Missouri Revised Statutes













Chapter 375

Provisions Applicable to All Insurance Companies

←375.1080

Section 375.1082.1

375.1085→

August 28, 2015

Type of insurance allowed--annual statement, form--requirements for charter, contents of application.

375.1082. 1. A risk retention group shall be chartered and licensed to

write only liability insurance pursuant to sections 375.1080 to 375.1105 and,

except as provided elsewhere in sections 375.1080 to 375.1105, shall comply

with all of the laws, rules, regulations and requirements applicable to such

insurers chartered and licensed in this state and with section 375.1085 to

the extent such requirements are not a limitation on laws, rules, regulations

or requirements of this state. Notwithstanding any other provision to the

contrary, all risk retention groups chartered in this state shall file with

the department and the National Association of Insurance Commissioners an

annual statement in a form prescribed by the National Association of

Insurance Commissioners, and in disketted form if required by the director,

and completed in accordance with its instructions and the National

Association of Insurance Commissioners Accounting Practices and Procedures

Manual.



2. Before it may offer insurance in any state, each risk retention group

shall also submit for approval to the director a plan of operation or

feasibility study. The risk retention group shall submit an appropriate

revision in the event of any subsequent material change in any item of the

plan of operation or feasibility study, within ten days of any such change.

The group shall not offer any additional kinds of liability insurance, in

this state or in any other state, until a revision of such plan or study is

approved by the director.



3. At the time of filing its application for charter, the risk retention

group shall provide to the director in summary form the following

information: the identity of the initial members of the group, the identity

of those individuals who organized the group or who will provide

administrative services or otherwise influence or control the activities of

the group, the amount and nature of initial capitalization, the coverages to

be afforded, and the states in which the group intends to operate. Upon

receipt of this information, the director shall forward such information to

the National Association of Insurance Commissioners. Providing notification

to the National Association of Insurance Commissioners is in addition to and

shall not be sufficient to satisfy the requirements of sections 375.1080 to

375.1105.



(L. 1991 H.B. 385, et al. § 26, A.L. 1992 H.B. 1574)







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