SPONSOR: Coleman (32)
COMMITTEE ACTION: Voted "Do Pass with HCS" by the Standing Committee on Insurance by a vote of 11 to 0. Voted "Do Pass" by the Standing Committee on Rules- Legislative Oversight by a vote of 11 to 0.
The following is a summary of the House Committee Substitute for HB 629.
This bill sets forth the requirements for group personal lines property and casualty insurance master policies. All eligible employees of an employer and members of a labor union or similar employee organization shall be eligible to participate unless such person rejects the coverage in writing. The master policy will be issued to the policyholder and all covered employees or members will receive a certificate of coverage setting forth a statement as to the insurance protection to which they are entitled. No master policy or certificate of insurance shall be issued or delivered in this state unless the rating plan and amendments thereto used in the determination of the master policy premium meet the applicable filing requirements in this state and the rates shall not be unfairly discriminatory if adjusted to reflect past and prospective loss experience or group expense factors.
The bill addresses policy coverage requirements, group rating requirements, the duties and limitations of insurers, solicitation, negotiation, conversion, and regulatory jurisdiction.
These provisions shall not apply to the mass marketing or any other type of marketing of individual personal lines property and casualty insurance policies, to policies of credit property or credit casualty insurance or to policies of personal automobile insurance or personal motor vehicle liability insurance.
This bill has an effective date of January 1, 2022 and any master policy that is currently in effect on that date has 12 months to comply with these provisions.
This bill is the same as HB 2085 (2020).
The following is a summary of the public testimony from the committee hearing. The testimony was based on the introduced version of the bill.
PROPONENTS: Supporters say that the bill will allow group personal lines on the property and casualty side and allow employees to get rates through a group created by their employer and consumers will be able to get cheaper insurance rates. This will make Missouri consistent with other states who have this model act.
Testifying for the bill were Representative Coleman; and the Missouri Insurance Coalition.
OPPONENTS: There was no opposition voiced to the committee.
This bill is the same as HB 2085 (2020).
Written testimony has been submitted for this bill. The full written testimony can be found under Testimony on the bill page on the House website.
Statutes affected: