MO HB525

Allows guaranty associations to assume reinsurance contracts covering life and health insurance policies within 180 days of a ceding insurer being placed in liquidation, effective retroactively to the liquidation date.

Requires receivers and reinsurers to make available copies of in-force reinsurance contracts, related files, and notices of defaults to affected guaranty associations to facilitate assumption decisions.

Guaranty associations assuming reinsurance contracts become responsible for unpaid premiums before and after liquidation and receive reinsurance proceeds for covered policies, with obligations to pass excess amounts to policyholders.

Establishes mandatory negotiation and arbitration procedures when reinsurance contracts are terminated, requiring each party to appoint actuaries to calculate settlement amounts based on economic equivalence.

Specifies that reinsurers cannot terminate contracts for unpaid premiums if guaranty associations or receivers pay those premiums within 60 days of assuming the contract, and clarifies the provision does not apply to property or casualty reinsurance.