2008 Insurance Bills Passed Into Law
SB 788: Department of Insurance
Codifies executive order bringing Finance, Professional Registration, Credit Unions and other regulatory divisions under the Department of Insurance and re-naming it as the Department of Insurance, Financial Institutions and Professional Registration.
SB 863: Income Tax for Educational Plans
Allows for deductibility from Missouri income tax up to $16,000 for married taxpayers contributing to Section 529 educational savings plans.
SB 907: Motor Fuel Storage Tanks and Equipment
Establishes the Petroleum Storage Tank Insurance Fund as a Type III state agency. Added aggregate limit of $2 million to coverage requirements, extended expiration date of the fund to 2010 and adjusted the fees for participation in the fund.
HB 1690: Auto Renewal Notices
Allows insurers to make web-based rate and form filings and authorized insurers to send auto renewal notices electronically so long as the policyholder "opts-in" and requests that renewal notices be sent in such a manner.
HB 1883: Employment Practices
A bill dealing with employment practices, included a provision relating to workers' compensation to abrogate the Missouri Supreme Court "Schoemehl" decision by specifying that the right for workers' compensation benefits terminates upon an injured employee's death.