Filings Required Within Thirty Days of Appointment of an MGA

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. AUTHORITY: sections 374.045 and 375.153, RSMo Supp. 2000.* This rule was previously filed as 4 CSR 190-11.340(3). Original rule filed Jan. 22, 1991, effective July 8, 1991. Amended: Filed Nov. 3, 1992, effective May 5, 1993. Amended: Filed July 12, 2002, effective Jan. 30, 2003. *Original authority: 374.045, RSMo 1967, amended 1993, 1995 and 375.153, RSMo 1990.