MO SB59

Increases the maximum annual assessment cap for member insurers from one percent to two percent of net direct written premiums for property and casualty insurance covered claims.

Modifies board vacancy procedures for the property and casualty association, allowing vacancies to be filled by majority vote of remaining board members instead of director appointment.

Expands coverage limits and benefits for life and health insurance guaranty association members placed under rehabilitation or liquidation orders on or after August 28, 2013, including increases for disability insurance, long-term care insurance, and basic medical insurance.

Establishes separate benefit limits for structured settlement annuities at $250,000 per payee in the life and health insurance association.

Removes language requiring director appointment of initial board members if selections are not made within 60 days for the property and casualty association.