1.1 A bill for an act
1.2 relating to insurance; modifying notice provisions governing surplus lines brokers;
1.3 amending Minnesota Statutes 2024, section 60A.201, subdivision 2, by adding a
1.4 subdivision.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. Minnesota Statutes 2024, section 60A.201, subdivision 2, is amended to read:
1.7 Subd. 2.Availability of other coverage; presumption.There shall be a rebuttable
1.8presumption that the following coverages are available from a licensed insurer:
1.9 (a) (1) all mandatory automobile insurance coverages required by chapter 65B;
1.10 (b) (2) private passenger automobile physical damage coverage;
1.11 (c) homeowners and property insurance on owner-occupied dwellings whose value is
1.12less than $500,000. This figure shall be changed annually by the commissioner by the same
1.13percentage as the Consumer Price Index for the Minneapolis-St. Paul Metropolitan Area is
1.14changed;
1.15 (d) (3) any coverage readily available from three or more licensed insurers unless the
1.16licensed insurers quote a premium and terms not competitive with a premium and terms
1.17quoted by an eligible surplus lines insurer; and
1.18 (e) (4) workers' compensation insurance, except excess workers' compensation insurance
1.19which is not available from the Workers' Compensation Reinsurance Association.
1Section 1.
25-04949 as introduced03/20/25 REVISOR RSI/HL
SENATE
STATE OF MINNESOTA
S.F. No. 3291NINETY-FOURTH SESSION
(SENATE AUTHORS: DAHMS)
OFFICIAL STATUSD-PGDATE
Introduction and first reading04/07/2025
Referred to Commerce and Consumer Protection 2.1 Sec. 2. Minnesota Statutes 2024, section 60A.201, is amended by adding a subdivision to
2.2read:
2.3 Subd. 7.FAIR plan coverage; notice.If the insurance placed by the surplus lines broker
2.4with a nonadmitted insurer is homeowners or property insurance on an owner-occupied
2.5dwelling, the broker must print, type, or stamp in not less than ten-point type on the face of
2.6the policy the following notice: "YOU MAY BE ELIGIBLE FOR COVERAGE THROUGH
2.7THE MINNESOTA FAIR PLAN, WHICH MAKES AVAILABLE PROPERTY AND
2.8LIABILITY COVERAGE, AS DEFINED BY THE MINNESOTA FAIR PLAN ACT, TO
2.9QUALIFIED APPLICANTS WHO HAVE BEEN UNABLE TO SECURE PROPERTY
2.10AND LIABILITY INSURANCE THROUGH THE NORMAL INSURANCE MARKETS."
2.11The notice under this subdivision must not be covered or concealed in any manner, and is
2.12in addition to the notice required under section 60A.207 or 60A.209.
2Sec. 2.
25-04949 as introduced03/20/25 REVISOR RSI/HL