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HB 3314

Allows DCI to share confidential information with guaranty associations on insolvency matters, amends composition of board members, and suspends plan of operation for association if medical malpractice insurance is available in voluntary market

2026 Regular Session Introduced by Dave Hinman

HB 3314 allows Missouri's insurance regulator to share confidential insurer data with guaranty associations during member insolvencies to expedite claim protection and payout processes.

Voted Do Pass (H)
#insurance-general #businessandcommerce #corporations
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Bill Summary · HB 3314

Legislative bill overview

HB 3314 modifies Missouri law to permit the Department of Commerce and Insurance (DCI) to share confidential information and materials with guaranty associations when a member insurer becomes insolvent. Guaranty associations are industry-created organizations that protect policyholders when insurers fail by covering unpaid claims up to statutory limits.

Why is this important

When an insurance company fails, guaranty associations need detailed financial and operational information to quickly assess claims, protect consumers' coverage, and manage the insolvency process. Currently, confidentiality restrictions may prevent DCI from sharing necessary data, potentially delaying claim resolution for affected policyholders and complicating the guaranty association's response efforts.

Potential points of contention

  • Information security concerns: Expanding data sharing increases the number of entities with access to sensitive consumer and company information, raising questions about data protection standards and breach liability
  • Definition of "necessity": The bill may lack clarity on what information qualifies for sharing and under what specific circumstances, potentially allowing overly broad disclosure
  • Industry vs. regulatory balance: Critics may argue guaranty associations represent industry interests rather than purely public interests, making them imperfect custodians of confidential regulatory information

Compiled from official sources — confirm details with the bill’s official record.

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