deductible, the owner of a $200,000 home could expect to pay up to $30,000 in deductibles for damage to the dwelling before receiving any benefit from their earthquake insurance policy. The material used to build the home can also determine premiums or whether your home is even insurable. For instance, premiums may be lower for wood-frame homes, which withstand tremors better than homes made of masonry such as brick and stone. Single-story homes may also have lower premiums as they tend to sustain less damage from an earthquake. Age of the home can also affect premiums. Some insurers will not offer earthquake insurance for masonry homes. Resource Materials
DCI has recognized the significance of informing consumers about insurers that offer earthquake coverage, and reasons for considering why they should obtain insurance for damages caused by a catastrophic event. With significant portions of Missouri property owners exposed to the New Madrid Earthquake Zone, DCI finds it essential to provide consumers with updated information regarding from whom and where earthquake insurance is available. For more information regarding the Missouri earthquake insurance market, please review the Earthquake Shopping Guide and the Earthquake Report.
| 1,937 | 3,259 |
msmarco_v2.1_doc_01_1666390118#4_2442331736
|
http://insurance.mo.gov/earthquake/
|
Earthquake Insurance | Missouri Department of Insurance, Financial Institutions and Professional Registration
|
Earthquake Insurance
Earthquake Insurance
About earthquake insurance
|
Age of the home can also affect premiums. Some insurers will not offer earthquake insurance for masonry homes. Resource Materials
DCI has recognized the significance of informing consumers about insurers that offer earthquake coverage, and reasons for considering why they should obtain insurance for damages caused by a catastrophic event. With significant portions of Missouri property owners exposed to the New Madrid Earthquake Zone, DCI finds it essential to provide consumers with updated information regarding from whom and where earthquake insurance is available. For more information regarding the Missouri earthquake insurance market, please review the Earthquake Shopping Guide and the Earthquake Report. For more information on obtaining or maintaining coverage speak with your agent. 2021 Earthquake Coverage Chart
2015 Earthquake Report
2015 Earthquake Report Supplement
| 2,544 | 3,428 |
msmarco_v2.1_doc_01_1666393873#0_2442332989
|
http://insurance.mo.gov/industry/faq/license.php
|
Agent/Producer/Agency Licensing FAQs | Missouri Department of Commerce & Insurance
|
Agent/Producer/Agency Licensing FAQs
Agent/Producer/Agency Licensing FAQs
What types of licenses are issued?
Can I still get a license if I have a criminal conviction?
How do I apply to take an examination?
As a veteran, can I be reimbursed for the cost of a licensing exam required by the department?
I have a license in another state. Do I still have to take an examination?
How do I apply for a producer/business entity producer license or add lines to my current producer license?
How does an insurance company notify the department of my appointment or termination as an agent?
How do I renew my license?
When will the department terminate my license?
How can I get my license reinstated after I was terminated?
My license got destroyed or lost. How do I print a new one?
My name or address changed. What do I need to do?
How do I meet my continuing education requirements?
How do I pay my fees?
How do I contact the Licensing Section?
Is there a specific statute or regulation that deals with how long an insurance company or agency must retain customer policy and claims' information?
What are the CMS rules for soliciting Medicare Advantage and prescription drug plans?
What are the suitability standards that I should consider when discussing life insurance, long-term care or annuities with my clients?
|
Agent/Producer/Agency Licensing FAQs | Missouri Department of Commerce & Insurance
Agent/Producer/Agency Licensing FAQs
What types of licenses does DCI issue? Can I still get a license if I have a criminal conviction? How do I apply to take an examination? As a veteran, can I be reimbursed for the cost of a licensing exam required by the department? I have a license in another state. Do I still have to take an examination? How do I apply for a producer/business entity producer license or add lines to my current producer license? How does an insurance company notify the department of my appointment or termination as an agent? How do I renew my license? When will Insurance terminate my license?
| 0 | 701 |
msmarco_v2.1_doc_01_1666393873#1_2442335301
|
http://insurance.mo.gov/industry/faq/license.php
|
Agent/Producer/Agency Licensing FAQs | Missouri Department of Commerce & Insurance
|
Agent/Producer/Agency Licensing FAQs
Agent/Producer/Agency Licensing FAQs
What types of licenses are issued?
Can I still get a license if I have a criminal conviction?
How do I apply to take an examination?
As a veteran, can I be reimbursed for the cost of a licensing exam required by the department?
I have a license in another state. Do I still have to take an examination?
How do I apply for a producer/business entity producer license or add lines to my current producer license?
How does an insurance company notify the department of my appointment or termination as an agent?
How do I renew my license?
When will the department terminate my license?
How can I get my license reinstated after I was terminated?
My license got destroyed or lost. How do I print a new one?
My name or address changed. What do I need to do?
How do I meet my continuing education requirements?
How do I pay my fees?
How do I contact the Licensing Section?
Is there a specific statute or regulation that deals with how long an insurance company or agency must retain customer policy and claims' information?
What are the CMS rules for soliciting Medicare Advantage and prescription drug plans?
What are the suitability standards that I should consider when discussing life insurance, long-term care or annuities with my clients?
|
Do I still have to take an examination? How do I apply for a producer/business entity producer license or add lines to my current producer license? How does an insurance company notify the department of my appointment or termination as an agent? How do I renew my license? When will Insurance terminate my license? How can I get my license reinstated after I was terminated? My license got destroyed or lost. How do I print a new one? My name or address changed. What do I need to do?
| 387 | 871 |
msmarco_v2.1_doc_01_1666393873#2_2442337396
|
http://insurance.mo.gov/industry/faq/license.php
|
Agent/Producer/Agency Licensing FAQs | Missouri Department of Commerce & Insurance
|
Agent/Producer/Agency Licensing FAQs
Agent/Producer/Agency Licensing FAQs
What types of licenses are issued?
Can I still get a license if I have a criminal conviction?
How do I apply to take an examination?
As a veteran, can I be reimbursed for the cost of a licensing exam required by the department?
I have a license in another state. Do I still have to take an examination?
How do I apply for a producer/business entity producer license or add lines to my current producer license?
How does an insurance company notify the department of my appointment or termination as an agent?
How do I renew my license?
When will the department terminate my license?
How can I get my license reinstated after I was terminated?
My license got destroyed or lost. How do I print a new one?
My name or address changed. What do I need to do?
How do I meet my continuing education requirements?
How do I pay my fees?
How do I contact the Licensing Section?
Is there a specific statute or regulation that deals with how long an insurance company or agency must retain customer policy and claims' information?
What are the CMS rules for soliciting Medicare Advantage and prescription drug plans?
What are the suitability standards that I should consider when discussing life insurance, long-term care or annuities with my clients?
|
How can I get my license reinstated after I was terminated? My license got destroyed or lost. How do I print a new one? My name or address changed. What do I need to do? How do I meet my continuing education requirements? How do I pay my fees? How do I contact the Licensing Section? Is there a specific statute or regulation that deals with how long an insurance company or agency must retain customer policy and claims' information? What are the CMS rules for the solicitation of Medicare Advantage and prescription drug plans?
| 701 | 1,231 |
msmarco_v2.1_doc_01_1666393873#3_2442339537
|
http://insurance.mo.gov/industry/faq/license.php
|
Agent/Producer/Agency Licensing FAQs | Missouri Department of Commerce & Insurance
|
Agent/Producer/Agency Licensing FAQs
Agent/Producer/Agency Licensing FAQs
What types of licenses are issued?
Can I still get a license if I have a criminal conviction?
How do I apply to take an examination?
As a veteran, can I be reimbursed for the cost of a licensing exam required by the department?
I have a license in another state. Do I still have to take an examination?
How do I apply for a producer/business entity producer license or add lines to my current producer license?
How does an insurance company notify the department of my appointment or termination as an agent?
How do I renew my license?
When will the department terminate my license?
How can I get my license reinstated after I was terminated?
My license got destroyed or lost. How do I print a new one?
My name or address changed. What do I need to do?
How do I meet my continuing education requirements?
How do I pay my fees?
How do I contact the Licensing Section?
Is there a specific statute or regulation that deals with how long an insurance company or agency must retain customer policy and claims' information?
What are the CMS rules for soliciting Medicare Advantage and prescription drug plans?
What are the suitability standards that I should consider when discussing life insurance, long-term care or annuities with my clients?
|
How do I meet my continuing education requirements? How do I pay my fees? How do I contact the Licensing Section? Is there a specific statute or regulation that deals with how long an insurance company or agency must retain customer policy and claims' information? What are the CMS rules for the solicitation of Medicare Advantage and prescription drug plans? What are the suitability standards that I should consider when discussing life insurance, long-term care or annuities with my clients? What types of licenses are issued? Insurance Licensing issues producer licenses for the following lines: Life
Life, variable contract
Accident and health
General casualty
Property
Personal lines
Title
Restricted to credit (No exam required)
Restricted to travel (No exam required)
Crop
Business entity producers must be licensed separately from its producers. A business entity producer can only solicit, negotiate or produce insurance contracts through licensed producers.
| 871 | 1,840 |
msmarco_v2.1_doc_01_1666393873#4_2442342127
|
http://insurance.mo.gov/industry/faq/license.php
|
Agent/Producer/Agency Licensing FAQs | Missouri Department of Commerce & Insurance
|
Agent/Producer/Agency Licensing FAQs
Agent/Producer/Agency Licensing FAQs
What types of licenses are issued?
Can I still get a license if I have a criminal conviction?
How do I apply to take an examination?
As a veteran, can I be reimbursed for the cost of a licensing exam required by the department?
I have a license in another state. Do I still have to take an examination?
How do I apply for a producer/business entity producer license or add lines to my current producer license?
How does an insurance company notify the department of my appointment or termination as an agent?
How do I renew my license?
When will the department terminate my license?
How can I get my license reinstated after I was terminated?
My license got destroyed or lost. How do I print a new one?
My name or address changed. What do I need to do?
How do I meet my continuing education requirements?
How do I pay my fees?
How do I contact the Licensing Section?
Is there a specific statute or regulation that deals with how long an insurance company or agency must retain customer policy and claims' information?
What are the CMS rules for soliciting Medicare Advantage and prescription drug plans?
What are the suitability standards that I should consider when discussing life insurance, long-term care or annuities with my clients?
|
What are the suitability standards that I should consider when discussing life insurance, long-term care or annuities with my clients? What types of licenses are issued? Insurance Licensing issues producer licenses for the following lines: Life
Life, variable contract
Accident and health
General casualty
Property
Personal lines
Title
Restricted to credit (No exam required)
Restricted to travel (No exam required)
Crop
Business entity producers must be licensed separately from its producers. A business entity producer can only solicit, negotiate or produce insurance contracts through licensed producers. Please contact the Licensing Section for information on the following licenses: Bail bond agent
General bail bond agent
Surety recovery agent
Surplus lines
Public adjuster
Public adjuster solicitor
Can I still get a license if I have a criminal conviction? You are not automatically disqualified from obtaining a license if you have a criminal record. On the application for a license, there are specific instructions about the information to provide about your criminal record on the conviction. A signed statement describing the circumstances surrounding your arrest, the charges and the conviction.
| 1,231 | 2,442 |
msmarco_v2.1_doc_01_1666393873#5_2442344966
|
http://insurance.mo.gov/industry/faq/license.php
|
Agent/Producer/Agency Licensing FAQs | Missouri Department of Commerce & Insurance
|
Agent/Producer/Agency Licensing FAQs
Agent/Producer/Agency Licensing FAQs
What types of licenses are issued?
Can I still get a license if I have a criminal conviction?
How do I apply to take an examination?
As a veteran, can I be reimbursed for the cost of a licensing exam required by the department?
I have a license in another state. Do I still have to take an examination?
How do I apply for a producer/business entity producer license or add lines to my current producer license?
How does an insurance company notify the department of my appointment or termination as an agent?
How do I renew my license?
When will the department terminate my license?
How can I get my license reinstated after I was terminated?
My license got destroyed or lost. How do I print a new one?
My name or address changed. What do I need to do?
How do I meet my continuing education requirements?
How do I pay my fees?
How do I contact the Licensing Section?
Is there a specific statute or regulation that deals with how long an insurance company or agency must retain customer policy and claims' information?
What are the CMS rules for soliciting Medicare Advantage and prescription drug plans?
What are the suitability standards that I should consider when discussing life insurance, long-term care or annuities with my clients?
|
Please contact the Licensing Section for information on the following licenses: Bail bond agent
General bail bond agent
Surety recovery agent
Surplus lines
Public adjuster
Public adjuster solicitor
Can I still get a license if I have a criminal conviction? You are not automatically disqualified from obtaining a license if you have a criminal record. On the application for a license, there are specific instructions about the information to provide about your criminal record on the conviction. A signed statement describing the circumstances surrounding your arrest, the charges and the conviction. Provide a certified copy of the Indictment or Information and the Judgment and Sentencing documents that show the disposition of each criminal charge. Submit complete information with your application. How do I apply to take an examination? Contact Pearson VUE for the Licensing Information Bulletin, which contains step-by-step instructions and the examination and license applications. Pearson VUE
Missouri Insurance
PO Box 8588
Philadelphia, PA 19101-8588
866-274-4740
www.pearsonvue.com
Pearson VUE will notify Insurance of your exam results, but you must apply for your license to Insurance within one year of passing the exam.
| 1,840 | 3,075 |
msmarco_v2.1_doc_01_1666393873#6_2442347825
|
http://insurance.mo.gov/industry/faq/license.php
|
Agent/Producer/Agency Licensing FAQs | Missouri Department of Commerce & Insurance
|
Agent/Producer/Agency Licensing FAQs
Agent/Producer/Agency Licensing FAQs
What types of licenses are issued?
Can I still get a license if I have a criminal conviction?
How do I apply to take an examination?
As a veteran, can I be reimbursed for the cost of a licensing exam required by the department?
I have a license in another state. Do I still have to take an examination?
How do I apply for a producer/business entity producer license or add lines to my current producer license?
How does an insurance company notify the department of my appointment or termination as an agent?
How do I renew my license?
When will the department terminate my license?
How can I get my license reinstated after I was terminated?
My license got destroyed or lost. How do I print a new one?
My name or address changed. What do I need to do?
How do I meet my continuing education requirements?
How do I pay my fees?
How do I contact the Licensing Section?
Is there a specific statute or regulation that deals with how long an insurance company or agency must retain customer policy and claims' information?
What are the CMS rules for soliciting Medicare Advantage and prescription drug plans?
What are the suitability standards that I should consider when discussing life insurance, long-term care or annuities with my clients?
|
Provide a certified copy of the Indictment or Information and the Judgment and Sentencing documents that show the disposition of each criminal charge. Submit complete information with your application. How do I apply to take an examination? Contact Pearson VUE for the Licensing Information Bulletin, which contains step-by-step instructions and the examination and license applications. Pearson VUE
Missouri Insurance
PO Box 8588
Philadelphia, PA 19101-8588
866-274-4740
www.pearsonvue.com
Pearson VUE will notify Insurance of your exam results, but you must apply for your license to Insurance within one year of passing the exam. The exam scores are only valid for one year. As a veteran, can I be reimbursed for the cost of a licensing exam required by the department? Yes. Veterans taking a state licensing examination required by the department can be reimbursed for the cost of the exam. Click here to learn more and see which licensing exams are eligible for reimbursement.
| 2,442 | 3,424 |
msmarco_v2.1_doc_01_1666393873#7_2442350425
|
http://insurance.mo.gov/industry/faq/license.php
|
Agent/Producer/Agency Licensing FAQs | Missouri Department of Commerce & Insurance
|
Agent/Producer/Agency Licensing FAQs
Agent/Producer/Agency Licensing FAQs
What types of licenses are issued?
Can I still get a license if I have a criminal conviction?
How do I apply to take an examination?
As a veteran, can I be reimbursed for the cost of a licensing exam required by the department?
I have a license in another state. Do I still have to take an examination?
How do I apply for a producer/business entity producer license or add lines to my current producer license?
How does an insurance company notify the department of my appointment or termination as an agent?
How do I renew my license?
When will the department terminate my license?
How can I get my license reinstated after I was terminated?
My license got destroyed or lost. How do I print a new one?
My name or address changed. What do I need to do?
