|
Board Rules - Chapter 5 Life
Insurance
5-1 Procurement by Contract
5-2 Procurement Procedures
5-1 Procurement by Contract
Under the authority granted by sections 104.517 and 104.1072, RSMo,
the board has elected to procure life insurance by contract through
a group policy issued by an insurance company licensed in the state
of Missouri.
5-2 Procurement Procedures
The following information shall be provided at applicable intervals,
referenced below, to the Board at a Board meeting held during the second
quarter of each year:
(A) The Insurance/Risk Manager Consultant shall advise the board annually
of the conditions of the life insurance marketplace and whether or not
rates have changed significantly.
(B) Beginning in 2003, the Insurance/Risk Manager Consultant and MOSERS'
staff shall conduct periodic due diligence meetings with the life insurance
provider at least every three years in order to analyze plan design,
customer service, and rate issues. The Consultant and MOSERS' staff
will summarize the findings of these meetings in a report to the Board.
(C) The Executive Director may recommend to the Board changes to the
life insurance contract or the issuance of a request for proposal from
additional insurers:
- based on the information provided to the Board under this rule,
or
- whenever the Executive Director determines it is appropriate to
do so.
|
