20 CSR 500-1.210 - Commercial Inland Marine Insurance
(1) For
purposes of this rule, the term "commercial inland marine insurance" shall mean
inland marine insurance which is for business and professional interests,
whether for profit, nonprofit or public in nature, which is not for personal,
family or household purposes, and which, by regulation or general custom of the
business, is in fact written according to manual rates or rating
plans.
(2) Commercial inland marine
insurance shall be regulated by the Missouri Department of Commerce and
Insurance in the same manner as commercial property insurance.
(3) The rates, rate plans, modifications, and
manuals of classifications for those inland marine coverages that either are
not or have not been written according to manual rates or rating plans, need
not be filed with the Missouri Department of Commerce and Insurance. However,
if rates or rating plans have been filed with the department in the past for a
particular type of inland marine insurance, by an insurer, a rating
organization, an advisory organization or a joint underwriting association,
then it will be presumed that such business is in fact, by regulation or
general custom, written according to manual rates or rating plans, and that
therefore, the rates and forms for that particular type of inland marine
coverage need to be filed with the department, under the provisions of either
subsection 1 of section
379.321, RSMo for personal
inland marine coverage or under the provisions of subsection 6 of section
379.321, RSMo for commercial
inland marine coverage. However, an insurer may present argument and evidence
to the department to rebut this presumption, and if rebuted, obviate the need
for a filing.
Notes
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