HB 1903 -- REINSURANCE (Liese)

This bill revises the method in which reinsurance is allowed to
be counted as an asset or deduction from liability.  The bill
requires the assets of any foreign insurer or reinsurer which are
used as security for insurance or reinsurance to be maintained
within the United States.  The bill exempts from the "vexatious
refusal to pay" statute any lawsuits arising out of a contract of
reinsurance made by a ceding insurer against an assuming insurer.

FISCAL NOTE:  No impact on state funds.

Missouri House of Representatives
Last Updated October 11, 2002 at 9:02 am