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2017 Minnesota Statutes

This chapter has been affected by law enacted during the 2018 legislative session. More info...

Note: see session law sections for effective dates.

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60A.04 [Repealed, 1969 c 708 s 62]
60A.05 [Repealed, 1992 c 564 art 3 s 30]
60A.051 [Repealed, 1992 c 564 art 3 s 30]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60A.076 [Repealed, 1991 c 325 art 4 s 10]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.
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.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60A.101 [Repealed, 1988 c 674 s 22]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60A.111 [Repealed, 2001 c 215 s 41]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.
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.
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 DEFINITIONS.
60A.981 INFORMATION SECURITY PROGRAM.
60A.982 UNFAIR TRADE PRACTICES.
INTERSTATE INSURANCE PRODUCT REGULATION COMPACT
60A.99 INTERSTATE INSURANCE PRODUCT REGULATION COMPACT.
60A.991 INTERSTATE INSURANCE PRODUCT REGULATION COMPACT OPT OUT ADMINISTRATION.

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