Legislative Session number- 84

Bill Name: SF1783

2E Modifying certain provisions regulating insurance; modifying the
determination of the gross unearned premiums for return to the premium finance
company for the account of the insured, specifying a time limit for return after
receipt of the cancellation notice; increasing the fee for nonelectronic filing
forms and rates and eliminating the filing fee for certain large risk
alternative rating option plans; requiring notice to policyholders of nonrenewal
due to termination of agency contracts and of the right to renew with the
company terminating the contract; extending the validity of risk management
services vendors licenses and increasing the fee accordingly; expanding certain
viatical settlement provider contract form approval and disclosure requirements
to brokers; requiring insurers to implement a comprehensive written information
security program including safeguards for the protection of customer
information, specifying security program objectives and offering examples of
methods of development and implementation or the requirements, designating
violations as unfair trade practices; authorizing corporate members of insurance
holding company systems to determine the eligibility of persons indemnified as
parties to proceedings for advance reimbursement of certain expenses under
certain conditions; clarifying certain dental and vision or health plan coverage
requirements; modifying certain basic and extended basic medicare supplement
plan coverages; excluding inquiries relating to hypothetical or potential claims
under fire or homeowners insurance from consideration for nonrenewal purposes;
increasing the nonrefundable initial application and renewal fees for no-fault
automobile self insurers; requiring insurers to reevaluate the policyholder
insurance scores upon request; modifying certain requirements for authorizations
to disclose or collect personal or privileged information under the Minnesota
insurance fair information reporting act; providing for revision of experience
modification factors for certain closed workers compensation claims; modifying
certain rate prefiling requirements for insurers filing certifications verifying
the use of mutually agreed upon rating plans or rates to write workers
compensation insurance for certain large employers, requiring annual refiling of
the certifications; increasing the license application fee for data service
organizations; modifying certain workers compensation self insurance group
financial statement filing and future liability determination requirements;
modifying the workers compensation security fund assessment limit and requiring
immediate turn over of claim files and data to the security fund; providing for
timely filing of actuarial opinions by self insurers terminating self insurance
authority, requiring assessment of the expense of the opinions against the self
insurers and imposing interest on unpaid outstanding security fund assessments;
modifying certain workers compensation commercial self insurance group common
claims fund surplus refund requirements and authorizing the groups to provide
all states coverage; repealing the requirement for commissioner of commerce
approval of advertisements for life insurance contracts providing for the
payment of accelerated benefits and certain qualified plans availability
requirement under the comprehensive health insurance plan (MCHA)
(ra, ja)