2024 Minnesota Statutes

CHAPTER 60A. GENERAL INSURANCE POWERS

Table of Sections

Section	Headnote
60A.01	SCOPE.
60A.02	DEFINITIONS.
60A.03	COMMISSIONER OF COMMERCE.
60A.031	EXAMINATIONS.
60A.032	COMMISSIONER'S ORDERS, REPORT.
60A.033	SCHEDULING CONFERENCE AND ORDER.
60A.035	GOVERNMENT CONTROLLED OR OWNED COMPANY PROHIBITED FROM TRANSACTING BUSINESS.
60A.04	[Repealed, 1969 c 708 s 62]
60A.05	[Repealed, 1992 c 564 art 3 s 30]
60A.051	[Repealed, 1992 c 564 art 3 s 30]
60A.052	CERTIFICATES OF AUTHORITY; ENFORCEMENT ACTIONS.
60A.053	MS 2008 [Expired, 2000 c 367 s 1]
60A.06	KINDS OF INSURANCE PERMITTED.
60A.07	AUTHORIZATION AND REQUIREMENTS.
60A.075	[Renumbered 66A.41]
60A.076	[Repealed, 1991 c 325 art 4 s 10]
60A.077	[Renumbered 66A.40]
INSURABLE INTEREST
60A.078	SHORT TITLE.
60A.0782	DEFINITIONS.
60A.0783	INSURABLE INTEREST REQUIRED.
60A.0784	PROHIBITED PRACTICES.
60A.0785	PROHIBITION; ENTRY INTO SETTLEMENT CONTRACTS.
60A.0786	PRESUMPTION OF STOLI PRACTICES.
60A.0787	PROCESSING CHANGE OF OWNERSHIP OR BENEFICIARY REQUESTS.
60A.0788	FRAUDULENT ACTS.
60A.0789	REMEDIES.
CONTRACTS
60A.08	CONTRACTS OF INSURANCE.
AIRCRAFT INSURANCE
60A.081	AIRCRAFT INSURANCE.
BREACH OF POLICY
60A.0811	BREACH OF INSURANCE POLICY; RECOVERY OF INTEREST.
60A.0812	PROPERTY AND CASUALTY POLICY EXCLUSIONS.
GROUP POLICIES
60A.082	GROUP INSURANCE; BENEFITS CONTINUED IF INSURER CHANGED.
60A.084	NOTIFICATION ON GROUP POLICIES.
60A.085	CANCELLATION OF GROUP COVERAGE; NOTIFICATION TO COVERED PERSONS.
60A.086	RETROACTIVE TERMINATION OF COVERAGE UNDER GROUP POLICIES PROHIBITED.
FINANCIAL REGULATION
60A.09	LIMITS OF RISK; REINSURANCE.
60A.091	DEFINITION; QUALIFIED UNITED STATES FINANCIAL INSTITUTION.
60A.092	REINSURANCE CREDIT ALLOWED A DOMESTIC CEDING INSURER.
60A.0921	CREDIT FOR REINSURANCE; CERTIFIED REINSURERS.
60A.093	REDUCTION FROM LIABILITY FOR REINSURANCE CEDED BY A DOMESTIC INSURER; COLLATERAL REQUIREMENTS.
60A.094	RULES.
60A.095	REINSURANCE AGREEMENTS AFFECTED.
60A.096	QUALIFYING LETTER OF CREDIT.
60A.097	QUALIFYING TRUST AGREEMENTS.
60A.10	DEPOSITS FOR PROTECTION OF POLICYHOLDERS.
60A.101	[Repealed, 1988 c 674 s 22]
60A.11	INVESTMENTS PERMITTED FOR DOMESTIC COMPANIES.
60A.111	[Repealed, 2001 c 215 s 41]
60A.112	INVESTMENT POLICY REQUIRED.
60A.12	ASSETS AND LIABILITIES.
60A.121	VALUATIONS; DEFINITIONS.
60A.122	REQUIRED WRITTEN PROCEDURES FOR VALUATIONS.
60A.123	VALUATION PROCEDURE.
60A.124	INDEPENDENT AUDIT.
60A.125	APPRAISAL BY INDEPENDENT APPRAISER.
60A.126	REPORTS TO BOARD; VALUATIONS.
60A.127	INDEPENDENT APPRAISALS OF CERTAIN PROPERTIES.
60A.128	[Repealed, 2000 c 350 s 16]
60A.1285	OTHER IMPAIRMENTS.
60A.129	[Repealed, 2009 c 37 art 3 s 25]
60A.1291	ANNUAL AUDIT.
