20 CSR 200-10.100
MGA Filing Requirements
PURPOSE: This rule implements and administers sections 375.147–375.153, RSMo
regarding MGA filing requirements.
(1) Insurer Filings. An insurer must file the
documents listed under 20 CSR 200-10.200
for appointment of a managing general agent
(MGA), if the insurer is—
(A) A foreign insurer holding a certificate
of authority to transact insurance business in
this state and has any person, firm, association, or corporation who with respect to any
risk or risks located in this state produces,
directly or indirectly, and underwrites an
amount of gross premium equal to or more
than five percent (5%) of the policyholder
surplus as reported in any one (1) quarter or
year together with one (1) or both of the following:
1. Adjusts or pays claims in excess of
one thousand dollars ($1,000) per claim or
five percent (5%) of the insurer’s policyholders’ surplus in the aggregate per year; or
2. Negotiates reinsurance on behalf of
the insurer; or
(B) Domiciled in this state and has any
person, firm, association, or corporation who
produces, directly or indirectly, and underwrites an amount of gross premium equal to
more than five percent (5%) of the policyholders’ surplus as reported in any one (1)
quarter or year together with one (1) or both
of the following:
1. Adjusts or pays claims in excess of
one thousand dollars ($1,000) per claim or
five percent (5%) of the insurer’s policyholders’ surplus in the aggregate per year; or
2. Negotiates reinsurance on behalf of
the insurer.
(2) Exceptions. The exceptions provided under
the definition of “managing general agent” in
section 375.147, RSMo apply to this rule.
AUTHORITY: sections 374.045 and 375.153,
RSMo 2016.* This rule was previously filed
as 4 CSR 190-11.340(1) and (2). Original
rule filed Jan. 22, 1991, effective July 8,
1991. Amended: Filed June 16, 1992, effective Feb. 26, 1993. Amended: Filed Aug. 29,
2003, effective Feb. 29, 2004. Amended:
Filed Dec. 13, 2018, effective July 30, 2019.
*Original authority: 374.045, RSMo 1967 amended 1993,
1995, 2008 and 375.153, RSMo 1990.