How do I meet my continuing education requirements?
How do I pay my fees?
How do I contact the Licensing Section?
Is there a specific statute or regulation that deals with how long an insurance company or agency must retain customer policy and claims' information?
What are the CMS rules for soliciting Medicare Advantage and prescription drug plans?
What are the suitability standards that I should consider when discussing life insurance, long-term care or annuities with my clients?
|
The exam scores are only valid for one year. As a veteran, can I be reimbursed for the cost of a licensing exam required by the department? Yes. Veterans taking a state licensing examination required by the department can be reimbursed for the cost of the exam. Click here to learn more and see which licensing exams are eligible for reimbursement. I have a license in another state. Do I still have to take an examination? No. If you hold a resident agent, broker or producer license in another state, you are not required to take an examination for those lines in which you are licensed, with the exception of Title agents. This exemption applies to residents of those states that award licenses to Missouri residents on the same basis.
| 3,076 | 3,814 |
msmarco_v2.1_doc_01_1666393873#8_2442352776
|
http://insurance.mo.gov/industry/faq/license.php
|
Agent/Producer/Agency Licensing FAQs | Missouri Department of Commerce & Insurance
|
Agent/Producer/Agency Licensing FAQs
Agent/Producer/Agency Licensing FAQs
What types of licenses are issued?
Can I still get a license if I have a criminal conviction?
How do I apply to take an examination?
As a veteran, can I be reimbursed for the cost of a licensing exam required by the department?
I have a license in another state. Do I still have to take an examination?
How do I apply for a producer/business entity producer license or add lines to my current producer license?
How does an insurance company notify the department of my appointment or termination as an agent?
How do I renew my license?
When will the department terminate my license?
How can I get my license reinstated after I was terminated?
My license got destroyed or lost. How do I print a new one?
My name or address changed. What do I need to do?
How do I meet my continuing education requirements?
How do I pay my fees?
How do I contact the Licensing Section?
Is there a specific statute or regulation that deals with how long an insurance company or agency must retain customer policy and claims' information?
What are the CMS rules for soliciting Medicare Advantage and prescription drug plans?
What are the suitability standards that I should consider when discussing life insurance, long-term care or annuities with my clients?
|
I have a license in another state. Do I still have to take an examination? No. If you hold a resident agent, broker or producer license in another state, you are not required to take an examination for those lines in which you are licensed, with the exception of Title agents. This exemption applies to residents of those states that award licenses to Missouri residents on the same basis. If you have just moved to Missouri, you will not have to take an exam if you hold a current agent, broker or producer license in another state, or have held a current agent, broker or producer license in another state within the past 90 days, and apply within 90 days of relocating to Missouri. How do I apply for a producer/business entity producer license or add lines to my current producer license? Producer
Business Entity Producer (Agency)
Form
Uniform Application for Resident Individual Insurance Producer License
Uniform Application for Business Entity License/Registration
Fee
$100
$100
Fee may be paid by check or money order, made payable to Department of Commerce & Insurance. How does an insurance company notify the department of my appointment or termination as an agent? Insurance companies do not have to notify the department of appointments.
| 3,424 | 4,677 |
msmarco_v2.1_doc_01_1666393873#9_2442355648
|
http://insurance.mo.gov/industry/faq/license.php
|
Agent/Producer/Agency Licensing FAQs | Missouri Department of Commerce & Insurance
|
Agent/Producer/Agency Licensing FAQs
Agent/Producer/Agency Licensing FAQs
What types of licenses are issued?
Can I still get a license if I have a criminal conviction?
How do I apply to take an examination?
As a veteran, can I be reimbursed for the cost of a licensing exam required by the department?
I have a license in another state. Do I still have to take an examination?
How do I apply for a producer/business entity producer license or add lines to my current producer license?
How does an insurance company notify the department of my appointment or termination as an agent?
How do I renew my license?
When will the department terminate my license?
How can I get my license reinstated after I was terminated?
My license got destroyed or lost. How do I print a new one?
My name or address changed. What do I need to do?
How do I meet my continuing education requirements?
How do I pay my fees?
How do I contact the Licensing Section?
Is there a specific statute or regulation that deals with how long an insurance company or agency must retain customer policy and claims' information?
What are the CMS rules for soliciting Medicare Advantage and prescription drug plans?
What are the suitability standards that I should consider when discussing life insurance, long-term care or annuities with my clients?
|
If you have just moved to Missouri, you will not have to take an exam if you hold a current agent, broker or producer license in another state, or have held a current agent, broker or producer license in another state within the past 90 days, and apply within 90 days of relocating to Missouri. How do I apply for a producer/business entity producer license or add lines to my current producer license? Producer
Business Entity Producer (Agency)
Form
Uniform Application for Resident Individual Insurance Producer License
Uniform Application for Business Entity License/Registration
Fee
$100
$100
Fee may be paid by check or money order, made payable to Department of Commerce & Insurance. How does an insurance company notify the department of my appointment or termination as an agent? Insurance companies do not have to notify the department of appointments. Companies are required to maintain an internally updated register of appointed and terminated producers. No fees will be assessed for appointments or terminations. The appointment must be recorded in the company register within thirty days of an insurer authorizing a producer to transact business on its behalf. Some terminations must be reported to the department. Terminations must be reported in two instances:
| 3,814 | 5,092 |
msmarco_v2.1_doc_01_1666393873#10_2442358545
|
http://insurance.mo.gov/industry/faq/license.php
|
Agent/Producer/Agency Licensing FAQs | Missouri Department of Commerce & Insurance
|
Agent/Producer/Agency Licensing FAQs
Agent/Producer/Agency Licensing FAQs
What types of licenses are issued?
Can I still get a license if I have a criminal conviction?
How do I apply to take an examination?
As a veteran, can I be reimbursed for the cost of a licensing exam required by the department?
I have a license in another state. Do I still have to take an examination?
How do I apply for a producer/business entity producer license or add lines to my current producer license?
How does an insurance company notify the department of my appointment or termination as an agent?
How do I renew my license?
When will the department terminate my license?
How can I get my license reinstated after I was terminated?
My license got destroyed or lost. How do I print a new one?
My name or address changed. What do I need to do?
How do I meet my continuing education requirements?
How do I pay my fees?
How do I contact the Licensing Section?
Is there a specific statute or regulation that deals with how long an insurance company or agency must retain customer policy and claims' information?
What are the CMS rules for soliciting Medicare Advantage and prescription drug plans?
What are the suitability standards that I should consider when discussing life insurance, long-term care or annuities with my clients?
|
Companies are required to maintain an internally updated register of appointed and terminated producers. No fees will be assessed for appointments or terminations. The appointment must be recorded in the company register within thirty days of an insurer authorizing a producer to transact business on its behalf. Some terminations must be reported to the department. Terminations must be reported in two instances: 1) when the termination is "for cause" or 2) when the termination is the termination of a title agent or agency. Title insurers are required to report all agency terminations, and the reasons for those terminations, to the director within seven calendar days. When the terminated agent and the insurance company are not in the business of title insurance but the termination is "for cause," the department must be notified within 30 days of the termination. How do I renew my license? The department will send a renewal notice to you 60 to 90 days before your producer or business entity producer license expires.
| 4,678 | 5,706 |
msmarco_v2.1_doc_01_1666393873#11_2442361191
|
http://insurance.mo.gov/industry/faq/license.php
|
Agent/Producer/Agency Licensing FAQs | Missouri Department of Commerce & Insurance
|
Agent/Producer/Agency Licensing FAQs
Agent/Producer/Agency Licensing FAQs
What types of licenses are issued?
Can I still get a license if I have a criminal conviction?
How do I apply to take an examination?
As a veteran, can I be reimbursed for the cost of a licensing exam required by the department?
I have a license in another state. Do I still have to take an examination?
How do I apply for a producer/business entity producer license or add lines to my current producer license?
How does an insurance company notify the department of my appointment or termination as an agent?
How do I renew my license?
When will the department terminate my license?
How can I get my license reinstated after I was terminated?
My license got destroyed or lost. How do I print a new one?
My name or address changed. What do I need to do?
How do I meet my continuing education requirements?
How do I pay my fees?
How do I contact the Licensing Section?
Is there a specific statute or regulation that deals with how long an insurance company or agency must retain customer policy and claims' information?
What are the CMS rules for soliciting Medicare Advantage and prescription drug plans?
What are the suitability standards that I should consider when discussing life insurance, long-term care or annuities with my clients?
|
1) when the termination is "for cause" or 2) when the termination is the termination of a title agent or agency. Title insurers are required to report all agency terminations, and the reasons for those terminations, to the director within seven calendar days. When the terminated agent and the insurance company are not in the business of title insurance but the termination is "for cause," the department must be notified within 30 days of the termination. How do I renew my license? The department will send a renewal notice to you 60 to 90 days before your producer or business entity producer license expires. Your renewal is due on or before the expiration of your license. Licenses will terminate if completed renewal documents are not received by the expiration date. A maximum late renewal period from date of license expiration has been established at twelve months. A $25 per month penalty fee will be assessed. After twelve months, a license may not be renewed and the previous licensee must apply for a new license.
| 5,093 | 6,120 |
msmarco_v2.1_doc_01_1666393873#12_2442363836
|
http://insurance.mo.gov/industry/faq/license.php
|
Agent/Producer/Agency Licensing FAQs | Missouri Department of Commerce & Insurance
|
Agent/Producer/Agency Licensing FAQs
Agent/Producer/Agency Licensing FAQs
What types of licenses are issued?
Can I still get a license if I have a criminal conviction?
How do I apply to take an examination?
As a veteran, can I be reimbursed for the cost of a licensing exam required by the department?
I have a license in another state. Do I still have to take an examination?
How do I apply for a producer/business entity producer license or add lines to my current producer license?
How does an insurance company notify the department of my appointment or termination as an agent?
How do I renew my license?
When will the department terminate my license?
How can I get my license reinstated after I was terminated?
My license got destroyed or lost. How do I print a new one?
My name or address changed. What do I need to do?
How do I meet my continuing education requirements?
How do I pay my fees?
How do I contact the Licensing Section?
Is there a specific statute or regulation that deals with how long an insurance company or agency must retain customer policy and claims' information?
What are the CMS rules for soliciting Medicare Advantage and prescription drug plans?
What are the suitability standards that I should consider when discussing life insurance, long-term care or annuities with my clients?
|
Your renewal is due on or before the expiration of your license. Licenses will terminate if completed renewal documents are not received by the expiration date. A maximum late renewal period from date of license expiration has been established at twelve months. A $25 per month penalty fee will be assessed. After twelve months, a license may not be renewed and the previous licensee must apply for a new license. The renewal fee is $100 for your producer or business entity producer license. Fee may be paid by check or money order, made payable to Department of Commerce & Insurance. Click to renew your license in 3 easy steps. When will the department terminate my license? Your producer and business entity producer license will be terminated if your license is not renewed on or before your expiration date.
| 5,707 | 6,520 |
msmarco_v2.1_doc_01_1666393873#13_2442366263
|
http://insurance.mo.gov/industry/faq/license.php
|
Agent/Producer/Agency Licensing FAQs | Missouri Department of Commerce & Insurance
|
Agent/Producer/Agency Licensing FAQs
Agent/Producer/Agency Licensing FAQs
What types of licenses are issued?
Can I still get a license if I have a criminal conviction?
How do I apply to take an examination?
As a veteran, can I be reimbursed for the cost of a licensing exam required by the department?
I have a license in another state. Do I still have to take an examination?
How do I apply for a producer/business entity producer license or add lines to my current producer license?
How does an insurance company notify the department of my appointment or termination as an agent?
How do I renew my license?
When will the department terminate my license?
How can I get my license reinstated after I was terminated?
My license got destroyed or lost. How do I print a new one?
My name or address changed. What do I need to do?
How do I meet my continuing education requirements?
How do I pay my fees?
How do I contact the Licensing Section?
Is there a specific statute or regulation that deals with how long an insurance company or agency must retain customer policy and claims' information?
What are the CMS rules for soliciting Medicare Advantage and prescription drug plans?
What are the suitability standards that I should consider when discussing life insurance, long-term care or annuities with my clients?
|
The renewal fee is $100 for your producer or business entity producer license. Fee may be paid by check or money order, made payable to Department of Commerce & Insurance. Click to renew your license in 3 easy steps. When will the department terminate my license? Your producer and business entity producer license will be terminated if your license is not renewed on or before your expiration date. How can I get my license reinstated after I was terminated? You must fill out a new producer license application and fulfill all the examination requirements. There is a $100 fee for a producer license. If your license has terminated due to nonrenewal within the past 12 months, you may late renew your license. See "How do I renew my license?"
| 6,120 | 6,865 |
msmarco_v2.1_doc_01_1666393873#14_2442368623
|
http://insurance.mo.gov/industry/faq/license.php
|
Agent/Producer/Agency Licensing FAQs | Missouri Department of Commerce & Insurance
|
Agent/Producer/Agency Licensing FAQs
Agent/Producer/Agency Licensing FAQs
What types of licenses are issued?
Can I still get a license if I have a criminal conviction?
How do I apply to take an examination?
As a veteran, can I be reimbursed for the cost of a licensing exam required by the department?
I have a license in another state. Do I still have to take an examination?
How do I apply for a producer/business entity producer license or add lines to my current producer license?
How does an insurance company notify the department of my appointment or termination as an agent?
How do I renew my license?
When will the department terminate my license?
How can I get my license reinstated after I was terminated?
My license got destroyed or lost. How do I print a new one?
My name or address changed. What do I need to do?
How do I meet my continuing education requirements?
How do I pay my fees?
How do I contact the Licensing Section?
Is there a specific statute or regulation that deals with how long an insurance company or agency must retain customer policy and claims' information?
What are the CMS rules for soliciting Medicare Advantage and prescription drug plans?
What are the suitability standards that I should consider when discussing life insurance, long-term care or annuities with my clients?
|
How can I get my license reinstated after I was terminated? You must fill out a new producer license application and fulfill all the examination requirements. There is a $100 fee for a producer license. If your license has terminated due to nonrenewal within the past 12 months, you may late renew your license. See "How do I renew my license?" If your business entity producer license is terminated, you must request reinstatement by filing a new application and $100 fee. Fee may be paid by check or money order, made payable to Department of Commerce & Insurance
My license got destroyed or lost. How do I print a new one? Click this link to print your license. My name or address changed.
| 6,520 | 7,213 |
msmarco_v2.1_doc_01_1666393873#15_2442370932
|
http://insurance.mo.gov/industry/faq/license.php
|
Agent/Producer/Agency Licensing FAQs | Missouri Department of Commerce & Insurance
|
Agent/Producer/Agency Licensing FAQs
Agent/Producer/Agency Licensing FAQs
What types of licenses are issued?
Can I still get a license if I have a criminal conviction?
How do I apply to take an examination?
As a veteran, can I be reimbursed for the cost of a licensing exam required by the department?
I have a license in another state. Do I still have to take an examination?
How do I apply for a producer/business entity producer license or add lines to my current producer license?
How does an insurance company notify the department of my appointment or termination as an agent?
How do I renew my license?
When will the department terminate my license?
How can I get my license reinstated after I was terminated?
My license got destroyed or lost. How do I print a new one?
My name or address changed. What do I need to do?
How do I meet my continuing education requirements?
How do I pay my fees?
How do I contact the Licensing Section?
Is there a specific statute or regulation that deals with how long an insurance company or agency must retain customer policy and claims' information?
What are the CMS rules for soliciting Medicare Advantage and prescription drug plans?
What are the suitability standards that I should consider when discussing life insurance, long-term care or annuities with my clients?
|
If your business entity producer license is terminated, you must request reinstatement by filing a new application and $100 fee. Fee may be paid by check or money order, made payable to Department of Commerce & Insurance
My license got destroyed or lost. How do I print a new one? Click this link to print your license. My name or address changed. What do I need to do? All changes or corrections to your name, address or SSN must be submitted by the producer in writing. Address changes for producers must be made (in writing) within 30 days on the proper form ( Form 375-0085 ). In lieu of written notification of an address change to MO Department of Commerce & Insurance, an electronic address change may be used. If failure to notify Insurance of your producer address change prevents Insurance from serving you with a complaint, your license may be immediately revoked.
| 6,865 | 7,741 |
msmarco_v2.1_doc_01_1666393873#16_2442373422
|
http://insurance.mo.gov/industry/faq/license.php
|
Agent/Producer/Agency Licensing FAQs | Missouri Department of Commerce & Insurance
|
Agent/Producer/Agency Licensing FAQs
Agent/Producer/Agency Licensing FAQs
What types of licenses are issued?
