383.062. Reports of real estate malpractice, contents. - Missouri Statutes

Reports of real estate malpractice, contents.

383.062. 1. Every insurer providing real estate malpracticeinsurance to persons, corporations, copartnerships orassociations licensed under the provisions of chapter 339, RSMo,and all employees of the foregoing acting in the course and scopeof their employment shall submit a confidential report to thedirector on January first of each year containing all claims forreal estate malpractice made against any of its insureds duringthe preceding twelve-month period.

2. The report shall be in writing and on a form prescribedby the director. One form shall be completed for each claim andthe form shall contain the following information relating to eachclaim:

(1) The insurer's claim number;

(2) The city population where the claim was made;

(3) How many real estate brokers and agents are insuredunder the policy;

(4) How many years the insured had been licensed at the timeof the alleged act or omission;

(5) The type of real estate office or entity of which theinsured is a member;

(6) The relationship of the insured to the claimant;

(7) Whether the claim arose after the insured made anattempt to collect a fee;

(8) The month and year of the occurrence on which the claimwas based;

(9) The month and year when the claim was first reported tothe insurer;

(10) The alleged act or omission which was the mostsignificantly related to the cause of the claim being made;

(11) The reserve established for loss payment;

(12) The reserve established for loss expenses; and

(13) The amount of the insured's deductible.

3. The insurer shall, within six months of final dispositionof the claim, report to the director the final outcome of theclaim including any payments made.

(L. 1986 H.B. 1393 § 2)