Advisory organization not to file rates on behalf of insurer, exception
An advisory organization is a group that helps insurance companies with rate information. This law says that such a group cannot make recommendations about rates that include business expenses (other than costs for handling claims) or profit. The group also cannot submit rate paperwork to the government on behalf of an insurance company, unless another specific law allows it.
287.970. not to file rates on behalf of , . — In addition to other prohibitions contained in sections 287.930 to 287.975, except as specifically permitted under section 287.972, the advisory organization shall not:
(1) Compile or recommendations relating to rates that include expenses, other than , or profit; or
(2) File rates, or on behalf of an insurer.
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Source & history notes
(L. 1993 S.B. 251 § 33) Effective 1-01-94
Related Missouri laws
Advisory organization's permitted activities
RSMo 287.972
Advisory organization must obtain license, restrictions
RSMo 287.967
Pure premium rate, schedule of rates, filed with director, when
RSMo 287.975
Aggrieved party may file application with director, hearing held, when
RSMo 287.965
Hearings, when, conduct of
RSMo 287.962
Disapproval of rate, when, how
RSMo 287.960
Legal information, not legal advice. Always confirm with the official source at revisor.mo.gov.