Can I still get a license if I have a criminal conviction?
How do I apply to take an examination?
As a veteran, can I be reimbursed for the cost of a licensing exam required by the department?
I have a license in another state. Do I still have to take an examination?
How do I apply for a producer/business entity producer license or add lines to my current producer license?
How does an insurance company notify the department of my appointment or termination as an agent?
How do I renew my license?
When will the department terminate my license?
How can I get my license reinstated after I was terminated?
My license got destroyed or lost. How do I print a new one?
My name or address changed. What do I need to do?
How do I meet my continuing education requirements?
How do I pay my fees?
How do I contact the Licensing Section?
Is there a specific statute or regulation that deals with how long an insurance company or agency must retain customer policy and claims' information?
What are the CMS rules for soliciting Medicare Advantage and prescription drug plans?
What are the suitability standards that I should consider when discussing life insurance, long-term care or annuities with my clients?
|
What do I need to do? All changes or corrections to your name, address or SSN must be submitted by the producer in writing. Address changes for producers must be made (in writing) within 30 days on the proper form ( Form 375-0085 ). In lieu of written notification of an address change to MO Department of Commerce & Insurance, an electronic address change may be used. If failure to notify Insurance of your producer address change prevents Insurance from serving you with a complaint, your license may be immediately revoked. How do I meet my continuing education requirements? All resident and non-resident producers are required to meet the continuing education requirements for Missouri. Non-residents are exempt if their state has a mandatory continuing education law. Your continuing education summary is due biennially at your license renewal. Type of license
Minimum CE requirement
Life and/or health
16 hours every two years, which must include 3 hours of ethics
Property/casualty/personal lines
16 hours every two years, which must include 3 hours of ethics
Title
8 hours every two years
*** Licensed producers selling Long-term Care Partnership policies must complete four hours of Partnership CE every two years as part of the above required sixteen hours.***
| 7,214 | 8,487 |
msmarco_v2.1_doc_01_1666393873#17_2442376317
|
http://insurance.mo.gov/industry/faq/license.php
|
Agent/Producer/Agency Licensing FAQs | Missouri Department of Commerce & Insurance
|
Agent/Producer/Agency Licensing FAQs
Agent/Producer/Agency Licensing FAQs
What types of licenses are issued?
Can I still get a license if I have a criminal conviction?
How do I apply to take an examination?
As a veteran, can I be reimbursed for the cost of a licensing exam required by the department?
I have a license in another state. Do I still have to take an examination?
How do I apply for a producer/business entity producer license or add lines to my current producer license?
How does an insurance company notify the department of my appointment or termination as an agent?
How do I renew my license?
When will the department terminate my license?
How can I get my license reinstated after I was terminated?
My license got destroyed or lost. How do I print a new one?
My name or address changed. What do I need to do?
How do I meet my continuing education requirements?
How do I pay my fees?
How do I contact the Licensing Section?
Is there a specific statute or regulation that deals with how long an insurance company or agency must retain customer policy and claims' information?
What are the CMS rules for soliciting Medicare Advantage and prescription drug plans?
What are the suitability standards that I should consider when discussing life insurance, long-term care or annuities with my clients?
|
How do I meet my continuing education requirements? All resident and non-resident producers are required to meet the continuing education requirements for Missouri. Non-residents are exempt if their state has a mandatory continuing education law. Your continuing education summary is due biennially at your license renewal. Type of license
Minimum CE requirement
Life and/or health
16 hours every two years, which must include 3 hours of ethics
Property/casualty/personal lines
16 hours every two years, which must include 3 hours of ethics
Title
8 hours every two years
*** Licensed producers selling Long-term Care Partnership policies must complete four hours of Partnership CE every two years as part of the above required sixteen hours.*** These requirements may be waived if you: Have suffered a serious physical injury or illness. Are on active duty in the Armed Forces for an extended time. Reside outside the U.S.
Are 70 or older. How do I pay my fees?
| 7,741 | 8,704 |
msmarco_v2.1_doc_01_1666393873#18_2442378902
|
http://insurance.mo.gov/industry/faq/license.php
|
Agent/Producer/Agency Licensing FAQs | Missouri Department of Commerce & Insurance
|
Agent/Producer/Agency Licensing FAQs
Agent/Producer/Agency Licensing FAQs
What types of licenses are issued?
Can I still get a license if I have a criminal conviction?
How do I apply to take an examination?
As a veteran, can I be reimbursed for the cost of a licensing exam required by the department?
I have a license in another state. Do I still have to take an examination?
How do I apply for a producer/business entity producer license or add lines to my current producer license?
How does an insurance company notify the department of my appointment or termination as an agent?
How do I renew my license?
When will the department terminate my license?
How can I get my license reinstated after I was terminated?
My license got destroyed or lost. How do I print a new one?
My name or address changed. What do I need to do?
How do I meet my continuing education requirements?
How do I pay my fees?
How do I contact the Licensing Section?
Is there a specific statute or regulation that deals with how long an insurance company or agency must retain customer policy and claims' information?
What are the CMS rules for soliciting Medicare Advantage and prescription drug plans?
What are the suitability standards that I should consider when discussing life insurance, long-term care or annuities with my clients?
|
These requirements may be waived if you: Have suffered a serious physical injury or illness. Are on active duty in the Armed Forces for an extended time. Reside outside the U.S.
Are 70 or older. How do I pay my fees? You may pay your fees with either: Company check. Business entity producer check. Money order. Cashier's check.
| 8,487 | 8,816 |
msmarco_v2.1_doc_01_1666393873#19_2442380845
|
http://insurance.mo.gov/industry/faq/license.php
|
Agent/Producer/Agency Licensing FAQs | Missouri Department of Commerce & Insurance
|
Agent/Producer/Agency Licensing FAQs
Agent/Producer/Agency Licensing FAQs
What types of licenses are issued?
Can I still get a license if I have a criminal conviction?
How do I apply to take an examination?
As a veteran, can I be reimbursed for the cost of a licensing exam required by the department?
I have a license in another state. Do I still have to take an examination?
How do I apply for a producer/business entity producer license or add lines to my current producer license?
How does an insurance company notify the department of my appointment or termination as an agent?
How do I renew my license?
When will the department terminate my license?
How can I get my license reinstated after I was terminated?
My license got destroyed or lost. How do I print a new one?
My name or address changed. What do I need to do?
How do I meet my continuing education requirements?
How do I pay my fees?
How do I contact the Licensing Section?
Is there a specific statute or regulation that deals with how long an insurance company or agency must retain customer policy and claims' information?
What are the CMS rules for soliciting Medicare Advantage and prescription drug plans?
What are the suitability standards that I should consider when discussing life insurance, long-term care or annuities with my clients?
|
You may pay your fees with either: Company check. Business entity producer check. Money order. Cashier's check. Fee may be paid by check or money order, made payable to Department of Commerce & Insurance. How do I contact the Licensing Section? We can be reached at: Missouri Department of Commerce & Insurance
License Section
301 W. High St., Room 530
PO Box 690 (or PO Box 4001 for correspondence with fees)
Jefferson City, MO 65102-0690
573-751-3518
Is there a specific statute or regulation that deals with how long an insurance company or agency must retain customer policy and claims' information? Typical Question:
| 8,704 | 9,326 |
msmarco_v2.1_doc_01_1666393873#20_2442383086
|
http://insurance.mo.gov/industry/faq/license.php
|
Agent/Producer/Agency Licensing FAQs | Missouri Department of Commerce & Insurance
|
Agent/Producer/Agency Licensing FAQs
Agent/Producer/Agency Licensing FAQs
What types of licenses are issued?
Can I still get a license if I have a criminal conviction?
How do I apply to take an examination?
As a veteran, can I be reimbursed for the cost of a licensing exam required by the department?
I have a license in another state. Do I still have to take an examination?
How do I apply for a producer/business entity producer license or add lines to my current producer license?
How does an insurance company notify the department of my appointment or termination as an agent?
How do I renew my license?
When will the department terminate my license?
How can I get my license reinstated after I was terminated?
My license got destroyed or lost. How do I print a new one?
My name or address changed. What do I need to do?
How do I meet my continuing education requirements?
How do I pay my fees?
How do I contact the Licensing Section?
Is there a specific statute or regulation that deals with how long an insurance company or agency must retain customer policy and claims' information?
What are the CMS rules for soliciting Medicare Advantage and prescription drug plans?
What are the suitability standards that I should consider when discussing life insurance, long-term care or annuities with my clients?
|
Fee may be paid by check or money order, made payable to Department of Commerce & Insurance. How do I contact the Licensing Section? We can be reached at: Missouri Department of Commerce & Insurance
License Section
301 W. High St., Room 530
PO Box 690 (or PO Box 4001 for correspondence with fees)
Jefferson City, MO 65102-0690
573-751-3518
Is there a specific statute or regulation that deals with how long an insurance company or agency must retain customer policy and claims' information? Typical Question: We are in the process of going paperless. We have many old files that are for people that are no longer our customers. Our question is how long do we have to keep the old files, and if they are no longer insured through us do we have to keep the signed applications longer than the rest of the files. Or
Is there a specific statute in regards to how long an insurance company or insurance agency must retain customer policy information? Typical Answer:
| 8,816 | 9,779 |
msmarco_v2.1_doc_01_1666393873#21_2442385669
|
http://insurance.mo.gov/industry/faq/license.php
|
Agent/Producer/Agency Licensing FAQs | Missouri Department of Commerce & Insurance
|
Agent/Producer/Agency Licensing FAQs
Agent/Producer/Agency Licensing FAQs
What types of licenses are issued?
Can I still get a license if I have a criminal conviction?
How do I apply to take an examination?
As a veteran, can I be reimbursed for the cost of a licensing exam required by the department?
I have a license in another state. Do I still have to take an examination?
How do I apply for a producer/business entity producer license or add lines to my current producer license?
How does an insurance company notify the department of my appointment or termination as an agent?
How do I renew my license?
When will the department terminate my license?
How can I get my license reinstated after I was terminated?
My license got destroyed or lost. How do I print a new one?
My name or address changed. What do I need to do?
How do I meet my continuing education requirements?
How do I pay my fees?
How do I contact the Licensing Section?
Is there a specific statute or regulation that deals with how long an insurance company or agency must retain customer policy and claims' information?
What are the CMS rules for soliciting Medicare Advantage and prescription drug plans?
What are the suitability standards that I should consider when discussing life insurance, long-term care or annuities with my clients?
|
We are in the process of going paperless. We have many old files that are for people that are no longer our customers. Our question is how long do we have to keep the old files, and if they are no longer insured through us do we have to keep the signed applications longer than the rest of the files. Or
Is there a specific statute in regards to how long an insurance company or insurance agency must retain customer policy information? Typical Answer: The regulation that govern record retention is 20 CSR 100-8.040 (effective July 30, 2008). The subsection dealing with policy records is 20 CSR 100-8.040 (3) (A), which states that a policy record file must be maintained
| 9,326 | 10,000 |
msmarco_v2.1_doc_01_1666407005#0_2442387958
|
http://insurance.mo.gov/laws/bulletin/04-01.php
|
04-01: The New Deductible Surcharge as Applied to Individual Policies | Missouri Department of Commerce & Insurance
|
04-01: New Deductible Surcharge Applied to Individual Policies
04-01: New Deductible Surcharge Applied to Individual Policies
Background
New Legislation
Notifying and Charging Policyholders
Calculations Relative to the NCCI’s Premium Algorithm
Miscellaneous Issues
What is the exact title of the new surcharge?
Does the new surcharge apply to policies with credits for small deductibles?
How should insurers treat the new administrative surcharge for purposes of rate filings?
Is there a special NCCI reporting code for the new administrative surcharge?
Is the new surcharge considered “premium?”
Is the new surcharge subject to commissions?
Is the new surcharge “fully-earned?”
Is the new surcharge subject to pro rata cancellation?
Are insurers required to provide notice to policyholders of this surcharge. If so, is there required text for this notice?
|
04-01: The New Deductible Surcharge as Applied to Individual Policies | Missouri Department of Commerce & Insurance
04-01: New Deductible Surcharge Applied to Individual Policies
RESCINDED AND INOPERATIVE
To: Missouri Property & Casualty Insurers
From: Scott B. Lakin, Director, Missouri Department of Insurance
Re: The New Deductible Surcharge as Applied to Individual Policies
Date: January 6, 2004
This bulletin is intended to provide underwriters and other insurance company employees with information regarding Missouri’s newly enacted administrative surcharge applicable to workers’ compensation policies with deductible options. This bulletin focuses on issues that relate to individual policies, such as the calculation of the surcharge as it applies to individual insureds. A separate bulletin (numbered 03-03), which focuses on how and when insurance companies should remit the surcharge to the state, has also been issued by the Department. Both bulletins can be found on our website at www.insurance.mo.gov, under “Bulletins.”
| 0 | 1,046 |
msmarco_v2.1_doc_01_1666407005#1_2442390239
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http://insurance.mo.gov/laws/bulletin/04-01.php
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04-01: The New Deductible Surcharge as Applied to Individual Policies | Missouri Department of Commerce & Insurance
|
04-01: New Deductible Surcharge Applied to Individual Policies
04-01: New Deductible Surcharge Applied to Individual Policies
Background
New Legislation
Notifying and Charging Policyholders
Calculations Relative to the NCCI’s Premium Algorithm
Miscellaneous Issues
What is the exact title of the new surcharge?
Does the new surcharge apply to policies with credits for small deductibles?
How should insurers treat the new administrative surcharge for purposes of rate filings?
Is there a special NCCI reporting code for the new administrative surcharge?
Is the new surcharge considered “premium?”
Is the new surcharge subject to commissions?
Is the new surcharge “fully-earned?”
Is the new surcharge subject to pro rata cancellation?
Are insurers required to provide notice to policyholders of this surcharge. If so, is there required text for this notice?
|
The New Deductible Surcharge as Applied to Individual Policies
Date: January 6, 2004
This bulletin is intended to provide underwriters and other insurance company employees with information regarding Missouri’s newly enacted administrative surcharge applicable to workers’ compensation policies with deductible options. This bulletin focuses on issues that relate to individual policies, such as the calculation of the surcharge as it applies to individual insureds. A separate bulletin (numbered 03-03), which focuses on how and when insurance companies should remit the surcharge to the state, has also been issued by the Department. Both bulletins can be found on our website at www.insurance.mo.gov, under “Bulletins.” Background
Missouri initially permitted deductible workers’ compensation policies by statute in 1992, as a tool to help employers combat rising premiums. Deductible policies helped policyholders to lower their premiums by essentially letting them “self-insure” the deductible portion of their coverage. However, the General Assembly realized that at the same time policyholder premiums would be reduced by deductible policies, so too would the tax revenue generated by those premiums. In Missouri, a workers’ compensation “administrative tax” is applied to workers’ compensation premiums and is used to fund the operations of the Division of Workers’ Compensation, the state agency which provides the administrative infrastructure for implementing the state’s workers’ compensation law. In addition to the administrative tax, a separate “second injury fund surcharge” is assessed on policyholders and provides revenue for claims made against the state’s Second Injury Fund (SIF).
| 316 | 2,038 |
msmarco_v2.1_doc_01_1666407005#2_2442393259
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http://insurance.mo.gov/laws/bulletin/04-01.php
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04-01: The New Deductible Surcharge as Applied to Individual Policies | Missouri Department of Commerce & Insurance
|
04-01: New Deductible Surcharge Applied to Individual Policies
04-01: New Deductible Surcharge Applied to Individual Policies
Background
New Legislation
Notifying and Charging Policyholders
Calculations Relative to the NCCI’s Premium Algorithm
Miscellaneous Issues
What is the exact title of the new surcharge?
Does the new surcharge apply to policies with credits for small deductibles?
How should insurers treat the new administrative surcharge for purposes of rate filings?
