Bill > SF665

This bill amends Minnesota insurance law by extending the time requirements for policy cancellations and notices. Specifically, the bill increases the advance notice period for policy cancellations from 20 to 60 days for policies less than 60 days old that are being declined or canceled for nonpayment of premiums, and from 30 to 60 days for midterm cancellations. The changes require insurance companies to provide insureds with more time to respond to or prepare for policy cancellations. The bill maintains existing requirements that insurers must inform policyholders about the source of information leading to a cancellation and specify reasons for nonrenewal. The new time requirements do not apply to commercial policies regulated under other specific Minnesota statutes. By lengthening the notification periods, the bill aims to provide consumers with greater protection and more opportunity to address issues that might lead to policy cancellation.

Business and Industry

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF0665&ssn=0&y=2025