60A.1295	ACTUARIAL OPINION OF RESERVES AND SUPPORTING DOCUMENTATION.
60A.1296	CONFIDENTIALITY.
60A.13	ANNUAL STATEMENT, INQUIRIES, RENEWAL LICENSES.
60A.131	OTHER BUSINESS AND INSURANCE INTERESTS, DISCLOSURE.
60A.135	REPORT; CERTAIN TRANSACTIONS.
60A.136	ACQUISITIONS AND DISPOSITIONS OF ASSETS.
60A.137	NONRENEWALS, CANCELLATIONS, OR REVISIONS OF CEDED REINSURANCE AGREEMENTS.
60A.139	ELECTRONIC NOTICES AND DOCUMENTS.
60A.1391	CORPORATE GOVERNANCE ANNUAL DISCLOSURE.
FEES
60A.14	FEES.
60A.15	[Repealed, 2000 c 394 art 2 s 28]
60A.151	[Repealed, 1989 c 324 s 29]
60A.152	[Repealed, 2000 c 394 art 2 s 28]
MERGERS, CONSOLIDATIONS, DOMESTICATIONS, AND CONVERSIONS
60A.16	MERGERS AND CONSOLIDATIONS.
60A.161	INSURER DOMESTICATION AND CONVERSION.
60A.17	Subdivisions renumbered, repealed, or no longer in effect
60A.1701	[Renumbered 60K.19]
AGENCY AGREEMENTS
60A.171	REHABILITATION AND CANCELLATION OF INDEPENDENT AGENT CONTRACTS BY INSURANCE COMPANIES.
60A.172	INSURANCE AGENCY CONTRACTS; CANCELLATION.
60A.173	EFFECTIVE DATE.
60A.174	SEVERABILITY.
60A.175	AGENT COMMISSIONS.
60A.1755	AGENT ERRORS AND OMISSIONS INSURANCE; CHOICE OF SOURCE.
60A.176	DEFINITIONS.
60A.177	INVOLUNTARY TERMINATION OF AN AGENT BY THE INSURER.
LIFE OR HEALTH SALES QUOTAS
60A.178	LIFE OR HEALTH INSURANCE SALES QUOTAS.
60A.179	LIFE OR HEALTH INSURANCE SALES QUOTAS FOR EXCLUSIVE AGENTS.
60A.18	[Repealed, 2014 c 222 art 1 s 58]
FOREIGN COMPANIES
60A.19	FOREIGN COMPANIES.
SURPLUS LINES INSURANCE
60A.195	CITATION.
60A.196	DEFINITIONS.
60A.197	RATES AND FORMS.
60A.198	TRANSACTION OF NONADMITTED INSURANCE.
60A.199	EXAMINATIONS.
60A.20	[Repealed, 1981 c 221 s 15]
60A.201	PLACEMENT OF INSURANCE BY BROKER.
60A.202	EVIDENCE OF PLACEMENT OF INSURANCE BY BROKER.
60A.203	RETENTION OF RECORDS.
60A.204	FEES AND COMMISSIONS.
60A.205	COMPENSATION.
60A.206	QUALIFICATION AS ELIGIBLE SURPLUS LINES INSURER.
60A.207	POLICIES TO INCLUDE NOTICE.
60A.208	BROKER ASSOCIATION.
60A.2085	SURPLUS LINES ASSOCIATION OF MINNESOTA.
60A.2086	LICENSEE'S DUTY TO SUBMIT DOCUMENTS; PENALTY.
60A.209	INSURANCE PROCURED FROM INELIGIBLE INSURERS.
60A.2095	CONSTRUCTION.
UNAUTHORIZED INSURERS PROCESS
60A.21	UNAUTHORIZED INSURERS PROCESS ACT.
MISCELLANEOUS
60A.22	SPECIAL PROVISIONS AS TO STOCK COMPANIES; STOCKHOLDERS, OFFICERS, DIRECTORS AND INVESTORS.
60A.23	MISCELLANEOUS.
STOP LOSS CONTRACTS
60A.235	STANDARDS FOR DETERMINING WHETHER CONTRACTS ARE HEALTH PLAN CONTRACTS OR STOP LOSS CONTRACTS.
60A.236	STOP LOSS REGULATION; SMALL EMPLOYER COVERAGE.
EXEMPTION FOR FRATERNALS
60A.24	EXEMPTIONS FROM INSURANCE LAWS OF THIS STATE.
INSOLVENCY, SUSPENSION, AND DISCIPLINE OF INSURERS
60A.25	INSOLVENT COMPANIES.