Is there a special NCCI reporting code for the new administrative surcharge?
Is the new surcharge considered “premium?”
Is the new surcharge subject to commissions?
Is the new surcharge “fully-earned?”
Is the new surcharge subject to pro rata cancellation?
Are insurers required to provide notice to policyholders of this surcharge. If so, is there required text for this notice?
|
Background
Missouri initially permitted deductible workers’ compensation policies by statute in 1992, as a tool to help employers combat rising premiums. Deductible policies helped policyholders to lower their premiums by essentially letting them “self-insure” the deductible portion of their coverage. However, the General Assembly realized that at the same time policyholder premiums would be reduced by deductible policies, so too would the tax revenue generated by those premiums. In Missouri, a workers’ compensation “administrative tax” is applied to workers’ compensation premiums and is used to fund the operations of the Division of Workers’ Compensation, the state agency which provides the administrative infrastructure for implementing the state’s workers’ compensation law. In addition to the administrative tax, a separate “second injury fund surcharge” is assessed on policyholders and provides revenue for claims made against the state’s Second Injury Fund (SIF). Rather than receive less funding as a result of the use by employers of deductible policies, the General Assembly provided in its 1992 authorization of deductible policies that the taxes paid on such policies would be based on “…those premiums which would have been paid in the absence of the deductible option.” The Department interpreted this language to be applicable to both the administrative tax and the SIF surcharge in Bulletin 98-03. That bulletin went on to tell insurers that the administrative tax rate for a given year should be built into their premiums as an element of their loss cost multipliers. In addition, insurers were required to document the amount of “premium reduced for deductible policies (287.310.9 RSMo)” on their annual tax statements. The SIF surcharge was to be assessed as a separate item on a policy’s declarations page as a direct pass though to the insured, and collected from the insured on the same payment schedule as premiums were collected.
| 1,046 | 3,034 |
msmarco_v2.1_doc_01_1666407005#3_2442396554
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http://insurance.mo.gov/laws/bulletin/04-01.php
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04-01: The New Deductible Surcharge as Applied to Individual Policies | Missouri Department of Commerce & Insurance
|
04-01: New Deductible Surcharge Applied to Individual Policies
04-01: New Deductible Surcharge Applied to Individual Policies
Background
New Legislation
Notifying and Charging Policyholders
Calculations Relative to the NCCI’s Premium Algorithm
Miscellaneous Issues
What is the exact title of the new surcharge?
Does the new surcharge apply to policies with credits for small deductibles?
How should insurers treat the new administrative surcharge for purposes of rate filings?
Is there a special NCCI reporting code for the new administrative surcharge?
Is the new surcharge considered “premium?”
Is the new surcharge subject to commissions?
Is the new surcharge “fully-earned?”
Is the new surcharge subject to pro rata cancellation?
Are insurers required to provide notice to policyholders of this surcharge. If so, is there required text for this notice?
|
Rather than receive less funding as a result of the use by employers of deductible policies, the General Assembly provided in its 1992 authorization of deductible policies that the taxes paid on such policies would be based on “…those premiums which would have been paid in the absence of the deductible option.” The Department interpreted this language to be applicable to both the administrative tax and the SIF surcharge in Bulletin 98-03. That bulletin went on to tell insurers that the administrative tax rate for a given year should be built into their premiums as an element of their loss cost multipliers. In addition, insurers were required to document the amount of “premium reduced for deductible policies (287.310.9 RSMo)” on their annual tax statements. The SIF surcharge was to be assessed as a separate item on a policy’s declarations page as a direct pass though to the insured, and collected from the insured on the same payment schedule as premiums were collected. New Legislation
During the 2003 legislative session, the Missouri General Assembly passed Senate Bill 385, which modified how workers’ compensation deductible policies will be assessed. The new provisions should not change the net effect of the prior law in dollar terms, but rather, will change the characterization of the assessments. Henceforth, deductible policies will be assessed as follows: 1) an administrative tax (commonly known as the workers’ compensation tax) on deductible policy premiums after the reduction of those premiums by the policy’s deductible credits; 2) a new administrative surcharge on deductible policies, assessed on those premiums that otherwise would have been paid for the deductible credit portion of the policy;
| 2,038 | 3,790 |
msmarco_v2.1_doc_01_1666407005#4_2442399562
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http://insurance.mo.gov/laws/bulletin/04-01.php
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04-01: The New Deductible Surcharge as Applied to Individual Policies | Missouri Department of Commerce & Insurance
|
04-01: New Deductible Surcharge Applied to Individual Policies
04-01: New Deductible Surcharge Applied to Individual Policies
Background
New Legislation
Notifying and Charging Policyholders
Calculations Relative to the NCCI’s Premium Algorithm
Miscellaneous Issues
What is the exact title of the new surcharge?
Does the new surcharge apply to policies with credits for small deductibles?
How should insurers treat the new administrative surcharge for purposes of rate filings?
Is there a special NCCI reporting code for the new administrative surcharge?
Is the new surcharge considered “premium?”
Is the new surcharge subject to commissions?
Is the new surcharge “fully-earned?”
Is the new surcharge subject to pro rata cancellation?
Are insurers required to provide notice to policyholders of this surcharge. If so, is there required text for this notice?
|
New Legislation
During the 2003 legislative session, the Missouri General Assembly passed Senate Bill 385, which modified how workers’ compensation deductible policies will be assessed. The new provisions should not change the net effect of the prior law in dollar terms, but rather, will change the characterization of the assessments. Henceforth, deductible policies will be assessed as follows: 1) an administrative tax (commonly known as the workers’ compensation tax) on deductible policy premiums after the reduction of those premiums by the policy’s deductible credits; 2) a new administrative surcharge on deductible policies, assessed on those premiums that otherwise would have been paid for the deductible credit portion of the policy; and, 3) a second injury fund surcharge based on the total premiums which would have been paid in the absence of the deductible option. ( Section 287.310, RSMo, subsection 9, as amended by SB 385.) For example, assume the total premium for a policy, before the deductible credit, is $285,000, and that the premium after the deductible credit is applied is $185,000, with the deductible credit therefore being $100,000. Assume also that the “rate” for both the workers’ compensation administrative tax and the new administrative surcharge on deductible policies is 1%, and the “rate” for the SIF surcharge is 4%. ( These are the rates that will be effective in Missouri for calendar year 2004.)
| 3,034 | 4,490 |
msmarco_v2.1_doc_01_1666407005#5_2442402270
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http://insurance.mo.gov/laws/bulletin/04-01.php
|
04-01: The New Deductible Surcharge as Applied to Individual Policies | Missouri Department of Commerce & Insurance
|
04-01: New Deductible Surcharge Applied to Individual Policies
04-01: New Deductible Surcharge Applied to Individual Policies
Background
New Legislation
Notifying and Charging Policyholders
Calculations Relative to the NCCI’s Premium Algorithm
Miscellaneous Issues
What is the exact title of the new surcharge?
Does the new surcharge apply to policies with credits for small deductibles?
How should insurers treat the new administrative surcharge for purposes of rate filings?
Is there a special NCCI reporting code for the new administrative surcharge?
Is the new surcharge considered “premium?”
Is the new surcharge subject to commissions?
Is the new surcharge “fully-earned?”
Is the new surcharge subject to pro rata cancellation?
Are insurers required to provide notice to policyholders of this surcharge. If so, is there required text for this notice?
|
and, 3) a second injury fund surcharge based on the total premiums which would have been paid in the absence of the deductible option. ( Section 287.310, RSMo, subsection 9, as amended by SB 385.) For example, assume the total premium for a policy, before the deductible credit, is $285,000, and that the premium after the deductible credit is applied is $185,000, with the deductible credit therefore being $100,000. Assume also that the “rate” for both the workers’ compensation administrative tax and the new administrative surcharge on deductible policies is 1%, and the “rate” for the SIF surcharge is 4%. ( These are the rates that will be effective in Missouri for calendar year 2004.) Under the prior law and under SB 385, the administrative tax, administrative surcharge and SIF Surcharge would be calculated as follows: Prior Law
New Law (SB 385)
Administrative Tax: $285,000 x .01 = $2,850
$185,000 x .01 = $1,850
Administrative Surcharge: $100,000 x .01 = $1,000
SIF Surcharge: $285,000 x .04 = $11,400
$285,000 x .04 = $11,400
Total:
| 3,791 | 4,848 |
msmarco_v2.1_doc_01_1666407005#6_2442404570
|
http://insurance.mo.gov/laws/bulletin/04-01.php
|
04-01: The New Deductible Surcharge as Applied to Individual Policies | Missouri Department of Commerce & Insurance
|
04-01: New Deductible Surcharge Applied to Individual Policies
04-01: New Deductible Surcharge Applied to Individual Policies
Background
New Legislation
Notifying and Charging Policyholders
Calculations Relative to the NCCI’s Premium Algorithm
Miscellaneous Issues
What is the exact title of the new surcharge?
Does the new surcharge apply to policies with credits for small deductibles?
How should insurers treat the new administrative surcharge for purposes of rate filings?
Is there a special NCCI reporting code for the new administrative surcharge?
Is the new surcharge considered “premium?”
Is the new surcharge subject to commissions?
Is the new surcharge “fully-earned?”
Is the new surcharge subject to pro rata cancellation?
Are insurers required to provide notice to policyholders of this surcharge. If so, is there required text for this notice?
|
Under the prior law and under SB 385, the administrative tax, administrative surcharge and SIF Surcharge would be calculated as follows: Prior Law
New Law (SB 385)
Administrative Tax: $285,000 x .01 = $2,850
$185,000 x .01 = $1,850
Administrative Surcharge: $100,000 x .01 = $1,000
SIF Surcharge: $285,000 x .04 = $11,400
$285,000 x .04 = $11,400
Total: $14,250
$14,250
Thus, in dollar terms, the amount collected before SB 385 via the single administrative tax and SIF surcharge, and the amount collected after SB 385’s revisions via the administrative tax, the new administrative surcharge and the SIF surcharge, will be identical (all other things being equal). Notifying and Charging Policyholders
As was the case in the past, insurers will pay the “old” administrative tax (workers’ compensation tax) through quarterly assessments and on their annual tax reports; the policyholder will not see the tax broken out as a separate line item on the declarations page. Rather, the tax will be built into the base class code rate charged by the insurer. Insurers are to include this tax in the rate as part of the “loss cost multiplier” reported to the Department in insurer rate filings under regulation 20 CSR 500-6.950.
| 4,491 | 5,724 |
msmarco_v2.1_doc_01_1666407005#7_2442407053
|
http://insurance.mo.gov/laws/bulletin/04-01.php
|
04-01: The New Deductible Surcharge as Applied to Individual Policies | Missouri Department of Commerce & Insurance
|
04-01: New Deductible Surcharge Applied to Individual Policies
04-01: New Deductible Surcharge Applied to Individual Policies
Background
New Legislation
Notifying and Charging Policyholders
Calculations Relative to the NCCI’s Premium Algorithm
Miscellaneous Issues
What is the exact title of the new surcharge?
Does the new surcharge apply to policies with credits for small deductibles?
How should insurers treat the new administrative surcharge for purposes of rate filings?
Is there a special NCCI reporting code for the new administrative surcharge?
Is the new surcharge considered “premium?”
Is the new surcharge subject to commissions?
Is the new surcharge “fully-earned?”
Is the new surcharge subject to pro rata cancellation?
Are insurers required to provide notice to policyholders of this surcharge. If so, is there required text for this notice?
|
$14,250
$14,250
Thus, in dollar terms, the amount collected before SB 385 via the single administrative tax and SIF surcharge, and the amount collected after SB 385’s revisions via the administrative tax, the new administrative surcharge and the SIF surcharge, will be identical (all other things being equal). Notifying and Charging Policyholders
As was the case in the past, insurers will pay the “old” administrative tax (workers’ compensation tax) through quarterly assessments and on their annual tax reports; the policyholder will not see the tax broken out as a separate line item on the declarations page. Rather, the tax will be built into the base class code rate charged by the insurer. Insurers are to include this tax in the rate as part of the “loss cost multiplier” reported to the Department in insurer rate filings under regulation 20 CSR 500-6.950. The new administrative surcharge (on deductible policies) and SIF surcharge (on all workers’ compensation polices) are to be passed onto the employer and collected at the same time the premium is collected. In the past, policyholders have been notified of the SIF surcharge though a separate line item on the declarations page. The same procedure should be followed for the new administrative surcharge, but only for policies with a deductible option. Non-deductible policies should never be assessed for a separate administrative surcharge, only the administrative tax and the SIF surcharge. The new administrative surcharge should be collected from policyholders in the same manner as the SIF surcharge, meaning, for example, that if the policyholder is paying in installments, the two surcharges should be collected as pro rata portions of each installment.
| 4,848 | 6,596 |
msmarco_v2.1_doc_01_1666407005#8_2442410050
|
http://insurance.mo.gov/laws/bulletin/04-01.php
|
04-01: The New Deductible Surcharge as Applied to Individual Policies | Missouri Department of Commerce & Insurance
|
04-01: New Deductible Surcharge Applied to Individual Policies
04-01: New Deductible Surcharge Applied to Individual Policies
Background
New Legislation
Notifying and Charging Policyholders
Calculations Relative to the NCCI’s Premium Algorithm
Miscellaneous Issues
What is the exact title of the new surcharge?
Does the new surcharge apply to policies with credits for small deductibles?
How should insurers treat the new administrative surcharge for purposes of rate filings?
Is there a special NCCI reporting code for the new administrative surcharge?
Is the new surcharge considered “premium?”
Is the new surcharge subject to commissions?
Is the new surcharge “fully-earned?”
Is the new surcharge subject to pro rata cancellation?
Are insurers required to provide notice to policyholders of this surcharge. If so, is there required text for this notice?
|
The new administrative surcharge (on deductible policies) and SIF surcharge (on all workers’ compensation polices) are to be passed onto the employer and collected at the same time the premium is collected. In the past, policyholders have been notified of the SIF surcharge though a separate line item on the declarations page. The same procedure should be followed for the new administrative surcharge, but only for policies with a deductible option. Non-deductible policies should never be assessed for a separate administrative surcharge, only the administrative tax and the SIF surcharge. The new administrative surcharge should be collected from policyholders in the same manner as the SIF surcharge, meaning, for example, that if the policyholder is paying in installments, the two surcharges should be collected as pro rata portions of each installment. (Note: While the deductible credit portion of the policy was subject to the administrative tax under the old law, this is no longer the case. Under the new law, the deductible credit portion of the policy will now be subject only to the new administrative surcharge, not both the administrative tax and the administrative surcharge.) The changes contained in SB 385 apply to all workers compensation policies with a deductible option that are written or renewed on or after January 1, 2004. The “rates” for both the administrative tax and the new administrative surcharge on deductible policies will be set annually by the Division of Workers’ Compensation in accordance with Section 287.690 and 287.716, respectively.
| 5,724 | 7,324 |
msmarco_v2.1_doc_01_1666407005#9_2442412880
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http://insurance.mo.gov/laws/bulletin/04-01.php
|
04-01: The New Deductible Surcharge as Applied to Individual Policies | Missouri Department of Commerce & Insurance
|
04-01: New Deductible Surcharge Applied to Individual Policies
04-01: New Deductible Surcharge Applied to Individual Policies
Background
New Legislation
Notifying and Charging Policyholders
Calculations Relative to the NCCI’s Premium Algorithm
Miscellaneous Issues
What is the exact title of the new surcharge?
Does the new surcharge apply to policies with credits for small deductibles?
How should insurers treat the new administrative surcharge for purposes of rate filings?
Is there a special NCCI reporting code for the new administrative surcharge?
Is the new surcharge considered “premium?”
Is the new surcharge subject to commissions?
Is the new surcharge “fully-earned?”
Is the new surcharge subject to pro rata cancellation?
