MO HB1183

Requires Missouri insurers to maintain a risk management framework and conduct annual own risk and solvency assessments (ORSA) to identify and evaluate material risks and capital adequacy, consistent with the National Association of Insurance Commissioners (NAIC) guidance manual.

Exempts insurers with less than $500 million in annual direct written and unaffiliated assumed premium and insurance groups with less than $1 billion in such premium from ORSA requirements, though director may require assessments for troubled insurers or in unique circumstances.

Designates ORSA summary reports as confidential documents not subject to public disclosure, subpoena, or discovery in private civil actions, with exceptions allowing director to use reports for regulatory duties and share with other regulators and the NAIC under written confidentiality agreements.

Requires insurers or their insurance groups to submit ORSA summary reports to the director upon request no more than once annually, with signature attestation from the chief risk officer, and allows submission of comparable reports previously filed in other states.

Establishes enforcement through level two violations for insurers failing without just cause to timely file required reports, with effective date of January 1, 2015.