HF 3788

as introduced - 92nd Legislature (2021 - 2022) Posted on 02/28/2022 02:11pm

A bill for an act
relating to commerce; restricting underwriting for automobile insurance; amending
Minnesota Statutes 2020, section 72A.20, by adding a subdivision.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2020, section 72A.20, is amended by adding a subdivision
to read:

new text begin Subd. 23a. new text end

new text begin Automobile insurance underwriting. new text end

new text begin An insurer that offers an automobile
insurance policy in Minnesota is prohibited from using an underwriting standard or guideline
in determining rates other than the:
new text end

new text begin (1) value of the automobile;
new text end

new text begin (2) miles driven on average; and
new text end

new text begin (3) driving record of the applicant or insured.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective July 1, 2022, and applies to automobile
insurance policies issued or renewed on or after that date.
new text end