PURPOSE: This regulation establishes the standard fire insurance policy for Missouri. This regulation was adopted pursuant to the provision of sections 379.150, 379.160 and 379.840, RSMo 1986.

Editor’s Note: The secretary of state has determined that the publication of this rule in its entirety would be unduly cumbersome or expensive. The entire text of the material referenced has been filed with the secretary of state. This material may be found at the Office of the Secretary of State or at the headquarters of the agency and is available to any interested person at a cost established by state law.

1. (1) Policy Form Requirements.

   1. (A) The standard fire insurance policy for use by any insuring organization in Missouri is declared to be the 1943 “Standard Fire Insurance Policy of the State of New York,” which is incorporated herein by reference with those changes expressed in this regulation, having been so declared for use in Missouri effective July 1, 1944, with subsequent modification as approved in writing by the director. Any such policy must be clearly designated the “Standard Fire Insurance Policy for Missouri,” although any other state or territory in which this form is standard may be listed before or after the word “Missouri” in this designation.
   2. (B) In order to encourage readability in insurance policy forms, the director may approve fire insurance policy forms other than the standard fire insurance policy which otherwise meet all requirements of law and are at least as favorable to the insured as the standard fire insurance policy.

2. (2) Mandated Changes to Standard Fire Policy.

   1. (A) These provisions shall apply to all fire insurance policies issued or renewed pursuant to sections 375.001–375.008, 379.160 and 379.810–379.880, RSMo after August 7, 1964:

      1. 1. That portion of the 1943 Standard

Fire Insurance Policy for New York which gives “the insured five (5) days’ written notice of cancellation” on line 62 of the policy form shall be given no effect where contained within a policy designated as the “Standard Fire Insurance Policy for Missouri” insuring property located in this state, except as stated in paragraph (2)(A)2. of this regulation.

1. 2. The language in the 1943 Standard

Fire Insurance Policy for New York contained in lines 60–67 shall be superseded with the following language printed anywhere on this policy or amendatory endorsement: “This policy may be canceled, not renewed, reduced in amount or adversely modified at any time by the company by giving to the insured thirty (30) days’ written notice of such action with or without tender of the excess of paid premium above the pro rata premium for the expired time, which excess, if not tendered, shall be refunded on demand. Only ten (10) days notice is required where such action is based upon non-payment of premium or evidence of incendiarism by the insured.”

1. 3. The language in lines 141–147 of the

1943 Standard Fire Insurance Policy for New York relating to “company’s options” shall be superseded by the following or equivalent language: “Upon partial destruction or damage to insured property, this company shall pay the insured a sum of money equal to the damage done or repair the same to the extent of such damage, not exceeding the amount written in the policy, so that said property shall be in as good condition as before the fire, at the option of the insured, pursuant to section 379.150, RSMo (1986).”

1. 4. The language in lines 123–140 of the

1943 Standard Fire Insurance Policy of New York relating to “appraisal” shall be superseded by the following or equivalent language: “In case the insured and this company shall fail to agree as to the actual cash value or the amount of loss, then, on the written demand of either, each shall select a competent and disinterested appraiser and notify the other of the appraiser selected within twenty days of such demand. The appraisers shall first select a competent and disinterested umpire; and failing for fifteen days to agree upon such umpire, then, on request of the insured or this company, such umpire shall be selected by a judge of a court of record in the state and county (or city if the city is not within a county) in which the property covered is located. The appraisers shall then appraise the loss, stating separately actual cash value and loss to each item; and, failing to agree, shall submit their differences, only, to the umpire. The umpire shall make the award within thirty days after the umpire receives the appraisers’ submissions of their differences. An award in writing, so itemized, of any two when filed with this compa- 20 CSR 500-1

ny shall determine the amount of actual cash value and loss. Each appraiser shall be paid by the party selecting such appraiser and the expenses of appraisal and umpire shall be paid by the parties equally.”

1. (B) The language required in section (2) must be printed upon any insurance policies filed for use in Missouri after July 1, 1999. All policy forms filed prior to July 1, 1999, may be amended by endorsement not later than January 1, 2000, to comply with this regulation.

1. (3) Cancellation.

   1. (A) Any notice of cancellation, nonrenewal, reduction in amount or adverse modification must state the following:

      1. 1. That the insured may contact his/her

agent or broker for coverage;

1. 2. The name, address and telephone

number of the Missouri Property Insurance Placement Facility;

1. 3. The reason for cancellation, nonre-

newal, reduction in amount or adverse modification; and

1. 4. That any excess premium not ten-

dered must be refunded within thirty (30) days of this notice. Exhibit A contains a model notice which may be varied if the required information is equally prominent in any substitute form of notice.

1. (4) Reciprocal or Interinsurance Exchanges.

   1. (A) All fire insurance policies written by reciprocal and interinsurance exchanges shall be subject to the requirement of section (3) of this regulation.

   2. (B) Any policy issued by a reciprocal or interinsurance exchange shall state—

      1. 1. Whether or not the policy is assess-

able for contingent liabilities; and

1. 2. The subscriber’s rights, if any, to par-

ticipation in the earnings or surplus of the exchange.

1. (C) A copy of the subscriber’s agreement with the attorney-in-fact for the exchange shall be attached to the policy or application for coverage.

AUTHORITY: sections 374.045, RSMo Supp. 1997 and 379.150, 379.160 and 379.840, RSMo 1994.* This rule was previously filed as 4 CSR 190-16.060. This version of rule filed July 27, 1964, effective Aug. 7, 1964. Amended: Filed June 12, 1970, effective July 1, 1970. Amended: Filed Dec. 23, 1975, effective Jan. 2, 1976. Amended: Filed Feb. 10, 1978, effective June 11, 1978. Amended: Filed March 16, 1988, effective June 13, 1988. Amended: Filed Dec. 15, 1998, effective July 30, 1999. *Original authority: 374.045, RSMo 1967, amended 1993, 1995; 379.150, RSMo 1939; 379.160, RSMo 1939, amended 1957, 1963; and 379.840, RSMo 1969. EXHIBIT A COMPANY LETTERHEAD Policy Number(s)______________________ Expiration Date _______________________ Insured Premises Location_______________ This is our office notice that the coverages afforded by the above-numbered policies will be: (cid:1) Cancelled (cid:1) Not Renewed (cid:1) Reduced in Amount (cid:1) Adversely Modified as Follows: EFFECTIVE: 12:01 A.M. ON THE ______ DAY OF _____________, 19______ SPECIFIC REASON FOR TAKING ACTION SHOWN ABOVE: ____________________________________ ____________________________________ ____________________________________ If you wish to secure coverages from another insurance carrier, contact your agent or broker immediately. You or your agent may also apply to the Missouri Property Insurance Placement Facility for insurance coverages. Application may be made by mail or in person to the following address: MISSOURI PROPERTY INSURANCE PLACEMENT FACILITY 906 Olive Street, Suite 1000 St. Louis, Missouri 63101 Phone (314) 421-0170 Any excess premium must be refunded within thirty (30) days. Yours truly, cc: Agent cc: Mortgagee