Bill > HB3314

This bill modifies existing Missouri law to allow the Director of the Department of Commerce and Insurance (DCI) to share confidential and privileged information, including proprietary and trade secret documents, with the Missouri Property and Casualty Insurance Guaranty Association and the Missouri Life and Health Insurance Guaranty Association. This sharing is permitted when the DCI believes a member insurer, which is an insurance company licensed in Missouri, might face a future "delinquency proceeding" (a legal process for dealing with financially troubled insurers, often leading to liquidation). The purpose of this information sharing is to enable these guaranty associations to prepare for a potential insolvency of a member insurer, ensuring they can manage claims and policyholder protection effectively. The bill specifies that this information must be kept confidential by the guaranty associations, with access limited to their staff and legal counsel, and that the board of directors of a guaranty association can access the information once a delinquency proceeding is formally initiated against the insurer. The bill also allows for similar information sharing with guaranty associations in other states and with organizations representing multiple state associations, provided they also agree to maintain confidentiality and use the information for preparation purposes. This provision aims to streamline the process and minimize delays in handling claims if an insurer becomes insolvent.

https://house.mo.gov/Bill.aspx?bill=HB3314&year=2026&code=R