Minnesota Legislature
HF 2460
as introduced - 94th Legislature (2025 - 2026) Posted on 03/17/2025 03:00pm
Bill Text Versions
| Engrossments | ||
|---|---|---|
| Introduction | Posted on 03/17/2025 |
Current Version - as introduced
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A bill for an act
relating to insurance; amending time requirements for midterm policy cancellation;
amending Minnesota Statutes 2024, section 65A.01, subdivision 3c.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Minnesota Statutes 2024, section 65A.01, subdivision 3c, is amended to read:
Subd. 3c.
Time requirements.
(a) In the event of a policy less than 60 days old that is
declined, or a policy that it is being canceled for nonpayment of premium, the notice must
be mailed to the insured at least deleted text begin 20deleted text end new text begin 60new text end days before the effective cancellation date. If a policy
is being declined or canceled for underwriting considerations, the insured must be informed
of the source from which the information was received.
(b) In the event of a midterm cancellation, for reasons listed in subdivision 3a, or
according to policy provisions, notice must be mailed to the insured at least deleted text begin 30deleted text end new text begin 60new text end days
before the effective cancellation date.
(c) In the event of a nonrenewal, notice must be mailed to the insured at least 60 days
before the effective date of nonrenewal, containing the specific underwriting or other reason
for the indicated actions.
(d) This subdivision does not apply to commercial policies regulated under sections
60A.36 and 60A.37.