Bill > HF2228

This bill establishes a task force to evaluate and provide recommendations for improving homeowners and commercial property insurance in Minnesota. The task force will consist of 13 members representing various stakeholders, including government agencies, legislative parties, real estate organizations, and insurance industry groups. Members must be appointed by July 15, 2025, and the first meeting will be convened no later than August 15, 2025. The task force's primary duties include identifying ways to strengthen and stabilize the insurance industry by reviewing risk mitigation strategies, liability laws, insurance costs, reinsurance markets, and factors that increase claim costs such as climate change, inflation, and fraudulent claims. By February 15, 2026, the task force must submit a comprehensive report to specified government agencies and legislative committees, including findings, recommendations, proposed administrative changes, and draft legislation. The bill also appropriates $200,000 from the general fund to the Legislative Coordinating Commission to support the task force's work, with funding available until June 30, 2026. The task force will automatically expire after submitting its final recommendations.

Business and Industry

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF2228&ssn=0&y=2025