Are insurers required to provide notice to policyholders of this surcharge. If so, is there required text for this notice?
|
(Note: While the deductible credit portion of the policy was subject to the administrative tax under the old law, this is no longer the case. Under the new law, the deductible credit portion of the policy will now be subject only to the new administrative surcharge, not both the administrative tax and the administrative surcharge.) The changes contained in SB 385 apply to all workers compensation policies with a deductible option that are written or renewed on or after January 1, 2004. The “rates” for both the administrative tax and the new administrative surcharge on deductible policies will be set annually by the Division of Workers’ Compensation in accordance with Section 287.690 and 287.716, respectively. Under Section 287.716, the rate for the administrative surcharge on deductible policies will always be the same as the rate for the administrative tax selected by the Division under Section 287.690. Based on an October 7, 2003 Memorandum issued jointly by the Missouri Department of Labor and Industrial Relations and the Missouri Department of Insurance, the rate for both the administrative tax and the new deductible surcharge for 2004 will be “1%.” The rate for the SIF surcharge for 2004 will be at “4%.” See www.dolir.mo.gov/wc/ for this memorandum. Calculations Relative to the NCCI’s Premium Algorithm
Given the many different factors used to “rate” workers’ compensation policies in Missouri, it seems necessary to discuss the new provisions of SB 385 in light of the Missouri Workers’ Compensation Premium Algorithm developed and published by the National Council on Compensation Insurance, Inc., (NCCI).
| 6,596 | 8,250 |
msmarco_v2.1_doc_01_1666407005#10_2442415805
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http://insurance.mo.gov/laws/bulletin/04-01.php
|
04-01: The New Deductible Surcharge as Applied to Individual Policies | Missouri Department of Commerce & Insurance
|
04-01: New Deductible Surcharge Applied to Individual Policies
04-01: New Deductible Surcharge Applied to Individual Policies
Background
New Legislation
Notifying and Charging Policyholders
Calculations Relative to the NCCI’s Premium Algorithm
Miscellaneous Issues
What is the exact title of the new surcharge?
Does the new surcharge apply to policies with credits for small deductibles?
How should insurers treat the new administrative surcharge for purposes of rate filings?
Is there a special NCCI reporting code for the new administrative surcharge?
Is the new surcharge considered “premium?”
Is the new surcharge subject to commissions?
Is the new surcharge “fully-earned?”
Is the new surcharge subject to pro rata cancellation?
Are insurers required to provide notice to policyholders of this surcharge. If so, is there required text for this notice?
|
Under Section 287.716, the rate for the administrative surcharge on deductible policies will always be the same as the rate for the administrative tax selected by the Division under Section 287.690. Based on an October 7, 2003 Memorandum issued jointly by the Missouri Department of Labor and Industrial Relations and the Missouri Department of Insurance, the rate for both the administrative tax and the new deductible surcharge for 2004 will be “1%.” The rate for the SIF surcharge for 2004 will be at “4%.” See www.dolir.mo.gov/wc/ for this memorandum. Calculations Relative to the NCCI’s Premium Algorithm
Given the many different factors used to “rate” workers’ compensation policies in Missouri, it seems necessary to discuss the new provisions of SB 385 in light of the Missouri Workers’ Compensation Premium Algorithm developed and published by the National Council on Compensation Insurance, Inc., (NCCI). The Premium Algorithm, which is included in the NCCI’s Basic Manual, is the standard methodology for calculating a policy’s premium. Readers are invited to refer to a copy of the Algorithm as they work through this section of the bulletin; the current version of the Algorithm is included at page 18 of the Missouri pages of the Basic Manual , and is dated “22 Jan 2003 (1)”. The terminology used by the NCCI in the Algorithm differs from that used by the Missouri General Assembly in SB 385. The key provision of SB 385 is the new subsection 9 of Section 287.310, RSMo, the first three sentences of which now read (separately) as follows:
| 7,325 | 8,898 |
msmarco_v2.1_doc_01_1666407005#11_2442418657
|
http://insurance.mo.gov/laws/bulletin/04-01.php
|
04-01: The New Deductible Surcharge as Applied to Individual Policies | Missouri Department of Commerce & Insurance
|
04-01: New Deductible Surcharge Applied to Individual Policies
04-01: New Deductible Surcharge Applied to Individual Policies
Background
New Legislation
Notifying and Charging Policyholders
Calculations Relative to the NCCI’s Premium Algorithm
Miscellaneous Issues
What is the exact title of the new surcharge?
Does the new surcharge apply to policies with credits for small deductibles?
How should insurers treat the new administrative surcharge for purposes of rate filings?
Is there a special NCCI reporting code for the new administrative surcharge?
Is the new surcharge considered “premium?”
Is the new surcharge subject to commissions?
Is the new surcharge “fully-earned?”
Is the new surcharge subject to pro rata cancellation?
Are insurers required to provide notice to policyholders of this surcharge. If so, is there required text for this notice?
|
The Premium Algorithm, which is included in the NCCI’s Basic Manual, is the standard methodology for calculating a policy’s premium. Readers are invited to refer to a copy of the Algorithm as they work through this section of the bulletin; the current version of the Algorithm is included at page 18 of the Missouri pages of the Basic Manual , and is dated “22 Jan 2003 (1)”. The terminology used by the NCCI in the Algorithm differs from that used by the Missouri General Assembly in SB 385. The key provision of SB 385 is the new subsection 9 of Section 287.310, RSMo, the first three sentences of which now read (separately) as follows: In calculating the administrative surcharge owed pursuant to the provisions of this chapter for workers’ compensation policies with deductible options, the administrative surcharge owed will be based upon the total premiums, which would have been paid for the deductible credit portion of the policy. The second injury fund surcharge owed by the employer who purchases a deductible policy will be assessed upon the total premiums which would have been paid in the absence of the deductible option. The premium taxes owed pursuant to this chapter for workers’ compensation policies with deductible options shall be assessed upon those total premiums paid upon the insurance policy excluding the deductible credit portion of the policy. The first sentence concerns the new administrative surcharge. It is to be assessed upon the total premiums which would have been paid for the deductible credit portion of the policy.
| 8,251 | 9,827 |
msmarco_v2.1_doc_01_1666407005#12_2442421476
|
http://insurance.mo.gov/laws/bulletin/04-01.php
|
04-01: The New Deductible Surcharge as Applied to Individual Policies | Missouri Department of Commerce & Insurance
|
04-01: New Deductible Surcharge Applied to Individual Policies
04-01: New Deductible Surcharge Applied to Individual Policies
Background
New Legislation
Notifying and Charging Policyholders
Calculations Relative to the NCCI’s Premium Algorithm
Miscellaneous Issues
What is the exact title of the new surcharge?
Does the new surcharge apply to policies with credits for small deductibles?
How should insurers treat the new administrative surcharge for purposes of rate filings?
Is there a special NCCI reporting code for the new administrative surcharge?
Is the new surcharge considered “premium?”
Is the new surcharge subject to commissions?
Is the new surcharge “fully-earned?”
Is the new surcharge subject to pro rata cancellation?
Are insurers required to provide notice to policyholders of this surcharge. If so, is there required text for this notice?
|
In calculating the administrative surcharge owed pursuant to the provisions of this chapter for workers’ compensation policies with deductible options, the administrative surcharge owed will be based upon the total premiums, which would have been paid for the deductible credit portion of the policy. The second injury fund surcharge owed by the employer who purchases a deductible policy will be assessed upon the total premiums which would have been paid in the absence of the deductible option. The premium taxes owed pursuant to this chapter for workers’ compensation policies with deductible options shall be assessed upon those total premiums paid upon the insurance policy excluding the deductible credit portion of the policy. The first sentence concerns the new administrative surcharge. It is to be assessed upon the total premiums which would have been paid for the deductible credit portion of the policy. In the Premium Algorithm, the last step before one reaches “Total Subject Premium” is the subtraction of any small deductible credit. The NCCI references only “small” ded
| 8,898 | 10,000 |
msmarco_v2.1_doc_01_1666424177#0_2442423821
|
http://insurance.mo.gov/laws/bulletin/93-07.php
|
93-07: Deductible Plans for Workers' Compensation Policies | Missouri Department of Commerce & Insurance
|
93-07: Deductible Plans for Workers' Compensation Policies
93-07: Deductible Plans for Workers' Compensation Policies
RESCINDED AND INOPERATIVE
|
93-07: Deductible Plans for Workers' Compensation Policies | Missouri Department of Commerce & Insurance
93-07: Deductible Plans for Workers' Compensation Policies
RESCINDED AND INOPERATIVE
To: All Workers Compensation Insurers
From: Jay Angoff, Director
Re: Deductible Plans for Workers' Compensation Policies
Date: June 15, 1993
Following the circulation of the Department's February 9, 1993 BULLETIN 93-3 on workers' compensation deductible plans, the Department received requests to amend its approval criteria for large deductible plans in the following areas: Allow insurers to use the definition of "allocated loss adjustment expense" (ALAE) currently used by the National Council on Compensation Insurance (NCCI) as specified in the NCCI's "Countrywide Item Filing: Item # U-1292, Allocated Loss Adjustment Expenses," rather than Missouri statute 375.1152, RSMo Supp. 1992.
| 0 | 887 |
msmarco_v2.1_doc_01_1666424177#1_2442425163
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http://insurance.mo.gov/laws/bulletin/93-07.php
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93-07: Deductible Plans for Workers' Compensation Policies | Missouri Department of Commerce & Insurance
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93-07: Deductible Plans for Workers' Compensation Policies
93-07: Deductible Plans for Workers' Compensation Policies
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Deductible Plans for Workers' Compensation Policies
Date: June 15, 1993
Following the circulation of the Department's February 9, 1993 BULLETIN 93-3 on workers' compensation deductible plans, the Department received requests to amend its approval criteria for large deductible plans in the following areas: Allow insurers to use the definition of "allocated loss adjustment expense" (ALAE) currently used by the National Council on Compensation Insurance (NCCI) as specified in the NCCI's "Countrywide Item Filing: Item # U-1292, Allocated Loss Adjustment Expenses," rather than Missouri statute 375.1152, RSMo Supp. 1992. Allow "unallocated loss adjustment expenses" (UALAE) to be charged as a "handling fee" in the same manner as a retro premium "loss conversion factor". Such a system is allowed in other states and would facilitate the ability of insurance companies to write plans or multistate risks. Liberalize the definition of what constitutes a "large deductible" to allow the term to be applied to risks with a minimum countrywide premium of $100,000 and a minimum deductible of $25,000. Subject to a change in Section 287.310.9, RSMo Supp. 1992, allow the calculation of premium taxes on premiums after the deductible credit is applied.
| 259 | 1,519 |
msmarco_v2.1_doc_01_1666424177#2_2442426884
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http://insurance.mo.gov/laws/bulletin/93-07.php
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93-07: Deductible Plans for Workers' Compensation Policies | Missouri Department of Commerce & Insurance
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93-07: Deductible Plans for Workers' Compensation Policies
93-07: Deductible Plans for Workers' Compensation Policies
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Allow "unallocated loss adjustment expenses" (UALAE) to be charged as a "handling fee" in the same manner as a retro premium "loss conversion factor". Such a system is allowed in other states and would facilitate the ability of insurance companies to write plans or multistate risks. Liberalize the definition of what constitutes a "large deductible" to allow the term to be applied to risks with a minimum countrywide premium of $100,000 and a minimum deductible of $25,000. Subject to a change in Section 287.310.9, RSMo Supp. 1992, allow the calculation of premium taxes on premiums after the deductible credit is applied. In addition to these recommendations, the Department recognizes that, in adopting Senate Bill 251, the General Assembly has authorized a fundamental change in manner in which workers' compensation rates will be regulated in Missouri. As signed by the Governor on June 21, this bill will move Missouri to a "competitive rating" environment for the voluntary market beginning January 1, 1994. In such an environment, insurers will have greater flexibility in pricing their policies. Given this major modification to the state's underlying rate-setting mechanism, and in consideration of the above recommendations, the Department has concluded that it can modify its previous deductible policy approval criteria. The Department is generally in support of the recommendations listed above, with certain conditions outlined below.
| 887 | 2,345 |
msmarco_v2.1_doc_01_1666424177#3_2442428798
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http://insurance.mo.gov/laws/bulletin/93-07.php
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93-07: Deductible Plans for Workers' Compensation Policies | Missouri Department of Commerce & Insurance
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93-07: Deductible Plans for Workers' Compensation Policies
93-07: Deductible Plans for Workers' Compensation Policies
RESCINDED AND INOPERATIVE
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In addition to these recommendations, the Department recognizes that, in adopting Senate Bill 251, the General Assembly has authorized a fundamental change in manner in which workers' compensation rates will be regulated in Missouri. As signed by the Governor on June 21, this bill will move Missouri to a "competitive rating" environment for the voluntary market beginning January 1, 1994. In such an environment, insurers will have greater flexibility in pricing their policies. Given this major modification to the state's underlying rate-setting mechanism, and in consideration of the above recommendations, the Department has concluded that it can modify its previous deductible policy approval criteria. The Department is generally in support of the recommendations listed above, with certain conditions outlined below. However, the Department takes no position on item "4)," which will necessitate that the General Assembly change the statute in question. Henceforth, "large" deductible plans shall be deemed to be those with premiums of $100,000 or more, and will be governed by the standards set forth below. " Small" deductible plans will be deemed to be those applicable to any countrywide premium levels below $100,000 in premium; insurers seeking the approval of small deductible plans should set forth in two columns the size of the deductible amount to be offered and the size of the premium reduction to be provided. The NCCI has established reporting code numbers for deductibles of the following amounts:
| 1,519 | 3,041 |
msmarco_v2.1_doc_01_1666424177#4_2442430776
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http://insurance.mo.gov/laws/bulletin/93-07.php
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93-07: Deductible Plans for Workers' Compensation Policies | Missouri Department of Commerce & Insurance
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93-07: Deductible Plans for Workers' Compensation Policies
93-07: Deductible Plans for Workers' Compensation Policies
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However, the Department takes no position on item "4)," which will necessitate that the General Assembly change the statute in question. Henceforth, "large" deductible plans shall be deemed to be those with premiums of $100,000 or more, and will be governed by the standards set forth below. " Small" deductible plans will be deemed to be those applicable to any countrywide premium levels below $100,000 in premium; insurers seeking the approval of small deductible plans should set forth in two columns the size of the deductible amount to be offered and the size of the premium reduction to be provided. The NCCI has established reporting code numbers for deductibles of the following amounts: $100, $200, $300, $400, $500, $1,000, $1,500, $2,000, $2,500, $5,000, $10,000, $15,000, and $20,000. Insurers are expected to determine their own percentage of premium reductions for these categories, and provide actuarial justification for these reductions with their filing. Data reporting requirements for both "large" and "small" deductible plans shall also conform to approved and published NCCI standards. In addition, insurers should adhere to the following guidelines for deductible plans. These criteria differ in many respects from those set forth in the Department's previous Bulletins, numbered 92-11 and 93-03.
| 2,346 | 3,665 |
msmarco_v2.1_doc_01_1666424177#5_2442432554
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http://insurance.mo.gov/laws/bulletin/93-07.php
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93-07: Deductible Plans for Workers' Compensation Policies | Missouri Department of Commerce & Insurance
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93-07: Deductible Plans for Workers' Compensation Policies
93-07: Deductible Plans for Workers' Compensation Policies
RESCINDED AND INOPERATIVE
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$100, $200, $300, $400, $500, $1,000, $1,500, $2,000, $2,500, $5,000, $10,000, $15,000, and $20,000. Insurers are expected to determine their own percentage of premium reductions for these categories, and provide actuarial justification for these reductions with their filing. Data reporting requirements for both "large" and "small" deductible plans shall also conform to approved and published NCCI standards. In addition, insurers should adhere to the following guidelines for deductible plans. These criteria differ in many respects from those set forth in the Department's previous Bulletins, numbered 92-11 and 93-03. The decision to offer a deductible plan or a workers' compensation policy is at the option of the insurance company. The amended Section 287.310, RSMo Supp. 1992, provides that a workers' compensation insurer may offer a deductible option. Insurance companies are clearly not required to offer such programs. The Department shall consider a "large" deductible plan to be one where the standard premium exceeds $100,000, either in interstate or intrastate premium.
