MO SB485

Establishes minimum policyholder surplus requirements for assessable malpractice insurance associations: $200,000 by December 31, 2015, $400,000 by December 31, 2016, and $600,000 by December 31, 2017

Limits the ratio of net written premiums to policyholders' surplus to 3:1 (with a phase-in schedule of 4:1 by end of 2015, 3.5:1 by end of 2016, and 3:1 by end of 2017)

Requires associations to submit updated articles of association and bylaws within 180 days of August 28, 2015, or face suspension of certificate of authority or cease and desist orders

Exempts associations from surplus and premium ratio requirements if they maintain reinsurance covering at least 250% of annual net written premium with specified per-claim risk coverage (ranging from 80% for surplus under $1 million to 50% for surplus over $6 million)

Special assessments made more than five years after a former member's coverage termination shall not apply to that former member