WHEREAS, the Department of Insurance is charged with the execution and administration of laws related to insurance pursuant to Section 374.010, RSMo; and
WHEREAS, Section 374.075, RSMo required the Director of Insurance to establish a Division of Consumer Affairs and Section 374.085 requires the Division to recommend changes to state statutes when it considers such statutes to adversely or unfairly affect the interests of the general public; and
WHEREAS, the Director desires to receive input and advice from members of the general public on insurance laws and regulations; and
WHEREAS, Section 375.019, RSMo created an Advisory Board on Licensing and Examinations of Insurance Producers, a nine-member board, which has provided helpful advice from the perspective of insurance producers, but not consumers; and
WHEREAS, Section 374.284, RSMo, which became effective in 1999, required the Department to create a Health Insurance Advisory Committee to advise the department on issues relating to health care insurance, but no individuals have ever been appointed to serve on this board; and
WHEREAS, the Department has previously created a ten-member Consumer Advisory Council and an eight-member Industry Advisory Council without executive or statutory authority; and
WHEREAS, the Director believes that contributions of the Advisory Board on Licensing and Examinations should be shared with the public through the Insurance Advisory Panel; and
WHEREAS, the Director intends to establish a Health Insurance Advisory Board as a component of the Insurance Advisory Panel; and
WHEREAS, the Governor believes that an insurance advisory panel will authorize the Department to consolidate and coordinate the various advisory groups, furthering its mission to provide effective consumer protection and efficient regulation of the insurance industry; and
WHEREAS, this order is in the public interest.
NOW THEREFORE, I, Matt Blunt, Governor of Missouri, by virtue and authority vested in me by the Constitution and laws of the State of Missouri, do hereby create and establish the Insurance Advisory Panel.
The Insurance Advisory Panel shall consist of members appointed by the Director of Insurance. The Director shall designate one (1) member to serve as chair. All members shall serve at the pleasure of the Director.
Members of the Insurance Advisory Panel shall receive no compensation for their service to the people of Missouri, but may seek reimbursement for their reasonable and necessary expenses incurred as members of the Advisory Panel, in accordance with the rules and regulations of the Office of Administration, to the extent that funds are available for such purpose.
The membership of the Insurance Advisory Panel shall consist of individuals representing consumer interest groups and diverse segments of the insurance industry, as well as such other members as the Director from time to time may appoint.
The members on the Insurance Advisory Panel, if at all possible, shall include a wide geographical representation of Missouri, and the number of members shall not exceed twenty-one (21).
The Insurance Advisory Panel shall have the following objectives and duties:
- To meet at least annually with the Director;
- To provide advice to the Director on insurance laws and regulations, and legislative or administrative modifications to these laws currently under consideration;
- To initiate proposals and recommendations to the Director;
- To provide advice to the Director on the efficiency and fairness of the Department with particular emphasis on market and financial regulation;
- To provide advice to the Director in anticipating changes in the various insurance markets so that this agency can be responsive to the needs of consumers and the public markets; and
- To maintain a record of the Insurance Advisory Panel continuity and work.
The Insurance Advisory Panel may meet at such times as determined by the Director. Any meeting must be posted, in accordance with the Missouri Sunshine Law, Chapter 610, RSMo.
The Insurance Advisory Panel shall expire on January 31, 2009 unless renewed by Executive Order.
IN WITNESS WHEREOF, I have hereunto set my hand and caused to be affixed the Great Seal of the State of Missouri, in the City of Jefferson, on this 19th day of July, 2005.
[Matt Blunt's signature]
[Robin Carnahan's signature]
Secretary of State