Section 383.106

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 383

Effective - 28 Aug 2006   

  383.106.  Reporting standards — risk reporting categories — information compiled — report of rates. — 1.  To effectively monitor the insurance marketplace, rates, financial solvency, and affordability and availability of medical malpractice coverage, the director shall establish by rule or order reporting standards for insurers by which the insurers, or an advisory organization designated by the director, shall annually report such Missouri medical malpractice insurance premium, loss, exposure, and other information as the director may require.

  2.  The director shall, prior to May 30, 2007, establish risk reporting categories for medical malpractice insurance, as defined in section 383.150, and shall establish regulations for the reporting of all base rates and premiums charged in those categories as determined by the director.  The director shall consider the history of prior court judgments for claims under this chapter in each county of the state in establishing the risk reporting categories.

  3.  The director shall collect the information required in this section and compile it in a manner appropriate for assisting Missouri medical malpractice insurers in developing their future base rates, schedule rating, or individual risk rating factors and other aspects of their rating plans.  In compiling the information and making it available to Missouri insurers and the public, the director shall remove any individualized information that identifies a particular insurer as the source of the information.  The director may combine such information with similar information obtained through insurer examinations so as to cover periods of more than one year.

  4.  All insurers with regards to medical malpractice insurance as defined in section 383.150 shall provide to the director, beginning on June 1, 2008, and not less than annually thereafter, an accurate report as to the actual rates, including assessments levied against members, charged by such company for such insurance, for each of the risk reporting categories established under this section.

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(L. 2006 H.B. 1837)