Missouri Laws 379.883 – Policy cancellation or nonrenewal requirement of sixty days prior to ..
1. No notice of cancellation of a commercial casualty insurance policy shall be effective unless prior written notice of the cancellation is mailed or delivered by the insurer to the named insured at least sixty days prior to the effective date of the cancellation, except where the cancellation is based on one or more of the following reasons:
(1) Nonpayment of premium;
Terms Used In Missouri Laws 379.883
- following: when used by way of reference to any section of the statutes, mean the section next preceding or next following that in which the reference is made, unless some other section is expressly designated in the reference. See Missouri Laws 1.020
- Fraud: Intentional deception resulting in injury to another.
- State: when applied to any of the United States, includes the District of Columbia and the territories, and the words "United States" includes such district and territories. See Missouri Laws 1.020
(2) Fraud or material misrepresentation affecting the policy or in the presentation of a claim thereunder or a violation of any of the terms or conditions of a policy;
(3) Changes in conditions after the effective date of the policy which have materially increased the hazards originally insured;
(4) Insolvency of the insurer; or
(5) The insurer involuntarily loses reinsurance for the policy.
2. No notice of nonrenewal of a commercial casualty insurance policy shall be effective unless mailed or delivered by the insurer to the named insured at least sixty days prior to the effective date of the nonrenewal.
3. Notice of cancellation or nonrenewal of a commercial casualty insurance policy shall state the insurer’s actual reason for proposing the action, the statement of reason to be sufficiently clear and specific so that the recipient can identify the basis of the insurer’s decision without further inquiry. An assignment or transfer of a commercial casualty insurance policy among affiliated insurers within an insurance holding company system is not a cancellation or nonrenewal for purposes of sections 379.882 to 379.895.