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Current as of January 01, 2025 | Updated by Findlaw Staff
1. No insurer may cancel, terminate or otherwise withdraw coverage for a certain class of commercial risk, unless written notice of such cancellation, termination, or withdrawal is given to the insurer's independent insurance producer authorized to sell such insurance coverage at least sixty days prior to such cancellation, termination or withdrawal.
2. The provisions of subsection 1 of this section shall not apply if the cancellation, termination or withdrawal of coverage by an insurer is by reason of reinsurance requirements, adverse loss experience, or by the requirement of the Missouri department of commerce and insurance. In these circumstances, the notice described in subsection 1 of this section shall be given at least thirty days prior to such cancellation, termination or withdrawal.
Cite this article: FindLaw.com - Missouri Revised Statutes Title XXIV. Business and Financial Institutions § 375.039. Commercial risks, certain class, cancellation, written notice to agent required, when - last updated January 01, 2025 | https://codes.findlaw.com/mo/title-xxiv-business-and-financial-institutions/mo-rev-st-375-039/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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