| 3,042 | 4,133 |
msmarco_v2.1_doc_01_1666424177#6_2442434099
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http://insurance.mo.gov/laws/bulletin/93-07.php
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93-07: Deductible Plans for Workers' Compensation Policies | Missouri Department of Commerce & Insurance
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93-07: Deductible Plans for Workers' Compensation Policies
93-07: Deductible Plans for Workers' Compensation Policies
RESCINDED AND INOPERATIVE
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The decision to offer a deductible plan or a workers' compensation policy is at the option of the insurance company. The amended Section 287.310, RSMo Supp. 1992, provides that a workers' compensation insurer may offer a deductible option. Insurance companies are clearly not required to offer such programs. The Department shall consider a "large" deductible plan to be one where the standard premium exceeds $100,000, either in interstate or intrastate premium. "Standard premium" shall be considered payroll multiplied by the rate multiplied by the experience modification factor (payroll x rate x experience modification). In addition, the deductible amount shall not be less than $25,000 and shall not exceed 40% of the standard premium for the risk. The Department has decided to allow but not require allocated loss adjustment expenses (ALAE) -- as that term is defined in either Section 375.1152, RSMo Supp. 1992, or as defined by the NCCI as specified in the NCCI's "Countrywide Item Filing: Item # U-1292, Allocated Loss Adjustment Expenses" -- to be included as part of the deductible of a "large" deductible plan.
| 3,665 | 4,803 |
msmarco_v2.1_doc_01_1666424177#7_2442435691
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http://insurance.mo.gov/laws/bulletin/93-07.php
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93-07: Deductible Plans for Workers' Compensation Policies | Missouri Department of Commerce & Insurance
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93-07: Deductible Plans for Workers' Compensation Policies
93-07: Deductible Plans for Workers' Compensation Policies
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"Standard premium" shall be considered payroll multiplied by the rate multiplied by the experience modification factor (payroll x rate x experience modification). In addition, the deductible amount shall not be less than $25,000 and shall not exceed 40% of the standard premium for the risk. The Department has decided to allow but not require allocated loss adjustment expenses (ALAE) -- as that term is defined in either Section 375.1152, RSMo Supp. 1992, or as defined by the NCCI as specified in the NCCI's "Countrywide Item Filing: Item # U-1292, Allocated Loss Adjustment Expenses" -- to be included as part of the deductible of a "large" deductible plan. The definition chosen must be set forth in writing in the policy or endorsement. The Department will also allow a separate fee for ALAE to be charged to the insured outside of the deductible, and will we allow a separate fee to be charged to the insured for any adjustment of claims. The same standards shall apply for unallocated loss adjustment expenses (UALAE). As is the case in other states where deductible plans are authorized, the insurance company retains the ultimate responsibility for the payment of compensable claims. The Department will allow both "gross" plans and "net" plans.
| 4,134 | 5,402 |
msmarco_v2.1_doc_01_1666424177#8_2442437416
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http://insurance.mo.gov/laws/bulletin/93-07.php
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93-07: Deductible Plans for Workers' Compensation Policies | Missouri Department of Commerce & Insurance
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93-07: Deductible Plans for Workers' Compensation Policies
93-07: Deductible Plans for Workers' Compensation Policies
RESCINDED AND INOPERATIVE
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The definition chosen must be set forth in writing in the policy or endorsement. The Department will also allow a separate fee for ALAE to be charged to the insured outside of the deductible, and will we allow a separate fee to be charged to the insured for any adjustment of claims. The same standards shall apply for unallocated loss adjustment expenses (UALAE). As is the case in other states where deductible plans are authorized, the insurance company retains the ultimate responsibility for the payment of compensable claims. The Department will allow both "gross" plans and "net" plans. "Gross" plans consider all losses incurred by the employer in the calculation of the employer's experience modification factor, even those losses ultimately paid by the employer because they fall within the amount of the policy's deductible. " Net" plans consider only those losses which the insurance company alone must ultimately pay in the calculation of the experience modification factor. The insurer will need to indicate which type of plan is being used for a particular risk in its reports to the NCCI. The deductible shall apply, in the case of accidents, to all bodily injury by accident, and, in the case of disease, to each employee for bodily injury due to disease. An annual aggregate limit on the amount to be reimbursed by the employer due to claims arising in any one policy period may be offered by the insurer.
| 4,804 | 6,239 |
msmarco_v2.1_doc_01_1666424177#9_2442439307
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http://insurance.mo.gov/laws/bulletin/93-07.php
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93-07: Deductible Plans for Workers' Compensation Policies | Missouri Department of Commerce & Insurance
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93-07: Deductible Plans for Workers' Compensation Policies
93-07: Deductible Plans for Workers' Compensation Policies
RESCINDED AND INOPERATIVE
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"Gross" plans consider all losses incurred by the employer in the calculation of the employer's experience modification factor, even those losses ultimately paid by the employer because they fall within the amount of the policy's deductible. " Net" plans consider only those losses which the insurance company alone must ultimately pay in the calculation of the experience modification factor. The insurer will need to indicate which type of plan is being used for a particular risk in its reports to the NCCI. The deductible shall apply, in the case of accidents, to all bodily injury by accident, and, in the case of disease, to each employee for bodily injury due to disease. An annual aggregate limit on the amount to be reimbursed by the employer due to claims arising in any one policy period may be offered by the insurer. Payments by the employer under the deductible should be to the insurer or its agent. The amount and type of financial security arrangements to assure the employer's payment of his deductible amounts will be left to the judgment of the insurer and negotiations between the insurer and the employer. For purpose of financial statements, however, in order for an insurer to treat as an asset (or reduction to liabilities) receivables owed to it by employers on claims which fall within given deductible amounts, the insurer should require collateral of the same type and quality required by Missouri statute and the NAIC in connection with credit for unauthorized reinsurance. Such collateral shall secure current and ultimate projected claim payments. Policy provisions or endorsement provisions regarding deductible plans should be consistent with the language used in Section 287.310, RSMo Supp.
| 5,403 | 7,143 |
msmarco_v2.1_doc_01_1666424177#10_2442441499
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http://insurance.mo.gov/laws/bulletin/93-07.php
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93-07: Deductible Plans for Workers' Compensation Policies | Missouri Department of Commerce & Insurance
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93-07: Deductible Plans for Workers' Compensation Policies
93-07: Deductible Plans for Workers' Compensation Policies
RESCINDED AND INOPERATIVE
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Payments by the employer under the deductible should be to the insurer or its agent. The amount and type of financial security arrangements to assure the employer's payment of his deductible amounts will be left to the judgment of the insurer and negotiations between the insurer and the employer. For purpose of financial statements, however, in order for an insurer to treat as an asset (or reduction to liabilities) receivables owed to it by employers on claims which fall within given deductible amounts, the insurer should require collateral of the same type and quality required by Missouri statute and the NAIC in connection with credit for unauthorized reinsurance. Such collateral shall secure current and ultimate projected claim payments. Policy provisions or endorsement provisions regarding deductible plans should be consistent with the language used in Section 287.310, RSMo Supp. 1992. Any unique cancellation provisions relating to the deductible plan should be clearly set forth in the deductible provisions. Insurers shall not be allowed to cancel the deductible portion of the plan ex parte. Please be sure to follow the Missouri cancellation provisions as required by Missouri standard mandatory endorsement WC240601A, to the degree necessary. In addition, no insurer shall issue a workers' compensation insurance policy with a deductible option unless the policy, or an endorsement thereto, displays the following notice, or, upon the approval of the director, its substantial equivalent.
| 6,239 | 7,764 |
msmarco_v2.1_doc_01_1666424177#11_2442443472
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http://insurance.mo.gov/laws/bulletin/93-07.php
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93-07: Deductible Plans for Workers' Compensation Policies | Missouri Department of Commerce & Insurance
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93-07: Deductible Plans for Workers' Compensation Policies
93-07: Deductible Plans for Workers' Compensation Policies
RESCINDED AND INOPERATIVE
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1992. Any unique cancellation provisions relating to the deductible plan should be clearly set forth in the deductible provisions. Insurers shall not be allowed to cancel the deductible portion of the plan ex parte. Please be sure to follow the Missouri cancellation provisions as required by Missouri standard mandatory endorsement WC240601A, to the degree necessary. In addition, no insurer shall issue a workers' compensation insurance policy with a deductible option unless the policy, or an endorsement thereto, displays the following notice, or, upon the approval of the director, its substantial equivalent. The notice shall be in bold type in a type size at least equal to that used in the rest of the policy. "NOTICE: THIS WORKERS' COMPENSATION POLICY CONTAINS A DEDUCTIBLE OPTION, UNDER WHICH YOU, THE EMPLOYER, ARE REQUIRED TO REIMBURSE CERTAIN LOSSES. PLEASE READ THIS POLICY CAREFULLY AND UNDERSTAND ITS CONDITIONS THOROUGHLY PRIOR TO PURCHASING COVERAGE." Any provisions designed to settle the long-term payment obligations of an employer for a loss under the deductible plan should recognize the time value of money.
| 7,144 | 8,286 |
msmarco_v2.1_doc_01_1666424177#12_2442445065
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http://insurance.mo.gov/laws/bulletin/93-07.php
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93-07: Deductible Plans for Workers' Compensation Policies | Missouri Department of Commerce & Insurance
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93-07: Deductible Plans for Workers' Compensation Policies
93-07: Deductible Plans for Workers' Compensation Policies
RESCINDED AND INOPERATIVE
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The notice shall be in bold type in a type size at least equal to that used in the rest of the policy. "NOTICE: THIS WORKERS' COMPENSATION POLICY CONTAINS A DEDUCTIBLE OPTION, UNDER WHICH YOU, THE EMPLOYER, ARE REQUIRED TO REIMBURSE CERTAIN LOSSES. PLEASE READ THIS POLICY CAREFULLY AND UNDERSTAND ITS CONDITIONS THOROUGHLY PRIOR TO PURCHASING COVERAGE." Any provisions designed to settle the long-term payment obligations of an employer for a loss under the deductible plan should recognize the time value of money. Taxes and Second Injury Fund assessments shall be calculated on a gross basis as if the deductible plan were not being used. This is required under subsection 9 of the Section 287.310, RSMo Supp. 1992, in order to avoid any shortfall in revenue for the operation of the Missouri Division of Workers' Compensation. Assessments for purposes of satisfying an insurance company's "pool burden" shall be determined by the pool's administrators, not the Department of Insurance. The filing of forms shall be made to the Property and Casualty Section of the Missouri Department of Insurance, under the same conditions as with other forms, including the use of TD-2 forms and filing fees.
| 7,765 | 8,973 |
msmarco_v2.1_doc_01_1666424177#13_2442446726
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http://insurance.mo.gov/laws/bulletin/93-07.php
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93-07: Deductible Plans for Workers' Compensation Policies | Missouri Department of Commerce & Insurance
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93-07: Deductible Plans for Workers' Compensation Policies
93-07: Deductible Plans for Workers' Compensation Policies
RESCINDED AND INOPERATIVE
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Taxes and Second Injury Fund assessments shall be calculated on a gross basis as if the deductible plan were not being used. This is required under subsection 9 of the Section 287.310, RSMo Supp. 1992, in order to avoid any shortfall in revenue for the operation of the Missouri Division of Workers' Compensation. Assessments for purposes of satisfying an insurance company's "pool burden" shall be determined by the pool's administrators, not the Department of Insurance. The filing of forms shall be made to the Property and Casualty Section of the Missouri Department of Insurance, under the same conditions as with other forms, including the use of TD-2 forms and filing fees. Those insurers seeking approval should clearly label any filing envelopes and documents as relating to "W/C Large Deductible Plan" or "W/C Small Deductible Plan." Insurance companies with pending applications for approval which meet the above criteria need not refile. An Emergency Rule representing the substance of the above criteria and reporting requirements will be filed by the Department with the Secretary of State.
| 8,286 | 9,399 |
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http://insurance.mo.gov/news/2010/Parents_can_soon_keep_children_up_to_age_26_on_their_health_insurance
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Missouri Department of Insurance
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Insurance News
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Missouri Department of Insurance
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Private investigators must be licensed under new Missouri law
January 05, 2010
Report: new laws needed to ensure timely payments to health providers for patient care
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msmarco_v2.1_doc_01_1666438204#0_2442452498
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http://insurance.mo.gov/renewin3/
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Insurance Producer Licensing Renewal | Missouri Department of Commerce & Insurance
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Insurance Producer Licensing Renewal
Insurance Producer Licensing Renewal
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Insurance Producer Licensing Renewal | Missouri Department of Commerce & Insurance
Insurance Producer Licensing Renewal
The Missouri Department of Commerce and Insurance encourages you to renew early and electronically. For those license types where electronic renewal is not available, please contact us at the phone number or email address below for specific instructions. You may renew your license beginning 60 days before it expires. Renew in three easy steps: Update your address, if needed. Click here. Otherwise, go to Step 2. Make sure your continuing education is compliant. If you're compliant, go to Step 3. CE requirements:
| 0 | 636 |
msmarco_v2.1_doc_01_1666438204#1_2442453471
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http://insurance.mo.gov/renewin3/
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Insurance Producer Licensing Renewal | Missouri Department of Commerce & Insurance
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Insurance Producer Licensing Renewal
Insurance Producer Licensing Renewal
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Click here. Otherwise, go to Step 2. Make sure your continuing education is compliant. If you're compliant, go to Step 3. CE requirements: Resident producers licensed for major lines of authority (life, health, property, casualty, personal lines) or title must meet the CE requirement before they can renew. Verify your resident CE
Nonresident producers must hold comparable lines of authority in their resident state as they do in Missouri to renew electronically. Renew and pay with credit card or e-check. The renewal fee is $100. A late fee of $25 per month shall be assessed for any producer who fails to renew their producer license by the expiration date.
| 498 | 1,160 |
msmarco_v2.1_doc_01_1666438204#2_2442454472
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http://insurance.mo.gov/renewin3/
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Insurance Producer Licensing Renewal | Missouri Department of Commerce & Insurance
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Insurance Producer Licensing Renewal
Insurance Producer Licensing Renewal
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Resident producers licensed for major lines of authority (life, health, property, casualty, personal lines) or title must meet the CE requirement before they can renew. Verify your resident CE
Nonresident producers must hold comparable lines of authority in their resident state as they do in Missouri to renew electronically. Renew and pay with credit card or e-check. The renewal fee is $100. A late fee of $25 per month shall be assessed for any producer who fails to renew their producer license by the expiration date. The late fee continues until all required documents and fees have been received for a maximum of one year. Resident renewal
Non-resident renewal
Questions? Or if your license cannot be renewed electronically. Contact the Licensing Section at 573-751-3518 or [email protected]. Agent / producer main page
| 637 | 1,473 |
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http://insurance.mo.gov/reports/
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Insurance FAQs | Missouri Department of Commerce & Insurance
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Statistical Reports
Statistical Reports
Reports generated annually
Special reports:
Aggregated data
ZIP code data years available
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Insurance FAQs | Missouri Department of Commerce & Insurance
Statistical Reports
DCI's Statistics Section collects information, maintains databases and publishes reports on the insurance markets in Missouri. With this information, the department aims to facilitate the flow of insurance market information for consumers, insurance companies and departmental staff and to monitor the availability and affordability of insurance coverage in Missouri. Reports generated annually
Complaint index report
Complaints filed against Missouri insurers during the past three years. Companies are categorized by line of business and type of complaint. Company performance is compared to the Missouri industry average. Market share report
Market data for the top 35 firms and insurance groups and insurance groups, including historical trends, for each line of business. Supplement data reports for property & casualty and life & health
Data on written premium, loss ratios, and other data for all property and casualty and life and health insurers licensed in Missouri for all major lines of business. Market conduct annual statement
Industrywide averages based on the most current data, including underwriting and claims payment times. Autism report and ABA limits
Missouri law requires the Department of Insurance to issue an annual report to the legislature assessing the impact of the autism mandate on the insurance marketplace, and adjust the annual benefit limit for inflation. Health Insurance Market Report
This report was first issued in 2018, and replaces the HMO report with a broader review of the health insurance market.
