Commercial Inland Marine Insurance

PURPOSE: This rule defines the term “commercial inland marine insurance” as used in section 379.321, RSMo. (1) For purposes of this rule, the term “commercial inland marine insurance” shall mean inland marine insurance which is for business and professional interests, whether for profit, nonprofit or public in nature, which is not for personal, family or household purposes, and which, by regulation or general custom of the business, is in fact written according to manual rates or rating plans. (2) Commercial inland marine insurance shall be regulated by the Missouri Department of Commerce and Insurance in the same manner as commercial property insurance. (3) The rates, rate plans, modifications, and manuals of classifications for those inland marine coverages that either are not or have not been written according to manual rates or rating plans, need not be filed with the Missouri Department of Commerce and Insurance. However, if rates or rating plans have been filed with the department in the past for a particular type of inland marine insurance, by an insurer, a rating organization, an advisory organization or a joint underwriting association, then it will be presumed that such business is in fact, by regulation or general custom, written according to manual rates or rating plans, and that therefore, the rates and forms for that particular type of inland marine coverage need to be filed with the department, under the provisions of either subsection 1 of section 379.321, RSMo for personal inland marine coverage or under the provisions of subsection 6 of section 379.321, RSMo for commercial inland marine coverage. However, an insurer may present argument and evidence to the department to rebut this presumption, and if rebuted, obviate the need for a filing. AUTHORITY: sections 374.045, RSMo 2000 and 379.321, RSMo Supp. 2002.* Original rule filed Nov. 1, 2002, effective July 30, 2003. Non-substantive change filed Sept. 11, 2019, published Oct. 31, 2019. *Original authority: 374.045, RSMo 1967, amended 1993, 1995 and 379.321, RSMo 1972, amended 1999, 2001, 2002.