Section 379.195

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 379

Effective - 28 Aug 1939   

  379.195.  Accident insurance liability fixed, when — cancellation prohibited. — 1.  In respect to every contract of insurance made between an insurance company, person, firm or association, whether a stock, a mutual, a reciprocal or other company, association or organization, and any person, firm or corporation, by which such person, firm or corporation is insured against loss or damage on account of the bodily injury or death or damage to property by accident of any person, for which loss or damage such person, firm or corporation is responsible, whenever a loss occurs on account of a casualty covered by such contract of insurance, the liability of the insurance company, if liability there be, shall become absolute, and the payment of said loss shall not depend upon the satisfaction by the assured of a final judgment against him for loss, or damage, or death, or if the insured becomes insolvent or discharged in bankruptcy during the period that the policy is in operation or any part is due or unpaid, occasioned by said casualty.

  2.  No such contract of insurance shall be cancelled or annulled by any agreement between the insurance company and the assured after the said assured has become responsible for such loss or damage, and any such cancellation or annulment shall be void.

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(RSMo 1939 § 6009)

Prior revision: 1929 § 5898

CROSS REFERENCE:

Claimant and tort-feasor may contract to limit recovery to amount covered by specific insurer, 537.065

(1957) Oral agreement to provide insurance from March 31, 1955, held not merged in policy issued to cover period beginning April 19, 1955, where such policy was not accepted and such oral contract could not be modified after a loss. Am.  Surety Co. of N.Y. v. Williford, 243 F.2d 494.

(1964) In action by injured party against the insurer, after judgment has been obtained by the injured party against insured, the injured party stands in shoes of insured and his rights are no greater and no less than insured's would have been in action against insurer had insured paid the judgment to injured party. Meyers v. Smith (Mo.), 375 S.W.2d 9.