| 0 | 1,623 |
msmarco_v2.1_doc_01_1666439975#1_2442457656
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http://insurance.mo.gov/reports/
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Insurance FAQs | Missouri Department of Commerce & Insurance
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Statistical Reports
Statistical Reports
Reports generated annually
Special reports:
Aggregated data
ZIP code data years available
|
Market share report
Market data for the top 35 firms and insurance groups and insurance groups, including historical trends, for each line of business. Supplement data reports for property & casualty and life & health
Data on written premium, loss ratios, and other data for all property and casualty and life and health insurers licensed in Missouri for all major lines of business. Market conduct annual statement
Industrywide averages based on the most current data, including underwriting and claims payment times. Autism report and ABA limits
Missouri law requires the Department of Insurance to issue an annual report to the legislature assessing the impact of the autism mandate on the insurance marketplace, and adjust the annual benefit limit for inflation. Health Insurance Market Report
This report was first issued in 2018, and replaces the HMO report with a broader review of the health insurance market. HMO report (Discontinued after 2016)
HMO data from the annual financial statements, such as premiums earned and costs incurred for health-related services. It also includes enrollment data, including enrollment for specified regions of the state. Medical malpractice report
Aggregate claims for the three years before the report. Includes information on claim frequency, loss ratios by company, by type of insured, average dollar settlements, litigated claims, average time to close claims and other trends in medical malpractice. Legal malpractice report
A 10-year summary by area of law for filed claims, major activity responsible for alleged errors or omissions, most significant reasons for claims, years admitted to practice and relationship of the insured to the claimant.
| 705 | 2,403 |
msmarco_v2.1_doc_01_1666439975#2_2442459738
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http://insurance.mo.gov/reports/
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Insurance FAQs | Missouri Department of Commerce & Insurance
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Statistical Reports
Statistical Reports
Reports generated annually
Special reports:
Aggregated data
ZIP code data years available
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HMO report (Discontinued after 2016)
HMO data from the annual financial statements, such as premiums earned and costs incurred for health-related services. It also includes enrollment data, including enrollment for specified regions of the state. Medical malpractice report
Aggregate claims for the three years before the report. Includes information on claim frequency, loss ratios by company, by type of insured, average dollar settlements, litigated claims, average time to close claims and other trends in medical malpractice. Legal malpractice report
A 10-year summary by area of law for filed claims, major activity responsible for alleged errors or omissions, most significant reasons for claims, years admitted to practice and relationship of the insured to the claimant. Product liability report
Aggregate claims analysis incorporating three years of data. Included are indemnity paid per claim, average loss expense, average initial reserve, average time to close claims, business classification loss experience, product indemnity analysis and resolution and expense of litigated claims. Mortgage guaranty insurance report
Reports data from the most recent year and for more than two decades for both residential and commercial lines of mortgage guaranty insurance. The data includes earned premium by company, losses paid, outstanding claim reserves, IBNR reserves, contingency reserves, loaded loss ratios and true loss ratios. DCI Biennial Report
Outlines the agency's mission and organizational structure, and summarizes major activities for the year.
| 1,623 | 3,189 |
msmarco_v2.1_doc_01_1666439975#3_2442461687
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http://insurance.mo.gov/reports/
|
Insurance FAQs | Missouri Department of Commerce & Insurance
|
Statistical Reports
Statistical Reports
Reports generated annually
Special reports:
Aggregated data
ZIP code data years available
|
Product liability report
Aggregate claims analysis incorporating three years of data. Included are indemnity paid per claim, average loss expense, average initial reserve, average time to close claims, business classification loss experience, product indemnity analysis and resolution and expense of litigated claims. Mortgage guaranty insurance report
Reports data from the most recent year and for more than two decades for both residential and commercial lines of mortgage guaranty insurance. The data includes earned premium by company, losses paid, outstanding claim reserves, IBNR reserves, contingency reserves, loaded loss ratios and true loss ratios. DCI Biennial Report
Outlines the agency's mission and organizational structure, and summarizes major activities for the year. First Steps Report
Senate Bill 500, passed in 2005, requires licensed health insurers and HMOs to include coverage in their benefit packages for services provided under the First Steps Program. This report details the number of children receiving private insurance coverage for the program and the total amount paid for children with private insurance coverage. Special reports: Policy Brief: Health Coverage for Air Ambulance Transport
Private Passenger Automobile Insurance:
| 2,403 | 3,666 |
msmarco_v2.1_doc_01_1666439975#4_2442463332
|
http://insurance.mo.gov/reports/
|
Insurance FAQs | Missouri Department of Commerce & Insurance
|
Statistical Reports
Statistical Reports
Reports generated annually
Special reports:
Aggregated data
ZIP code data years available
|
First Steps Report
Senate Bill 500, passed in 2005, requires licensed health insurers and HMOs to include coverage in their benefit packages for services provided under the First Steps Program. This report details the number of children receiving private insurance coverage for the program and the total amount paid for children with private insurance coverage. Special reports: Policy Brief: Health Coverage for Air Ambulance Transport
Private Passenger Automobile Insurance: A review of the market in Missouri (July 2018)
Missouri Earthquake Report shows insurance coverage at critical tipping point (August 2015)
Earthquake Insurance Task Force (December 2008)
Workers' compensation - NCCI loss cost filing
Insurance-based credit scores: impact on minority and low-income populations in Missouri (January 2004)
The department also maintains the following databases: Missouri ZIP code insurance data for homeowners/dwelling fire, farm owners, mobile Home, earthquake and private passenger automobile
Missouri law requires insurers writing personal lines insurance to file data by ZIP code, including exposures written, premium written, loss paid count and losses paid. Data is collected on an annual basis. Medigap (Medicare supplement) experience data
Since 1982, companies writing Medigap insurance have reported their experience by policy number.
| 3,189 | 4,541 |
msmarco_v2.1_doc_01_1666439975#5_2442465070
|
http://insurance.mo.gov/reports/
|
Insurance FAQs | Missouri Department of Commerce & Insurance
|
Statistical Reports
Statistical Reports
Reports generated annually
Special reports:
Aggregated data
ZIP code data years available
|
A review of the market in Missouri (July 2018)
Missouri Earthquake Report shows insurance coverage at critical tipping point (August 2015)
Earthquake Insurance Task Force (December 2008)
Workers' compensation - NCCI loss cost filing
Insurance-based credit scores: impact on minority and low-income populations in Missouri (January 2004)
The department also maintains the following databases: Missouri ZIP code insurance data for homeowners/dwelling fire, farm owners, mobile Home, earthquake and private passenger automobile
Missouri law requires insurers writing personal lines insurance to file data by ZIP code, including exposures written, premium written, loss paid count and losses paid. Data is collected on an annual basis. Medigap (Medicare supplement) experience data
Since 1982, companies writing Medigap insurance have reported their experience by policy number. Included are annual premium and loss experiences. Commercial liability experience data
Provides information on companies writing commercial liability insurance, including a profitability report and a summary of the claims, closed and outstanding, for specific commercial lines of insurance. Aggregated data
The Department of Insurance compiles a sophisticated database of ZIP code information on premium sales, losses and exposures from company reports. Aggregate data (non-company specific) is available to the public by exposures written, premium written, number of losses and losses paid. Please email or call us at 573-751-3163 to place your request.
| 3,667 | 5,196 |
msmarco_v2.1_doc_01_1666439975#6_2442466986
|
http://insurance.mo.gov/reports/
|
Insurance FAQs | Missouri Department of Commerce & Insurance
|
Statistical Reports
Statistical Reports
Reports generated annually
Special reports:
Aggregated data
ZIP code data years available
|
Included are annual premium and loss experiences. Commercial liability experience data
Provides information on companies writing commercial liability insurance, including a profitability report and a summary of the claims, closed and outstanding, for specific commercial lines of insurance. Aggregated data
The Department of Insurance compiles a sophisticated database of ZIP code information on premium sales, losses and exposures from company reports. Aggregate data (non-company specific) is available to the public by exposures written, premium written, number of losses and losses paid. Please email or call us at 573-751-3163 to place your request. ZIP code data years available
Homeowners (1987-present)
Mobile home (1993-present)
Farm owners (1993-present)
Earthquake (1993-present)
Automobile (1987-present)
| 4,542 | 5,358 |
msmarco_v2.1_doc_01_1666445708#0_2442468187
|
http://insurance.safeco.com/
|
Safeco Insurance | 855-998-4713 | Free Auto & Home Insurance Quotes
|
the Safeco Insurance
company
the Safeco Insurance ® company
what makes Safeco Insurance different?
three words: local, independent agents
service tailored to you
a partner you can trust
bundle and save
learn more about Safeco Insurance coverage
car insurance
homeowners insurance
bundle your Safeco Insurance policies to save
top 3 reasons why customers choose the Safeco Package
1. cost-effective
2. convenient
3. comprehensive
why choose Safeco Insurance?
|
Safeco Insurance | 855-998-4713 | Free Auto & Home Insurance Quotes
1-855-204-4050
the Safeco Insurance ® company
what makes Safeco Insurance different? three words: local, independent agents
Let’s be honest—shopping for insurance online can be a real headache. Whether you want coverage for your car, your house, or something else entirely, let an independent Safeco agent do all the heavy lifting for you! Your local Safeco agent will work with you to help you find the right coverage, with the right company, and at the right price. And with 24-hour claims support, you can GO CONFIDENTLY ™ forward into each day, knowing that Safeco will be there when you need it. service tailored to you
Build the insurance policy you need at the price you want with personalized help from an insurance expert. a partner you can trust
Rest easy knowing your insurance policy is backed by the financial strength of Liberty Mutual Group. bundle and save
Gain access to exclusive discounts when you bundle your home, auto, or other insurance policy today! learn more about Safeco Insurance coverage
No two people are alike, so why choose a one-size-fits-all insurance policy that may or may not suit your needs?
| 0 | 1,197 |
msmarco_v2.1_doc_01_1666445708#1_2442470136
|
http://insurance.safeco.com/
|
Safeco Insurance | 855-998-4713 | Free Auto & Home Insurance Quotes
|
the Safeco Insurance
company
the Safeco Insurance ® company
what makes Safeco Insurance different?
three words: local, independent agents
service tailored to you
a partner you can trust
bundle and save
learn more about Safeco Insurance coverage
car insurance
homeowners insurance
bundle your Safeco Insurance policies to save
top 3 reasons why customers choose the Safeco Package
1. cost-effective
2. convenient
3. comprehensive
why choose Safeco Insurance?
|
And with 24-hour claims support, you can GO CONFIDENTLY ™ forward into each day, knowing that Safeco will be there when you need it. service tailored to you
Build the insurance policy you need at the price you want with personalized help from an insurance expert. a partner you can trust
Rest easy knowing your insurance policy is backed by the financial strength of Liberty Mutual Group. bundle and save
Gain access to exclusive discounts when you bundle your home, auto, or other insurance policy today! learn more about Safeco Insurance coverage
No two people are alike, so why choose a one-size-fits-all insurance policy that may or may not suit your needs? Talk to an independent Safeco agent today to learn more about home, auto, and other insurance products. Ask for a free quote to get detailed, personalized information about coverage, premiums, deductibles, and more. car insurance
Accident forgiveness for some drivers
Optional Roadside Assistance* coverage
Diminishing deductibles with some policies
Optional rental car reimbursement
learn more
homeowners insurance
Personal property coverage with every policy
Optional coverage for valuables
Additional Living Expenses coverage
Optional Equipment Breakdown Coverage for appliances
learn more
bundle your Safeco Insurance policies to save
Bundling your homeowners, car, or other policies with the Safeco Package makes sense for many reasons. Not only can you gain access to Safeco’s deepest insurance discounts, but you can customize your coverage selections to save valuable time and money. top 3 reasons why customers choose the Safeco Package
1.
| 536 | 2,146 |
msmarco_v2.1_doc_01_1666445708#2_2442472500
|
http://insurance.safeco.com/
|
Safeco Insurance | 855-998-4713 | Free Auto & Home Insurance Quotes
|
the Safeco Insurance
company
the Safeco Insurance ® company
what makes Safeco Insurance different?
three words: local, independent agents
service tailored to you
a partner you can trust
bundle and save
learn more about Safeco Insurance coverage
car insurance
homeowners insurance
bundle your Safeco Insurance policies to save
top 3 reasons why customers choose the Safeco Package
1. cost-effective
2. convenient
3. comprehensive
why choose Safeco Insurance?
|
Talk to an independent Safeco agent today to learn more about home, auto, and other insurance products. Ask for a free quote to get detailed, personalized information about coverage, premiums, deductibles, and more. car insurance
Accident forgiveness for some drivers
Optional Roadside Assistance* coverage
Diminishing deductibles with some policies
Optional rental car reimbursement
learn more
homeowners insurance
Personal property coverage with every policy
Optional coverage for valuables
Additional Living Expenses coverage
Optional Equipment Breakdown Coverage for appliances
learn more
bundle your Safeco Insurance policies to save
Bundling your homeowners, car, or other policies with the Safeco Package makes sense for many reasons. Not only can you gain access to Safeco’s deepest insurance discounts, but you can customize your coverage selections to save valuable time and money. top 3 reasons why customers choose the Safeco Package
1. cost-effective
Combine your home and auto policies using the Safeco Package and save up to 15 percent! If more than one of your properties are damaged in the same event, you may also benefit from the Single Loss Deductible. 2. convenient
Never manage multiple insurance bills again! Bundling your policies with the Safeco Package allows you to combine your billing statements and align your policy renewal dates.
| 1,198 | 2,559 |
msmarco_v2.1_doc_01_1666445708#3_2442474609
|
http://insurance.safeco.com/
|
Safeco Insurance | 855-998-4713 | Free Auto & Home Insurance Quotes
|
the Safeco Insurance
company
the Safeco Insurance ® company
what makes Safeco Insurance different?
three words: local, independent agents
service tailored to you
a partner you can trust
bundle and save
learn more about Safeco Insurance coverage
car insurance
homeowners insurance
bundle your Safeco Insurance policies to save
top 3 reasons why customers choose the Safeco Package
1. cost-effective
2. convenient
3. comprehensive
why choose Safeco Insurance?
|
cost-effective
Combine your home and auto policies using the Safeco Package and save up to 15 percent! If more than one of your properties are damaged in the same event, you may also benefit from the Single Loss Deductible. 2. convenient
Never manage multiple insurance bills again! Bundling your policies with the Safeco Package allows you to combine your billing statements and align your policy renewal dates. 3. comprehensive
Enhance your policies with optional coverages, such as Roadside Assistance* for your vehicle or Equipment Breakdown Coverage for your home. 24/7 claims service means you can get help if and when you need it. why choose Safeco Insurance? A tree falls on your house.
| 2,147 | 2,841 |
msmarco_v2.1_doc_01_1666445708#4_2442476033
|
http://insurance.safeco.com/
|
Safeco Insurance | 855-998-4713 | Free Auto & Home Insurance Quotes
|
the Safeco Insurance
company
the Safeco Insurance ® company
what makes Safeco Insurance different?
three words: local, independent agents
service tailored to you
a partner you can trust
bundle and save
learn more about Safeco Insurance coverage
car insurance
homeowners insurance
bundle your Safeco Insurance policies to save
top 3 reasons why customers choose the Safeco Package
1. cost-effective
2. convenient
3. comprehensive
why choose Safeco Insurance?
|
3. comprehensive
Enhance your policies with optional coverages, such as Roadside Assistance* for your vehicle or Equipment Breakdown Coverage for your home. 24/7 claims service means you can get help if and when you need it. why choose Safeco Insurance? A tree falls on your house. A driver rear-ends your car. However the unexpected rears its ugly head, the last thing you want is to have to wrestle with an unreliable insurance provider. With over 90 years of experience, Safeco combines the insider know-how of local industry experts with the financial stability of parent company Liberty Mutual Group to bring you fully customizable coverage at a competitive price point. Talk to an independent Safeco agent today to learn more and to get a free, no-obligation insurance quote. get an auto, home, or other insurance quote today.
| 2,559 | 3,392 |
msmarco_v2.1_doc_01_1666445708#5_2442477593
|
http://insurance.safeco.com/
|
Safeco Insurance | 855-998-4713 | Free Auto & Home Insurance Quotes
|
the Safeco Insurance
company
the Safeco Insurance ® company
what makes Safeco Insurance different?
three words: local, independent agents
service tailored to you
a partner you can trust
bundle and save
learn more about Safeco Insurance coverage
car insurance
homeowners insurance
bundle your Safeco Insurance policies to save
top 3 reasons why customers choose the Safeco Package
1. cost-effective
2. convenient
3. comprehensive
why choose Safeco Insurance?
