HF 667

1st Engrossment - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to insurance; the Minnesota FAIR plan;
regulating property and liability coverage; amending
Minnesota Statutes 2004, section 65A.08, subdivision 2.

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

Section 1.

Minnesota Statutes 2004, section 65A.08,
subdivision 2, is amended to read:

Subd. 2.

Amount collectible.

In the absence of any
change increasing the risk, without the consent of the insurer,
of which the burden of proof shall be upon it, and in the
absence of intentional fraud on the part of the insured, the
insurer shall pay the whole amount mentioned in the policy or
renewal upon which it receives a premium, in case of total loss,
and in case of partial loss, the full amount thereof.

new text begin This subdivision does not apply to policies issued by the
Minnesota FAIR plan pursuant to section 65A.36, provided that,
in the case of a total loss, the premium paid attributable to
the difference between the whole amount mentioned in the policy
and the amount paid for the loss is refunded to the insured.
new text end

Sec. 2. new text begin EFFECTIVE DATE; APPLICATION.
new text end

new text begin Section 1 is effective the day following final enactment
and applies to policies issued or renewed on or after that date.
new text end