MO SB362

Authorizes the Director of Insurance to issue "bulletins" as informal written communications to educate the insurance industry and public on regulatory topics, which do not have the force of law and are not binding on the department or insurers.

Creates a "no-action letter" process allowing insurers to request written confirmation that the department will not take enforcement action regarding specific proposed conduct, based on facts presented at the time of issuance.

Requires the department to act on no-action letter requests within 90 days after receiving all necessary information, and allows insurers to withdraw requests before issuance.

Provides that once a no-action letter is issued, the department cannot bring enforcement actions against the insurer for the specific conduct covered, unless there is a material change in facts, law, or discovery of misrepresentation by the insurer.

Establishes that no-action letter requests remain closed records until the department responds, after which the request and response become public, with proprietary or trade secret information remaining confidential upon insurer request.