375.1269. Provisions of law supplemental to other insurance laws--rules and regulations, authority--exemption of property--immunity from liability. - Missouri Statutes

Provisions of law supplemental to other insurance laws--rules andregulations, authority--exemption of property--immunity fromliability.

375.1269. 1. The provisions of sections 375.1250 to 375.1275 aresupplemental to any other provisions of the laws of this state, and shall notpreclude or limit any other powers or duties of the director under such laws,including but not limited to sections 375.1150 to 375.1246.

2. The director may adopt reasonable rules and regulations necessary forthe implementation of sections 375.1250 to 375.1275. No rule or regulationpromulgated under authority of this section shall become effective unless ithas been promulgated pursuant to the provisions of section 536.024, RSMo.

3. The director may exempt from the provisions of sections 375.1250 to375.1275 any domestic property and casualty insurer which:

(1) Writes direct business only in this state;

(2) Writes direct annual premiums of two million dollars or less; and

(3) Assumes no reinsurance in excess of five percent of direct premiumwritten.

4. There shall be no liability on the part of, and no cause of actionshall arise against, the director, the department of insurance, financialinstitutions and professional registration or its employees or agents for anyaction taken by them in the performance of their powers and duties undersections 375.1250 to 375.1275.

(L. 1993 H.B. 709 § 9, A.L. 1996 S.B. 759)