HB 804 -- Insurance Examination Expenses

Sponsor:  Richard

This bill limits the expenses that insurance companies must pay
for examinations by the Department of Insurance.  Current law
allows the Director of the Department of Insurance to assess the
expenses of each insurer for the examination of that insurer.
The bill limits this assessment to the direct expenses incurred
by the examiners.  The department must provide an itemized report
of expenses which includes the rate of pay for each examiner and
the amount of time spent by each examiner.  The itemized reports
must be verified by the insurance company before the department
can issue the assessment.

The bill changes the additional assessment, for examiner support
staff, from 15% to 5% of the total expenses assessed.

The bill also limits the reimbursement of department employees to
either 80% of the federal per diem rate or the actual travel
expenses incurred in conducting the examinations, whichever is
less.

Missouri House of Representatives
92nd General Assembly, 2nd Regular Session
Last Updated September 23, 2004 at 11:13 am