|
A driver rear-ends your car. However the unexpected rears its ugly head, the last thing you want is to have to wrestle with an unreliable insurance provider. With over 90 years of experience, Safeco combines the insider know-how of local industry experts with the financial stability of parent company Liberty Mutual Group to bring you fully customizable coverage at a competitive price point. Talk to an independent Safeco agent today to learn more and to get a free, no-obligation insurance quote. get an auto, home, or other insurance quote today. 1-855-204-4050
| 2,842 | 3,407 |
msmarco_v2.1_doc_01_1666449850#0_2442478885
|
http://insurance.utah.gov/
|
Utah Insurance Department | Insurance Made Easy
|
Insurance Made Easy
ALERT: What to Know About Coronavirus & Your Insurance
Insurance Made Easy
Consumer
Licensee
Utah Insurance Department
News
Notice of Company Applying to Become a Utah Certified Reinsurer
2021 Special Enrollment Period in Response to the COVID-19 Emergency
Fraud Awareness: 5 Ways to Stay Safe
As Millennials Approach 40, Life Insurance Should Be On The Agenda — But Many Aren’t Prepared
Magna Earthquake Individual Assistance from FEMA available for residents of Davis and Salt Lake Counties
Remote Testing Now Available for Utah Licensees
Senior Alert: COVID-19 Scams Spreading
What to Know About Coronavirus & Your Insurance
Arches Health Plans News
Penn Treaty & American Network Insurance Company News
About Us
|
Utah Insurance Department | Insurance Made Easy
ALERT: What to Know About Coronavirus & Your Insurance
Insurance Made Easy
INSURANCE CAN BE COMPLICATED. WE MAKE IT EASY. FROM HEALTH INSURANCE TO AUTO AND EVERYTHING IN BETWEEN. GOT QUESTIONS? DISPUTES? EXPLORE OUR SITE OR CALL US. WE’RE HERE TO HELP. Skip to content
Menu
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News
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About Us
Consumer
File a complaint against an insurance company or agent
Look up a company, agency, or individual agent
Legal Resources: Insurance rules, laws, bulletins, enforcement
Shopping for insurance
Information & records requests (GRAMA/FOIA)
Department Legislation:
| 0 | 649 |
msmarco_v2.1_doc_01_1666449850#1_2442480540
|
http://insurance.utah.gov/
|
Utah Insurance Department | Insurance Made Easy
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Insurance Made Easy
ALERT: What to Know About Coronavirus & Your Insurance
Insurance Made Easy
Consumer
Licensee
Utah Insurance Department
News
Notice of Company Applying to Become a Utah Certified Reinsurer
2021 Special Enrollment Period in Response to the COVID-19 Emergency
Fraud Awareness: 5 Ways to Stay Safe
As Millennials Approach 40, Life Insurance Should Be On The Agenda — But Many Aren’t Prepared
Magna Earthquake Individual Assistance from FEMA available for residents of Davis and Salt Lake Counties
Remote Testing Now Available for Utah Licensees
Senior Alert: COVID-19 Scams Spreading
What to Know About Coronavirus & Your Insurance
Arches Health Plans News
Penn Treaty & American Network Insurance Company News
About Us
|
DISPUTES? EXPLORE OUR SITE OR CALL US. WE’RE HERE TO HELP. Skip to content
Menu
Utah Insurance
insurance
Consumer
Licensee
News
Fraud
About Us
Consumer
File a complaint against an insurance company or agent
Look up a company, agency, or individual agent
Legal Resources: Insurance rules, laws, bulletins, enforcement
Shopping for insurance
Information & records requests (GRAMA/FOIA)
Department Legislation: Information concerning insurance-related legislation
Insure U: " Get Smart About Insurance"
Healthrates: The State of Utah Insurance Transparency Site
Quick Links: Links to our most frequently requested information. Contact us
Tweets by uidnews
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Licensee
Reports and information requests
Look up a company, agency, or individual agent
Legal Resources:
| 242 | 1,009 |
msmarco_v2.1_doc_01_1666449850#2_2442482325
|
http://insurance.utah.gov/
|
Utah Insurance Department | Insurance Made Easy
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Insurance Made Easy
ALERT: What to Know About Coronavirus & Your Insurance
Insurance Made Easy
Consumer
Licensee
Utah Insurance Department
News
Notice of Company Applying to Become a Utah Certified Reinsurer
2021 Special Enrollment Period in Response to the COVID-19 Emergency
Fraud Awareness: 5 Ways to Stay Safe
As Millennials Approach 40, Life Insurance Should Be On The Agenda — But Many Aren’t Prepared
Magna Earthquake Individual Assistance from FEMA available for residents of Davis and Salt Lake Counties
Remote Testing Now Available for Utah Licensees
Senior Alert: COVID-19 Scams Spreading
What to Know About Coronavirus & Your Insurance
Arches Health Plans News
Penn Treaty & American Network Insurance Company News
About Us
|
Information concerning insurance-related legislation
Insure U: " Get Smart About Insurance"
Healthrates: The State of Utah Insurance Transparency Site
Quick Links: Links to our most frequently requested information. Contact us
Tweets by uidnews
Read More
Licensee
Reports and information requests
Look up a company, agency, or individual agent
Legal Resources: Insurance rules, laws, bulletins & enforcement
Individual & company licensing procedures
File a complaint against an insurance company or agent
Department Legislation: Information concerning insurance-related legislation
Fighting fraud through effective investigation & prosecution
Continuing education requirements
Quick Links: Links to our most frequently requested information
Contact us
Utah Insurance Department
The state of Utah is part of the U.S. insurance regulatory framework which is a highly coordinated state-based national system designed to protect policyholders and to serve the greater public interest through the effective regulation of the U.S. insurance marketplace. Through the National Association of Insurance Commissioners (NAIC), U.S. insurance regulators. Establish national standards and best practices, conduct peer reviews and coordinate their regulatory oversight to better protect the interests of consumers while ensuring a strong, viable insurance marketplace.
| 650 | 2,003 |
msmarco_v2.1_doc_01_1666449850#3_2442484685
|
http://insurance.utah.gov/
|
Utah Insurance Department | Insurance Made Easy
|
Insurance Made Easy
ALERT: What to Know About Coronavirus & Your Insurance
Insurance Made Easy
Consumer
Licensee
Utah Insurance Department
News
Notice of Company Applying to Become a Utah Certified Reinsurer
2021 Special Enrollment Period in Response to the COVID-19 Emergency
Fraud Awareness: 5 Ways to Stay Safe
As Millennials Approach 40, Life Insurance Should Be On The Agenda — But Many Aren’t Prepared
Magna Earthquake Individual Assistance from FEMA available for residents of Davis and Salt Lake Counties
Remote Testing Now Available for Utah Licensees
Senior Alert: COVID-19 Scams Spreading
What to Know About Coronavirus & Your Insurance
Arches Health Plans News
Penn Treaty & American Network Insurance Company News
About Us
|
Insurance rules, laws, bulletins & enforcement
Individual & company licensing procedures
File a complaint against an insurance company or agent
Department Legislation: Information concerning insurance-related legislation
Fighting fraud through effective investigation & prosecution
Continuing education requirements
Quick Links: Links to our most frequently requested information
Contact us
Utah Insurance Department
The state of Utah is part of the U.S. insurance regulatory framework which is a highly coordinated state-based national system designed to protect policyholders and to serve the greater public interest through the effective regulation of the U.S. insurance marketplace. Through the National Association of Insurance Commissioners (NAIC), U.S. insurance regulators. Establish national standards and best practices, conduct peer reviews and coordinate their regulatory oversight to better protect the interests of consumers while ensuring a strong, viable insurance marketplace. U.S. insurance regulators also participate in the Internationa l Association of Insurance Supervisors (IAIS) along with the NAIC by participating in major standard setting initiatives, including working with fellow regulators from around the world to better supervise cross-border insurers, identifying systemic risk in the insurance sector, and creating international best practices. Read More
News
Notice of Company Applying to Become a Utah Certified Reinsurer
April 14, 2021 — Chubb European Group SE, an insurance company from France, has applied to become a Certified Reinsurer in the State of Utah. If you have any questions or concerns, please contact Jay Sueoka with the Utah Insurance Department at (801) 957-9253 or by email at [email protected] no later than May 25, 2021. Utah PMN Posting
Read More
2021 Special Enrollment Period in Response to the COVID-19 Emergency
The Department of Health & Human Services (HHS) has announced a Special Enrollment Period (SEP) for individuals and families to shop for Marketplace coverage in response to the COVID-19 Public Health Emergency […]
Read More
Fraud Awareness: 5 Ways to Stay Safe
Stay alert to insurance scams year-round.
| 1,010 | 3,186 |
msmarco_v2.1_doc_01_1666449850#4_2442487876
|
http://insurance.utah.gov/
|
Utah Insurance Department | Insurance Made Easy
|
Insurance Made Easy
ALERT: What to Know About Coronavirus & Your Insurance
Insurance Made Easy
Consumer
Licensee
Utah Insurance Department
News
Notice of Company Applying to Become a Utah Certified Reinsurer
2021 Special Enrollment Period in Response to the COVID-19 Emergency
Fraud Awareness: 5 Ways to Stay Safe
As Millennials Approach 40, Life Insurance Should Be On The Agenda — But Many Aren’t Prepared
Magna Earthquake Individual Assistance from FEMA available for residents of Davis and Salt Lake Counties
Remote Testing Now Available for Utah Licensees
Senior Alert: COVID-19 Scams Spreading
What to Know About Coronavirus & Your Insurance
Arches Health Plans News
Penn Treaty & American Network Insurance Company News
About Us
|
U.S. insurance regulators also participate in the Internationa l Association of Insurance Supervisors (IAIS) along with the NAIC by participating in major standard setting initiatives, including working with fellow regulators from around the world to better supervise cross-border insurers, identifying systemic risk in the insurance sector, and creating international best practices. Read More
News
Notice of Company Applying to Become a Utah Certified Reinsurer
April 14, 2021 — Chubb European Group SE, an insurance company from France, has applied to become a Certified Reinsurer in the State of Utah. If you have any questions or concerns, please contact Jay Sueoka with the Utah Insurance Department at (801) 957-9253 or by email at [email protected] no later than May 25, 2021. Utah PMN Posting
Read More
2021 Special Enrollment Period in Response to the COVID-19 Emergency
The Department of Health & Human Services (HHS) has announced a Special Enrollment Period (SEP) for individuals and families to shop for Marketplace coverage in response to the COVID-19 Public Health Emergency […]
Read More
Fraud Awareness: 5 Ways to Stay Safe
Stay alert to insurance scams year-round. Get the most out of your insurance policies. Be safe, know the warning signs — and report scams. […] Read More
As Millennials Approach 40, Life Insurance Should Be On The Agenda — But Many Aren’t Prepared
Today’s millennials (24–39 years old) are getting older, and along with an impending milestone birthday as the first in the generation turns 40, they’re also more likely to be the owners and beneficiaries of life insurance policies. […] Read More
Magna Earthquake Individual Assistance from FEMA available for residents of Davis and Salt Lake Counties
Utah homeowners and renters in Salt Lake and Davis counties who had uninsured losses from the March 18 earthquake may be eligible for federal disaster assistance from FEMA. […] Read More
Remote Testing Now Available for Utah Licensees
Prometric is now offering a remote testing and proctoring tool for insurance licensees in Utah. […]
| 2,004 | 4,078 |
msmarco_v2.1_doc_01_1666449850#5_2442491012
|
http://insurance.utah.gov/
|
Utah Insurance Department | Insurance Made Easy
|
Insurance Made Easy
ALERT: What to Know About Coronavirus & Your Insurance
Insurance Made Easy
Consumer
Licensee
Utah Insurance Department
News
Notice of Company Applying to Become a Utah Certified Reinsurer
2021 Special Enrollment Period in Response to the COVID-19 Emergency
Fraud Awareness: 5 Ways to Stay Safe
As Millennials Approach 40, Life Insurance Should Be On The Agenda — But Many Aren’t Prepared
Magna Earthquake Individual Assistance from FEMA available for residents of Davis and Salt Lake Counties
Remote Testing Now Available for Utah Licensees
Senior Alert: COVID-19 Scams Spreading
What to Know About Coronavirus & Your Insurance
Arches Health Plans News
Penn Treaty & American Network Insurance Company News
About Us
|
Get the most out of your insurance policies. Be safe, know the warning signs — and report scams. […] Read More
As Millennials Approach 40, Life Insurance Should Be On The Agenda — But Many Aren’t Prepared
Today’s millennials (24–39 years old) are getting older, and along with an impending milestone birthday as the first in the generation turns 40, they’re also more likely to be the owners and beneficiaries of life insurance policies. […] Read More
Magna Earthquake Individual Assistance from FEMA available for residents of Davis and Salt Lake Counties
Utah homeowners and renters in Salt Lake and Davis counties who had uninsured losses from the March 18 earthquake may be eligible for federal disaster assistance from FEMA. […] Read More
Remote Testing Now Available for Utah Licensees
Prometric is now offering a remote testing and proctoring tool for insurance licensees in Utah. […] Read More
Senior Alert: COVID-19 Scams Spreading
Seniors have a higher risk of contracting COVID-19, and scammers are preying on those fears. […] Read More
What to Know About Coronavirus & Your Insurance
If you or someone you know is diagnosed with COVID-19, your insurance company will be able to help. Here are the actions Utah’s health insurers are taking to assist people affected by the coronavirus. […] Read More
Arches Health Plans News
On January 13, 2016, the Third Judicial District Court of Salt Lake County, State of Utah issued an Order for the Liquidation of Arches Mutual Insurance Company, a Utah health insurance company.
| 3,187 | 4,717 |
msmarco_v2.1_doc_01_1666449850#6_2442493606
|
http://insurance.utah.gov/
|
Utah Insurance Department | Insurance Made Easy
|
Insurance Made Easy
ALERT: What to Know About Coronavirus & Your Insurance
Insurance Made Easy
Consumer
Licensee
Utah Insurance Department
News
Notice of Company Applying to Become a Utah Certified Reinsurer
2021 Special Enrollment Period in Response to the COVID-19 Emergency
Fraud Awareness: 5 Ways to Stay Safe
As Millennials Approach 40, Life Insurance Should Be On The Agenda — But Many Aren’t Prepared
Magna Earthquake Individual Assistance from FEMA available for residents of Davis and Salt Lake Counties
Remote Testing Now Available for Utah Licensees
Senior Alert: COVID-19 Scams Spreading
What to Know About Coronavirus & Your Insurance
Arches Health Plans News
Penn Treaty & American Network Insurance Company News
About Us
|
Read More
Senior Alert: COVID-19 Scams Spreading
Seniors have a higher risk of contracting COVID-19, and scammers are preying on those fears. […] Read More
What to Know About Coronavirus & Your Insurance
If you or someone you know is diagnosed with COVID-19, your insurance company will be able to help. Here are the actions Utah’s health insurers are taking to assist people affected by the coronavirus. […] Read More
Arches Health Plans News
On January 13, 2016, the Third Judicial District Court of Salt Lake County, State of Utah issued an Order for the Liquidation of Arches Mutual Insurance Company, a Utah health insurance company. Please see the below links for information regarding the liquidation […]
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Penn Treaty & American Network Insurance Company News
Penn Treaty Network America Insurance Company and American Network Insurance Company are affiliated long-term care insurance companies that went into liquidation on March 1, 2017. Information about the companies’ liquidation can be found on Penn Treaty’s website, http://www.penntreaty.com/Liquidation.aspx […]
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About Us
The Utah Insurance Department is part of the U.S. insurance regulatory framework which is a highly coordinated state-based national system designed to protect policyholders and to serve the greater public interest through the effective regulation of the U.S. insurance marketplace. Through the National Association of Insurance Commissioners (NAIC), U.S. insurance regulators establish national standards and best practices, conduct peer reviews and coordinate their regulatory oversight to better protect the interests of consumers while ensuring a strong, viable insurance marketplace. U.S. insurance regulators also participate in the International Association of Insurance Supervisors (IAIS) along with the NAIC by participating in major standard setting initiatives, including working with fellow regulators from around the world to better supervise cross-border insurers, identifying systemic risk in the insurance sector, and creating international best practices. Read More
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