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Capital IconMinnesota Legislature

Legislative Session number- 82

Bill Name: SF1054

E Relating to insurance; clarifying the exemption of long term care insurance
policies from certain combination policy limits and the exemption of
professional liability insurance from certain liability limit reduction
restrictions; authorizing actuaries providing loss reserve certification to be
insurance company employees, authorizing the commissioner of commerce to require
independent actuarial certifications and modifying the certification statement
requirement; authorizing the payment of filing fees on a quarterly basis and by
electronic means; expanding the scope of domestic insurance corporation mergers
and consolidations; requiring commissioner approval of contracts between
licensed risk management services vendors and workers compensation self
insurance groups; defining accelerated benefits and qualifying event for life
insurance regulation purposes; specifying certain continuation of coverage
instructions availability requirements; clarifying the coverage requirement for
dependents and the minimum coverage requirement for medicare supplement plans
and expanding the definition of medicare related coverage; authorizing and
providing for the commissioner to establish demonstration projects to allow
medicare supplement policy issuers to extend coverage to individuals enrolled in
parts A and B of the medicare program, specifying certain benefits, application
and issuer annual report requirements; requiring health plans ceasing to do
business in the individual market to submit to the commissioner a complete list
of terminated policyholders within a certain number of days of termination and
expanding policyholder notice requirements; increasing the maximum lifetime
benefit under the comprehensive health insurance plan and expanding number three
plan qualification requirements; correcting the definition of direct written
premiums for joint underwriting association members general assessment purposes;
increasing the maximum lifetime benefit and the deductible requirements for
small employer plans; authorizing the commissioner to suspend the operation of
the health coverage reinsurance association upon receipt of a recommendation for
suspension from the association board of directors, authorizing reactivation
upon a finding of unavailability of commercial reinsurance to health carriers
operating in the small employer market; requiring nonlicensed utilization review
organizations to pay the commissioner certain initial registration application
and renewal fees and requiring prompt notice to claimants and providers of
claims administrator coverage denial determinations; requiring notice to health
plan company enrollees of the right to external review of adverse determinations
for complaint resolution purposes; expanding fire insurance nonrenewal notice
content requirements; eliminating the requirement for member ratification of
amendments to the Minnesota automobile insurance plan, modifying the requirement
for distribution of risks and clarifying the coverage requirement; expanding
certain automobile insurance cancellation or nonrenewal notice requirements;
authorizing township mutual fire insurance company agreements with Minnesota
licensed insurers authorized to write the same lines of business; requiring
insurance forms to be open to inspection by the commissioner and the public;
making the workers compensation self insurers advisory committee permanent;
expanding the financial standards for workers compensation self insurer groups;
restricting the eligibility of insolvent private self insurers for additional
grants of authority to self insure; modifying certain self insurance surety bond
form content requirements; requiring certification and filing of local
government unit employee health benefits self insurance plans before issuance or
delivery; repealing the nonprofit legal service plan act and a certain provision
providing for the ratio of qualified assets to required reserves (ra, ja)