The national guide covers basic property and casualty concepts. This guide covers the Missouri rules tested in this area. Missouri adopts the 1943 New York Standard Fire Policy as its standard, with Missouri changes (20 CSR 500-1.100; RSMo 379.150–379.160). It also has its own binder rule and inland marine definition.

The Missouri standard fire policy (20 CSR 500-1.100; RSMo 379.160)

• The 1943 New York Standard Fire Insurance Policy, as modified, is Missouri's standard. The Director may approve other forms that are at least as favorable to the insured.
• Each fire insurer files the form it uses (379.160.1).

Missouri changes to the New York form

Notice and settlement (379.150, 379.160)

• The policy shows a U.S. address for notice of loss, which is due within 60 days after the loss.
• An adjuster's appearance at the fire scene is evidence of notice and waives the notice requirement.
• The insurer may pay ACV or repair, rebuild or replace with like kind and quality. It must give notice of its choice within 30 days of proof of loss (379.150).
• Coinsurance is allowed, but it requires a rate reduction under filed coinsurance credits.
• Valued real property: the insurer can't deny that insured real property was worth the full amount insured when the policy was issued (379.160.3).

Binders (20 CSR 500-1.300)

• A policy that replaces a binder must cover from the binder date.
• Binders can't give anyone a rate advantage.
• A binder charge can't exceed the pro rata premium the policy would have cost. Charges of $20 or less are at the insurer's option.

Inland marine definition (20 CSR 500-1.200)

Missouri adopts the 1976 NAIC Nationwide Marine Definition, with changes, to decide what inland marine may cover.

• Personal floaters: jewelry, furs, fine arts, stamps and coins, musical instruments, and wedding presents for up to 90 days after the wedding.
• Musical instruments: pianos and organs that usually stay on the premises are excluded. Radios and TVs aren't musical instruments.
• Commercial floaters: physicians' instruments, patterns and dies, salesmen's samples and builders' risks.
• Instrumentalities of transportation and communication: bridges and tunnels, but not buildings.

Comparative fault in products liability (RSMo 537.765)

In products liability claims, Missouri abolishes contributory fault as a complete bar and applies pure comparative fault. The claimant's damages are reduced in proportion to his or her fault.

Common exam traps

• Missouri's standard is the 1943 New York form, with Missouri's 30-day / 10-day cancellation notice replacing New York's 5 days.
• Appraisers within 20 days. Umpire within 15 days, or a judge chooses.
• Notice of loss within 60 days. The insurer chooses ACV or repair within 30 days of proof.
• Coinsurance requires a rate credit.
• The policy replacing a binder covers from the binder date.