The Missouri Department of Insurance, Financial Institutions and Professional Registration ("DIFP") has announced a comprehensive review of its rules in accordance with Governor Eric Greitens’ Executive Order 17-03.

Governor Greitens has directed every state agency to undertake a review of every regulation in the Code of State Regulations that falls under their jurisdiction. As part of the review, every state agency shall:

1. Accept written public comments for at least a 60-day period;
2. Hold at least two public hearings to allow citizens and businesses to identify regulations that are ineffective, unnecessary, or unduly burdensome;
3. Solicit and incorporate comments and advice from private citizens, stakeholders, regulated entities, and other interested parties; and
4. Complete the review by May 31, 2018.

In addition, every State Agency shall:

1. Designate an individual to oversee the review; and
2. With respect to each existing regulation and any proposed regulation, affirm in a report, to be submitted to the Office of the Governor by May 31, 2018, that:
   1. The regulation is essential to the health, safety, or welfare of Missouri residents;
   2. The costs of the regulation do not outweigh their benefits, based on a cost benefit analysis;
   3. A process and schedule exist to measure the effectiveness of the regulation;
   4. Less restrictive alternatives have been considered and found less desirable than the regulation;
   5. The regulation is based on sound, reasonably available scientific, technical, economic, and other relevant information; and
   6. The regulation does not unduly and adversely affect Missouri citizens or customers of the state or the competitive environment of Missouri.

The Executive Order also requires that, by June 30, 2018, every state agency shall take any action necessary to repeal or to cease rulemaking for any regulation that does not meet the requirements of its report.

To implement the Executive Order, DIFP has created a website for members of the public to comment on the rules.

DIFP is particularly interested in hearing about rules that are believed to be ineffective, unnecessary, or unduly burdensome, but it will also accept and consider comments regarding any perceived errors or substantive issues that stakeholders believe should be addressed. Comments will be accepted on an ongoing basis, but DIFP's goal is to gather input by October 2, 2017.

In addition to taking online comments, the DIFP will hold public input sessions on August 10, 2017 and September 21, 2017 from 1-3 p.m. (CT) in the Harry S Truman State Office Building in Jefferson City, MO, to receive comments.

Dentons will be assisting insurers, reinsurers, third party administrators, captives and other insurance industry interested parties in rule review, analysis and comment.