2011 Missouri Revised Statutes
TITLE XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375 Provisions Applicable to All Insurance Companies
Section 375.039. Commercial risks, certain class, cancellation, written notice to agent required, when.
Commercial risks, certain class, cancellation, written notice to agent required, when.
375.039. 1. No insurer may cancel, terminate or otherwise withdraw coverage for a certain class of commercial risk, unless written notice of such cancellation, termination, or withdrawal is given to the insurer's independent insurance producer authorized to sell such insurance coverage at least sixty days prior to such cancellation, termination or withdrawal.
2. The provisions of subsection 1 of this section shall not apply if the cancellation, termination or withdrawal of coverage by an insurer is by reason of reinsurance requirements, adverse loss experience, or by the requirement of the Missouri department of insurance, financial institutions and professional registration. In these circumstances, the notice described in subsection 1 of this section shall be given at least thirty days prior to such cancellation, termination or withdrawal.
(L. 1985 S.B. 329, A.L. 2001 S.B. 193)Effective 1-01-03
Annotation Copyright Missouri Joint Committee on Legislative Research
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