MO SB302

Repeals and replaces sections 383.015, 383.016, 383.035, 383.037, and 383.206 relating to medical malpractice insurance associations, establishing new definitions and requirements for assessable associations.

Requires assessable associations operating before August 28, 2011 to comply with amended requirements within 180 days or face suspension of certificate of authority or cease and desist orders.

Establishes minimum policyholder surplus requirements of $600,000, with phased compliance for existing associations: $200,000 by December 31, 2011; $400,000 by December 31, 2012; and $600,000 by December 31, 2013.

Imposes premium-to-surplus ratio limits of no more than 3:1 (with phased increases for existing associations: 4:1 in 2011, 3.5:1 in 2012), subject to director approval.

Restricts special assessments on former members to apply only within five years of coverage termination and replaces "compelling evidence" standard with "substantial evidence" for director determinations on excessive or inadequate insurance rates.