Bill > SF2168

This bill, titled the "Family Protection Act," proposes to regulate certain exclusions in boat insurance policies and personal umbrella policies in Minnesota. It prohibits exclusions solely based on the injured person being a resident or member of the insured's household or related to the insured by blood or marriage. The bill also allows for "permitted exclusions" such as those for fraud or intentional conduct. It requires insurance companies to obtain approval from the Commissioner of Commerce before increasing premiums due to this new law, and states that an endorsement or rider is not required for the definitions in the bill to be effective. The provisions of this bill would apply to policies in effect on or after the day following final enactment.

Business and Industry

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF2168&ssn=0&y=2023