Bill > HF2235

This bill modifies an existing Minnesota law regarding insurance fraud prevention assessments by removing specific language referencing a payment date (June 1, 2024) that was likely temporary or no longer relevant. The bill maintains the existing assessment structure for insurers authorized to sell insurance in Minnesota, which requires insurers to pay an assessment based on their total assets and total written Minnesota premium. The assessment amounts remain unchanged: insurers with less than $100 million in assets pay $400, those between $100 million and $1 billion pay $1,500, and those over $1 billion pay $4,000. Similarly, for premium-based assessments, insurers with less than $10 million in Minnesota premiums pay $400, those between $10 million and $100 million pay $1,500, and those over $100 million pay $4,000. The bill explicitly excludes risk retention groups and township mutuals organized under chapter 67A from being considered insurers for the purposes of this assessment. The purpose of the bill appears to be to streamline the statutory language by removing now-obsolete references to a specific payment year.

Business and Industry

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF2235&ssn=0&y=2025