MO HB50

Repeals 14 sections and enacts 29 new sections of Missouri RSMo Chapter 382 relating to insurance holding company systems and regulation

Adds "enterprise risk" definition covering activities that could materially adversely affect an insurer's financial condition or liquidity, including risks that would cause risk-based capital to fall to company action level

Requires controlling persons divesting interest in domestic insurers to file confidential notice with the director at least 30 days prior to cessation of control

Establishes Own Risk and Solvency Assessment (ORSA) requirements effective January 1, 2016, mandating annual risk assessments for insurers with direct written premium of $500 million or more, or insurance groups with $1 billion or more

Expands director's authority to examine insurers and affiliates to assess enterprise risk, participate in supervisory colleges for insurers with international operations, and share confidential information with other state, federal, and international regulatory agencies