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Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

  Chapter 383back to chapter 383

  383.062.  Reports of real estate malpractice, contents. — 1.  Every insurer providing real estate malpractice insurance to persons, corporations, copartnerships or associations licensed under the provisions of chapter 339 and all employees of the foregoing acting in the course and scope of their employment shall submit a confidential report to the director on January first of each year containing all claims for real estate malpractice made against any of its insureds during the preceding twelve-month period.

  2.  The report shall be in writing and on a form prescribed by the director.  One form shall be completed for each claim and the form shall contain the following information relating to each claim:

  (1)  The insurer's claim number;

  (2)  The city population where the claim was made;

  (3)  How many real estate brokers and agents are insured under the policy;

  (4)  How many years the insured had been licensed at the time of the alleged act or omission;

  (5)  The type of real estate office or entity of which the insured is a member;

  (6)  The relationship of the insured to the claimant;

  (7)  Whether the claim arose after the insured made an attempt to collect a fee;

  (8)  The month and year of the occurrence on which the claim was based;

  (9)  The month and year when the claim was first reported to the insurer;

  (10)  The alleged act or omission which was the most significantly related to the cause of the claim being made;

  (11)  The reserve established for loss payment;

  (12)  The reserve established for loss expenses; and

  (13)  The amount of the insured's deductible.

  3.  The insurer shall, within six months of final disposition of the claim, report to the director the final outcome of the claim including any payments made.

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(L. 1986 H.B. 1393 § 2)


< end of effective 28 Aug 1986 >

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