Missouri Code of State Regulations
Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE
Division 200 - Insurance Solvency and Company Regulation
Chapter 10 - Managing General Agent (MGA)
Section 20 CSR 200-10.200 - Filings Required Within Thirty Days of Appointment of an MGA
Universal Citation: 20 MO Code of State Regs 200-10.200
Current through Register Vol. 49, No. 6, March 15, 2024
PURPOSE: This rule implements and administers sections 375.147-375.153, RSMo regarding filings required within thirty days of appointment.
(1) Any insurer who is required under 20 CSR 200-10.100 to file for appointment of a managing general agent (MGA) must complete and file the following within thirty (30) days of that appointment:
(A) The Appointment Form MGA-1. (see
20 CSR 200-10.500
) This form must list all information requested, including, but not limited to,
the name and Missouri insurance producer's license number of the MGA. Attached
to Form MGA-1 shall be the following exhibits, unless the insurer has obtained
an express waiver from the director:
1. A
copy of a fidelity bond for the protection of the insurer in the minimum amount
of one hundred thousand dollars ($100,000) with no deductible; and
2. A copy of the MGA's errors and omissions
liability policy in the minimum amounts of one hundred thousand dollars
($100,000) per occurrence or claim and one (1) million dollars aggregate;
and
(B) A duplicate copy
of the executed contract between the MGA and the insurer. Form MGA-2 (see
20 CSR 200-10.500
) is the form which must be used by all insurers domiciled in this state as the
contract. An insurer not domiciled in this state must also use Form MGA-2,
unless the insurer is domiciled in a state having a law substantially similar
to sections 375.147-375.153, RSMo and the insurer files a contract which
complies with the provisions of the MGAs Act.
*Original authority: 374.045, RSMo 1967, amended 1993, 1995 and 375.153, RSMo 1990.
Disclaimer: These regulations may not be the most recent version. Missouri may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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