383.225. Insurer defined--prohibitions on insurers--failure to provide notice, continuation of coverage. - Missouri Statutes

Insurer defined--prohibitions on insurers--failure to provide notice,continuation of coverage.

383.225. 1. As used in this section, "insurer" includes every insurancecompany authorized to transact business in this state, every unauthorizedinsurance company transacting business pursuant to chapter 384, RSMo, everyrisk retention group, every insurance company issuing policies or providingbenefits to or through a purchasing group, and any other person providingmedical malpractice insurance coverage in this state.

2. Notwithstanding any other provision of law, no insurer shall, withregards to medical malpractice insurance, as defined in section 383.150:

(1) Fail or refuse to renew the insurance without first providingwritten notice by certified United States mail to the insured at least sixtydays prior to the effective date of such actions, unless such failure orrefusal to renew is based upon a failure to pay sums due or a termination orsuspension of the health care provider's license to practice medicine in thestate of Missouri, termination of the insurer's reinsurance program, or amaterial change in the nature of the insured's health care practice; or

(2) Cease the issuance of such policies of insurance in the state ofMissouri without first providing written notice by certified United Statesmail to the insured and to the Missouri department of insurance, financialinstitutions and professional registration at least one hundred eighty daysprior to the effective date of such actions.

3. Any insurer that fails to provide the notice required undersubdivision (1) of subsection 2 of this section shall, at the option of theinsured, continue the coverage for the remainder of the notice period plus anadditional thirty days at the premium rate of the existing policy.

(L. 2006 H.B. 1837 § 383.450)