MO HB1361

Establishes "domestic surplus lines insurers" as nonadmitted insurers domiciled in Missouri that must have at least $20 million in policyholder surplus, board approval, and director authorization to operate.

Allows surplus lines licensees to place insurance with domestic surplus lines insurers without satisfying the requirement that coverage be unobtainable from admitted insurers.

Exempts exempt commercial purchasers (those with specific financial thresholds or risk manager employment) from due diligence requirements when seeking nonadmitted insurance, provided written disclosure and request are made.

Subjects domestic surplus lines insurers to surplus lines premium taxes and solvency requirements of admitted insurers, but exempts them from rating plans, policy forms, cancellation rules, and insurance guarantee association protections.

Removes authorization requirement that nonadmitted insurers be authorized to write specific insurance types in their domiciliary jurisdiction and establishes minimum capital/surplus standards of $15 million or the state minimum, whichever is greater.