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HB 1361 - This act regulates domestic surplus lines insurers which are nonadmitted insurers who are domiciled in Missouri and meet certain conditions to sell types of insurance not provided by admitted insurers. Domestic surplus lines insurers may write any type of policy that a nonadmitted insurer not domiciled in Missouri may write. They are subject to taxes on surplus lines policies Section 384.059, but will not be subject to other taxes levied on admitted insurers. These policies are not subject to the Missouri Property and Casualty Insurance Guarantee Act or the Missouri Life and Health Insurance Guarantee Association Act. Surplus lines insurers are subject to the same financial solvency requirements as domestic admitted insurers unless specifically exempted. MICHELA BIRK
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