60A.26	SUSPENSION OF INSURERS; NOTIFICATIONS AND REPORTS.
60A.27	DISCIPLINE OF INSURER BY ANOTHER STATE; NOTICE TO COMMISSIONER.
DOCUMENTS FILED WITH COMMISSIONER
60A.28	DOCUMENTS FILED WITH COMMISSIONER, VERIFICATION.
NONPROFIT RISK INDEMNIFICATION
60A.29	NONPROFIT RISK INDEMNIFICATION TRUST ACT.
60A.30	[Renumbered 60A.351]
60A.31	[Renumbered 60A.352]
EXPEDITED FORM AND RATE FILING
60A.315	EXPEDITED FORM AND RATE FILING.
CROP HAIL INSURANCE RATE FILING
60A.32	RATE FILING FOR CROP HAIL INSURANCE.
CANCELLATION AND RENEWAL OF COMMERCIAL LIABILITY AND/OR PROPERTY POLICIES
60A.35	SCOPE.
60A.351	RENEWAL OF INSURANCE POLICY WITH ALTERED RATES.
60A.352	WORKERS' COMPENSATION INSURANCE.
60A.36	MIDTERM CANCELLATION.
60A.37	NONRENEWAL.
60A.38	INTERPRETATION AND PENALTIES.
CERTIFICATES OF INSURANCE
60A.39	CERTIFICATES OF INSURANCE.
60A.40	[Repealed, 1996 c 446 art 1 s 72; 1998 c 339 s 12]
SUBROGATION AGAINST INSURED
60A.41	SUBROGATION AGAINST INSUREDS PROHIBITED.
DISABILITY INCOME COVERAGE
60A.42	DISABILITY INCOME COVERAGE; PROHIBITED PROVISION.
60A.43	DISABILITY INCOME COVERAGE; DISCLOSURE.
RISK-BASED CAPITAL FOR HEALTH ORGANIZATIONS
60A.50	DEFINITIONS.
60A.51	RBC REPORTS.
60A.52	COMPANY ACTION LEVEL EVENT.
60A.53	REGULATORY ACTION LEVEL EVENT.
60A.54	AUTHORIZED CONTROL LEVEL EVENT.
60A.55	MANDATORY CONTROL LEVEL EVENT.
60A.56	HEARINGS.
60A.57	ACCESS TO AND USE OF RBC INFORMATION.
60A.58	SUPPLEMENTAL PROVISIONS.
60A.59	FOREIGN HEALTH ORGANIZATIONS.
60A.591	IMMUNITY.
60A.592	NOTICES.
REGULATION OF RISK-BASED CAPITAL
60A.60	DEFINITIONS.
60A.61	RISK-BASED CAPITAL REPORTS.
60A.62	COMPANY ACTION LEVEL EVENT.
60A.63	REGULATORY ACTION LEVEL EVENT.
60A.64	AUTHORIZED CONTROL LEVEL EVENT.
60A.65	MANDATORY CONTROL LEVEL EVENT.
60A.66	HEARINGS.
60A.67	CONFIDENTIALITY.
60A.68	SUPPLEMENTAL PROVISIONS; RULES; EXEMPTION.
60A.69	FOREIGN INSURERS.
60A.695	IMMUNITY.
60A.696	NOTICES.
REINSURANCE INTERMEDIARY ACT
60A.70	TITLE.
60A.705	DEFINITIONS.
60A.71	LICENSURE.
60A.715	REQUIRED CONTRACT PROVISIONS; REINSURANCE INTERMEDIARY-BROKERS.
60A.72	BOOKS AND RECORDS; REINSURANCE INTERMEDIARY-BROKERS.
60A.725	DUTIES OF INSURERS UTILIZING THE SERVICES OF A REINSURANCE INTERMEDIARY-BROKER.
60A.73	REQUIRED CONTRACT PROVISIONS; REINSURANCE INTERMEDIARY-MANAGERS.
60A.735	PROHIBITED ACTS.
60A.74	DUTIES OF REINSURER UTILIZING THE SERVICES OF A REINSURANCE INTERMEDIARY-MANAGER.
60A.745	EXAMINATION AUTHORITY; REINSURANCE INTERMEDIARY - BROKER.
60A.75	VIOLATIONS.
60A.755	SCOPE.
60A.756	RULES.
MINIMUM STANDARD OF VALUATION FOR HEALTH INSURANCE
60A.76	PURPOSE AND SCOPE.
60A.761	GLOSSARY OF TECHNICAL TERMS USED.
