Missouri Code of State Regulations
Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE
Division 500 - Property and Casualty
Chapter 2 - Automobile Insurance
Section 20 CSR 500-2.600 - Rate Increases
Current through Register Vol. 49, No. 6, March 15, 2024
PURPOSE: This regulation specifies one form of unfair discrimination in modification of rates applicable to policies of automobile insurance where the claim under the policy is not due to the fault of the operator. This regulation was adopted pursuant to provisions of section 374.045 and implements section 379.470, RSMo.
(1) Rate Modification Prohibited. Any rating plan or rating system shall be considered unfairly discriminatory within the meaning of section 379.470, RSMo if the rating plan or rating system increases the insured's automobile insurance premium as a result of an accident for which a claim is made upon the insured's policy under the following circumstances:
(2) Any premium notice sent by an insurer which increases the premium payable under policies of automobile insurance as a result of accident claims made under these policies shall be accompanied by a notice which shall specifically state the reasons for the increase in premiums and the percentage or dollar amount of this increase which is applicable to accident claims made under these policies. All these notices as required shall be submitted to this department prior to their use in this state to assure compliance with this regulation.
(3) In no event shall an insurer request an increase in premium from any insured in connection with any claim arising out of any accident for which the insured was not at fault. In connection with any accident caused by the insured, an insurer may request an increase in premium as a result of payment by an insurer to or on behalf of the insured in settlement of any claim made by or against the insured.
*Original authority: 374.045, RSMo 1967, amended 1993, 1995 and 379.470, RSMo 1947.