Current through Register Vol. 49, No. 6, March 15, 2024
PURPOSE: This proposed amendment updates and
modernizes the rule.
PURPOSE: This rule interprets section
375.1730,
RSMo, and sets forth the types of cost data to be reported to the department
from insurers issuing coverage for dram shop liquor liability and provides for
the form referred to in section (3) of this rule to be available on the
department's website.
(1)
Definitions. When used in this regulation-
(A) Costs associated with coverage means
those expenses and fees incurred by insurers relating to dram shop liability
coverage that are to be reported to the director as outlined in the data
reporting form required by section (2) of this regulation;
(B) Data elements include premium written and
earned, losses paid and incurred, exposures, loss adjustment expenses and
defense costs, and other administrative and underwriting expenses included on
the statutory state page of the annual statement;
(C) Director means the director of the
Department of Insurance;
(D) Dram
shop liability coverage means property and casualty liability insurance
covering risk associated with commercial vendors licensed to sell intoxicating
liquor by the drink for consumption on the premises; and
(E) Insurer means every insurance company
authorized to transact insurance business in this state, every unauthorized
insurance company transacting business pursuant to Chapter 384, RSMo, every
risk retention group, every insurance company issuing insurance to or through a
purchasing group, and any other person providing insurance coverage in this
state.
(2) Report.
(A) Every insurer providing dram shop
liability coverage within the state shall submit to the director a report of
all costs associated with coverage of its dram shop liability policies during
the preceding year.
(B) The initial
report is to be in writing and shall be made to the director by April 30, 2003,
for the twelve (12) months ending December 31, 2002, on the form provided by
the department. Every subsequent report is also to be in writing and shall be
made to the director annually on or before March 31 of each year beginning
March 31, 2004, for the twelve (12) months ending December 31 next preceding on
the form provided by the department.
(3) Forms. The data reporting form referenced
in section (2) of this regulation can be accessed at the department's
website.
*Original authority: 374.045, RSMo 1967, amended 1993,
1995; 375.1730, RSMo 2002; and 536.016, RSMo 1997, amended
1999.
