2007 Minnesota Statutes

60E.05 COMPULSORY ASSOCIATIONS.
No risk retention group shall be required or permitted to join or contribute financially to
an insurance insolvency guaranty fund, or similar mechanism, in this state, nor shall any risk
retention group, or its insureds, or claimants against its insureds receive a benefit from the fund
for claims arising out of the operations of the risk retention group.
When a purchasing group obtains insurance covering its members' risks from an insurer not
authorized in this state or a risk retention group, no such risks, wherever resident or located, shall
be covered by any insurance guaranty fund or similar mechanism in this state.
When a purchasing group obtains insurance covering its members' risks from an authorized
insurer, only risks resident or located in this state shall be covered by the Minnesota Guaranty
Association under chapter 60C.
Notwithstanding chapter 62I, the commissioner may require or exempt a risk retention group
from participation in any mechanism established or authorized under the law of this state for the
equitable apportionment among insurers of liability insurance losses and expenses incurred on
policies written through this mechanism, and the risk retention group shall submit sufficient
information to the commissioner to enable the commissioner to apportion on a nondiscriminatory
basis the risk retention group's proportionate share of these losses and expenses.
History: 1987 c 192 s 5; 1993 c 299 s 23