Missouri Code of State Regulations
Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE
Division 500 - Property and Casualty
Chapter 1 - Property and Casualty Insurance in General
Section 20 CSR 500-1.600 - Arbitration Provision
Current through Register Vol. 49, No. 6, March 15, 2024
PURPOSE: This regulation precludes insurers from issuing property and casualty insurance policies containing compulsory arbitration provisions. This regulation was adopted pursuant to the provisions of sections 374.045, 379.203 and 435.010, RSMo.
(1) Any contract or agreement entered into containing any clause or provision providing for an adjustment by arbitration shall not preclude any party or beneficiary under the contract or agreement from instituting suit or legal action on the contract at any time and the compliance with the clause or provision shall not be a condition precedent to the right to bring or recover in the action. A party is bound by an arbitration provision only when s/he elects to arbitrate and a lawful and binding arbitration follows.
(2) No automobile policy written shall contain an arbitration clause applicable to disputed claims under uninsured motorist coverage and any provision to the contrary shall be void and of no effect as of August 22, 1974.
*Original authority: 374.045, RSMo 1967, amended 1993 and 379.203, RSMo 1967, amended 1971, 1972, 1982, 1991.
