Section 379.1861

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 379

Effective - 28 Aug 2023   

  379.1861.  Individual policy or certificate of insurance — delivery of — information to be included. — Lender-placed insurance shall be set forth in an individual policy or certificate of insurance.  A copy of the individual policy, certificate of insurance, or other evidence of insurance coverage shall be mailed, first class mailed, or delivered in person to the last known address of the mortgagor, or delivered in accordance with sections 432.200 to 432.295.  In addition to any information otherwise required by law, the individual policy or certificate of insurance coverage shall include the following information:

  (1)  The address and identification of the insured property;

  (2)  The coverage amount, or amounts if multiple coverages are provided;

  (3)  The effective date of the coverage;

  (4)  The term of coverage;

  (5)  The premium charge for the coverage;

  (6)  Contact information for filing a claim; and

  (7)  A complete description of the coverage provided.

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(L. 2023 S.B. 101)