MO SB304

Adds section 375.1183 to Missouri law governing life and health reinsurance contracts when a ceding insurer enters conservation, rehabilitation, or liquidation proceedings.

Allows guaranty associations to elect within 180 days of a liquidation order to assume rights and obligations under reinsurance contracts covering policies they guarantee, with written notice to reinsurers.

Requires the guaranty association to pay all unpaid premiums for periods before and after the coverage date and to perform post-coverage obligations, while remaining entitled to reinsurance proceeds for covered policies.

Establishes procedures for calculating net balances due between guaranty associations and reinsurers within 30 days of assumption, with disputes resolved through arbitration under contract terms or statutory procedures.

Sets mandatory negotiation and arbitration procedures for terminated reinsurance contracts, requiring each party to appoint an actuary and, if no agreement is reached within 90 days, submit to binding arbitration before a three-member panel with experience in life insurance or reinsurance.