read Read

e-mail E-mailprint Print

NAMIC 2006 Survey of New State Insurance Laws Summary and Analysis

2006 SUMMARY OF NEW STATE LAWS - MINNESOTA

Minnesota State Legislative Website

BILL #

CHAPTER #

ISSUE

BILL DESCRIPTION

HF 1838

189

Motor vehicle insurance - auto equipment issues

Authorizes local governments to permit low-speed neighborhood electric vehicles to be operated on residential roadways; makes clarifying changes. Effective: Aug. 1, 2006.

HF 2876

204

Farm mutuals

Relates to town mutual insurance companies; clarifies an exception to restriction on insuring property in second class cities; allows town mutual insurance companies to continue to do business in a portion of a city that was annexed and reclassified as second class. Effective: Varies.

HF 2916

217

Tax Issues

Establishes the fire safety account from revenues on fire premiums and assessments; abolishes the fire insurance tax; appropriates money; provides exemption for specified mutual insurance companies. Effective: July 1, 2006.

SF 2002

233

Identity theft - security freeze

Regulates security freezes on a consumer's credit report; provides protections against identity theft; provides for the adequate destruction of personal records and data; regulates data warehouses; modifies notice requirements; regulates credit issued to minors; regulates credit card offers and solicitations. Effective: Aug. 1, 2006.

SF 3465

178

Workers' compensation - disputes and settlements

Relates to workers' compensation; modifies appeal procedures; modifies notice of coverage provisions; requires notice to an insured before policy cancellation, termination or nonrenewal. Effective: Aug. 1, 2006.

SF 3480

255

Omnibus insurance law changes

Relates to insurance; regulates insurers, insurance forms, rates, minimum loss ratio guarantee, coverages, purchases, disclosures, filings, utilization reviews and claims; enacts an interstate insurance product regulation compact for individual and group annuity, life insurance, disability income, long-term care insurance and advertisements; regulates the uniform health care identification card; requires health care provider pricing transparency; regulates charity care and initial sponsor approval. Effective: Varies.

The information contained in this summary is not intended as a portrayal of every property/casualty-related law enacted in each state. Rather, it represents recently enacted legislation specifically identified by NAMIC State and Regulatory Affairs Staff as bearing direct relevance to those issues that represent NAMIC's National State Legislative Agenda or otherwise deemed pertinent to the interests of the majority of NAMIC members.

This summary is for use as a convenient tool for our members, and is not intended, and should not be considered to be, legal advice. Please consult your legal representatives.