Section 303.200

Title XIX MOTOR VEHICLES, WATERCRAFT AND AVIATION

Chapter 303

Effective - 28 Aug 2012, 4 histories, see footnote   (history) 

  303.200.  Approval of plan for apportionment of substandard insurance risks. — After consultation with insurance companies authorized to issue automobile liability policies in this state, the director of the department of insurance, financial institutions and professional registration shall approve a reasonable plan or plans for the equitable apportionment among such companies of applicants for such policies and for motor vehicle liability policies who are in good faith entitled to but are unable to procure such policies through ordinary methods. When any such plan has been approved, all such insurance companies shall subscribe thereto and participate therein. Any such plan shall contract with an entity or entities to accept and service applicants and policies for any company that does not elect to accept and service applicants and policies. By October first of each year any company that elects to accept and service applicants and policies for the next calendar year for any such plan shall so notify the plan. Any company that does not so notify a plan shall be excused from* accepting and servicing applicants and policies for the next calendar year for such plan and shall pay a fee to the plan or servicing entity for providing such services. The fee shall be based on the company's market share on the kinds of insurance offered by the plan. Any applicant for any such policy, any person insured under any such plan, and any insurance company affected may appeal to the director from any ruling or decision of the manager or committee designated to operate such plan. Any person aggrieved hereunder by any order or act of the director may, within ten days after notice thereof, file a petition in the circuit court of the county of Cole for a review thereof. The court shall summarily hear the petition and may make any appropriate order or decree.

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(L. 1953 p. 569 § 303.350, A.L. 2012 H.B. 1402 merged with S.B. 470 merged with S.B. 480)

*Word "form" appears in original rolls of S.B. 480, 2012, an apparent typographical error.