MO HB1904

Expands coverage to include structured settlement annuities with specific eligibility criteria based on payee residency and contract owner domicile

Increases benefit limits for insurers placed under rehabilitation or liquidation on or after August 28, 2010, including up to $500,000 for basic hospital/medical/surgical insurance and $250,000 for annuity benefits

Adds new exclusions from coverage including unallocated annuity contracts, Medicare Part C & D policies, obligations not arising from express written policy terms, and extra-contractual claims

Clarifies association powers to handle impaired and insolvent insurers, including authority to provide substitute coverage, assume policies, and pursue subrogation rights

Modifies assessment procedures by allowing Class A and Class B assessments to be "may" rather than "shall," and adds limitations on aggregate assessments when multiple insurers become impaired in different calendar years