60A.762	CATEGORIES OF RESERVES.
60A.763	CLAIM RESERVES.
60A.764	PREMIUM RESERVES.
60A.765	CONTRACT RESERVES REQUIRED.
60A.766	MINIMUM STANDARDS FOR CONTRACT RESERVES.
60A.767	REINSURANCE.
60A.768	SPECIFIC STANDARDS FOR MORBIDITY, INTEREST, AND MORTALITY.
REINSURANCE AGREEMENTS
60A.80	[Repealed, 1994 c 426 s 14]
60A.801	[Repealed, 1994 c 426 s 14]
60A.802	[Repealed, 1994 c 426 s 14]
60A.803	LIFE AND HEALTH REINSURANCE AGREEMENTS.
INSURANCE REGULATORY INFORMATION SYSTEM
60A.90	SCOPE.
60A.91	FILING REQUIREMENTS.
60A.92	IMMUNITY.
60A.93	CONFIDENTIALITY.
60A.94	REVOCATION OF CERTIFICATE OF AUTHORITY.
INSURANCE FRAUD
60A.951	DEFINITIONS.
60A.952	DISCLOSURE OF INFORMATION.
60A.953	ENFORCEMENT; REFUSAL TO COOPERATE WITH AN INVESTIGATION.
60A.954	INSURANCE ANTIFRAUD PLAN.
60A.955	CLAIM FORMS TO CONTAIN FRAUD WARNING.
60A.956	OTHER LAW ENFORCEMENT AUTHORITY.
VIATICAL SETTLEMENTS
60A.957	DEFINITIONS.
60A.9572	LICENSE AND BOND REQUIREMENTS.
60A.9573	LICENSE REVOCATION AND DENIAL.
60A.9574	APPROVAL OF VIATICAL SETTLEMENT CONTRACTS AND DISCLOSURE STATEMENTS.
60A.9575	REPORTING REQUIREMENTS AND PRIVACY.
60A.9577	DISCLOSURE TO VIATOR.
60A.9579	GENERAL RULES.
60A.9581	PROHIBITED PRACTICES AND CONFLICTS OF INTEREST.
60A.9582	ADVERTISING FOR VIATICAL SETTLEMENTS AND VIATICAL SETTLEMENTS PURCHASE AGREEMENTS.
60A.9583	FRAUD PREVENTION AND CONTROL.
60A.9585	UNFAIR TRADE PRACTICE.
60A.961	[Repealed, 2009 c 62 s 14]
60A.962	[Repealed, 2009 c 62 s 14]
60A.963	[Repealed, 2009 c 62 s 14]
60A.964	FEES.
60A.965	[Repealed, 2009 c 62 s 14]
60A.966	[Repealed, 2009 c 62 s 14]
60A.967	[Repealed, 2009 c 62 s 14]
60A.968	[Repealed, 2009 c 62 s 14]
60A.969	[Repealed, 2009 c 62 s 14]
60A.970	[Repealed, 2009 c 62 s 14]
60A.971	[Repealed, 2009 c 62 s 14]
60A.972	[Repealed, 2009 c 62 s 14]
60A.973	[Repealed, 2009 c 62 s 14]
60A.974	[Repealed, 2009 c 62 s 14]
STRUCTURED SETTLEMENT ANNUITIES
60A.975	DEFINITIONS.
60A.976	ANNUITY ISSUERS FINANCIAL REQUIREMENTS.
INFORMATION SECURITY PROGRAM
60A.98	MS 2020 [Repealed, 1Sp2021 c 4 art 3 s 29]
60A.981	MS 2020 [Repealed, 1Sp2021 c 4 art 3 s 29]
60A.982	MS 2020 [Repealed, 1Sp2021 c 4 art 3 s 29]
60A.985	DEFINITIONS.
60A.9851	INFORMATION SECURITY PROGRAM.
60A.9852	INVESTIGATION OF A CYBERSECURITY EVENT.
60A.9853	NOTIFICATION OF A CYBERSECURITY EVENT.
60A.9854	POWER OF COMMISSIONER.
60A.9855	CONFIDENTIALITY.
60A.9856	EXCEPTIONS.
60A.9857	PENALTIES.
60A.9858	EXCLUSIVITY.
INTERSTATE INSURANCE PRODUCT REGULATION COMPACT
60A.99	INTERSTATE INSURANCE PRODUCT REGULATION COMPACT.
60A.991	INTERSTATE INSURANCE PRODUCT REGULATION COMPACT OPT OUT ADMINISTRATION.