PURPOSE: This rule implements and administers sections 375.147–375.153, RSMo, with regard to more clearly defining the requirement that an insurer “shall periodically conduct an on-site review” of its managing general agents under section 375.150(3), RSMo.

The requirement in section 375.150(3), RSMo that “the insurer shall periodically conduct an on-site review of the underwriting and claims processing operations of the managing general agent” will be deemed satisfied only if that review is conducted at least semiannually.

AUTHORITY: sections 374.045, RSMo 1986 and 375.153, RSMo Supp. 1990.* Original rule filed Nov. 3, 1992, effective May 6, 1993.

*Original authority: 374.045, RSMo 1967 and 375.153, RSMo 1990.