379.882. Definitions for sections 379.882 to 379.886. - Missouri Statutes

Definitions for sections 379.882 to 379.886.

379.882. As used in sections 379.882 to 379.886:

(1) "Commercial casualty insurance" means casualty insurance forbusiness or nonprofit interests which is not for personal, family or householdpurposes, and which is provided by issuance of a policy of insurance and notmerely a binder for such insurance coverage;

(2) "Director" means the director of the department of insurance,financial institutions and professional registration;

(3) "Insurer" means all insurance companies, reciprocals orinterinsurance exchanges transacting the business of commercial casualtyinsurance in this state;

(4) "Nonpayment of premium" means failure of the named insured todischarge when due any of his obligations in connection with payment ofpremiums on the policies or any installment of the premium whether the premiumis payable directly to the insurer or its agents or indirectly under anypremium finance plan or extension of credit;

(5) "Nonrenewal" means the determination of an insurer not to issue ordeliver a policy replacing at the end of the policy period a policy previouslyissued and delivered by the same insurer or a certificate of notice extendingthe term of a policy beyond its policy period or term;

(6) "Renewal" or "to renew" means a policy previously issued anddelivered by the same insurer or the issuance and delivery of a certificate ornotice extending the term of the policy beyond its policy period or term, andany policy written for a term longer than one year or any policy with no fixedexpiration date shall be considered as if written for successive policyperiods or terms of one year.

(L. 1987 H.B. 700 § 22)

Effective 7-1-87