MO SB132

Repeals and reenacts provisions governing surplus lines insurance, portable electronics insurance, motor vehicle extended service contracts, and retaliatory taxes on insurance companies.

Establishes licensing and regulatory framework for portable electronics insurance, including vendor licenses (initial fee up to $1,000, renewal fee up to $500), required brochures disclosing coverage details, and supervising business entity oversight.

Modifies surplus lines insurance tax from net premiums on risks located in Missouri to gross premiums for policies where insured's home state is Missouri, aligning with federal Nonadmitted and Reinsurance Reform Act of 2010.

Creates motor vehicle extended service contract producer licensing requirements, including business entity and individual producer licenses (fees up to $100 for entities, $25 for individuals), with mandatory free-look periods of 20 business days or contract execution date.

Provides emergency effective date for surplus lines insurance provisions upon passage and approval; portable electronics insurance and service contract provisions effective January 1, 2012.