Section 375.004 - Refusal to renew, when authorized - exemption, when1. No insurer shall refuse to renew a policy unless the insurer or its agent mails or delivers to the named insured, at the address shown in the policy, at least thirty days' advance notice of its intention not to renew. The notice shall state the insurer's actual reason for proposing the action, the statement of reason to be sufficiently clear and specific so that a person of average intelligence can identify the basis for the insurer's decision without further inquiry. Generalized terms such as "personal habits", "living conditions", or "poor morals" shall not suffice to meet the requirements of this subsection. The notice shall also state that the insured may be eligible for insurance through the Missouri basic property insurance inspection and placement program. This section shall not apply: (1) If the insurer has manifested its willingness to renew; or(2) In case of nonpayment of premium; or(3) If the named insured has indicated he does not wish to have the policy renewed; or(4) If the insured fails to pay any advance premium required by the insurer for renewal.2. Renewal of a policy shall not constitute a waiver or estoppel with respect to grounds for cancellation which existed before the effective date of the renewal.3. An insurer shall be exempt from the requirements of this section regarding notice of nonrenewal if: (1) The insurer assigns or transfers the insured's policy to an affiliate or subsidiary within the same insurance holding company system;(2) The assignment or transfer is effective upon the expiration of the existing policy; and(3) Prior to providing coverage for a subsequent policy term, an insurer accepting an assignment or transfer of the policy shall provide notice of such assignment or transfer to the named insured. However, if the assignment or transfer of a policy does not result in coverage substantially equivalent to the coverage that was contained in the policy being assigned or transferred, the insurer shall, in lieu of providing the notice in subdivision (3) of this subsection, at least fifteen days in advance of the effective date of the assignment or transfer, notify the policyholder that some coverage provisions will change due to the assignment or transfer, advise the policyholder to refer to the new policy for coverage details, and provide a copy of or access to the replacement policy form or the executed replacement policy.
Amended by 2016 Mo. Laws, HB 2194,s A, eff. 8/28/2016.