375.022. Registry of insurance producers maintained by insurer--termination of producer, insurer to notify director.
Registry of insurance producers maintained by insurer--terminationof producer, insurer to notify director.
375.022. 1. An insurer authorized to transact the business ofinsurance in this state shall maintain a register of appointed insuranceproducers who are authorized to sell, solicit or negotiate contracts ofinsurance on behalf of the insurer. Within thirty days of an insurerauthorizing an insurance producer to transact the business of insurance onits behalf, the insurer shall enter the name and license number of theinsurance producer in the company register of appointed insuranceproducers. No fee shall be charged for adding a producer to or terminatinga producer from the register.
2. An insurance producer shall not act on behalf of an insurer unlessthe insurance producer is listed on the company register of appointedinsurance producers authorized to sell, solicit or negotiate contracts ofinsurance on behalf of the insurer.
3. The company register of appointed insurance producers shall beopen to inspection and examination by the director during regular businesshours of the insurer.
4. The company register of appointed insurance producers may bemaintained electronically.
5. An insurer that terminates the appointment, employment, contractor other insurance business relationship with an insurance producer for oneof the reasons set forth in section 375.141 shall, within thirty daysfollowing the effective date of the termination, notify the director of thereason for termination. The insurer shall also update its company registerof appointed insurance producers by entering the effective date of thetermination within thirty days after the termination.
6. An insurer that terminates the appointment, employment, contractor other insurance business relationship with an insurance producer for anyreason not set forth in section 375.141 shall update its company registerof appointed insurance producers by entering the effective date of thetermination within thirty days after the termination.
7. The insurer shall promptly notify the director if, upon furtherreview or investigation, the insurer discovers additional information thatwould have been reportable to the director in accordance with subsection 1of this section had the insurer then known of its existence.
8. Any information filed by an insurance company or obtained by thedirector pursuant to this section and any document, record or statementrequired by the director pursuant to the provisions of this section shallbe deemed confidential and absolutely privileged. There shall be noliability on the part of, and no cause of action shall arise against, anyinsurer, its producers or its authorized investigative sources or thedirector or the director's authorized representatives in connection withany written notice required by the section made by them in good faith. Thedirector shall, upon written request by the producer, furnish to theproducer a copy of all information obtained pursuant to this section.
9. The director is authorized to use the documents, materials orother information in the furtherance of any regulatory or legal actionbrought as a part of the duties of the director.
10. Neither the director nor any person who received documents,materials or other information while acting under the authority of thedirector shall be permitted or required to testify in any private civilaction concerning any confidential documents, materials, or informationsubject to subsection 1 of this section.
11. In order to assist in the performance of the duties of thedirector pursuant to this section, the director:
(1) May share documents, materials or other information, includingthe confidential and privileged documents, materials or information subjectto subsection 5 of this section, with other state, federal, andinternational regulatory agencies, with the National Association ofInsurance Commissioners, its affiliates or subsidiaries, and with state,federal, and international law enforcement authorities, provided that therecipient agrees to maintain the confidentiality and privileged status ofthe document, material or other information; and
(2) May receive documents, materials or information, includingotherwise confidential and privileged documents, materials or information,from the National Association of Insurance Commissioners, its affiliates orsubsidiaries and from regulatory and law enforcement officials of otherforeign or domestic jurisdictions, and shall maintain as confidential orprivileged any document, material or information received with notice orthe understanding that it is confidential or privileged under the laws ofthe jurisdiction that is the source of the document, material orinformation.
12. No waiver of any applicable privilege or claim of confidentialityin the documents, materials, or information shall occur as a result ofdisclosure to the director pursuant to this section or as a result ofsharing as authorized in subsection 7 of this section.
13. Nothing in this chapter shall prohibit the director fromreleasing final, adjudicated actions including for cause terminations thatare open to public inspection pursuant to chapter 610, RSMo, to a databaseor other clearinghouse service maintained by the National Association ofInsurance Commissioners, its affiliates or subsidiaries of the NationalAssociation of Insurance Commissioners or any other like database orclearinghouse as deemed appropriate by the director.
14. If the director suspends, revokes, or refuses to issue or renew alicense pursuant to section 375.141, he or she shall provide public notice.
(L. 1967 p. 516, A.L. 1981 S.B. 10, A.L. 1991 H.B. 575, A.L. 1998 H.B. 1601, et al., A.L. 2000 S.B. 896, A.L. 2001 S.B. 193)Effective 1-01-03