Bill > SF2639

This bill introduces comprehensive changes to automobile and motorcycle insurance regulations in Minnesota, focusing on increasing liability coverage amounts, establishing a traumatic brain injury (TBI) recovery program, and implementing new insurance requirements. The bill raises the minimum liability coverage for bodily injury and property damage from $30,000/$60,000 to $60,000/$120,000, and increases uninsured and underinsured motorist coverage limits from $25,000/$50,000 to $50,000/$100,000. It mandates that motorcycle insurance now include uninsured and underinsured motorist coverage, which was previously optional. A key provision creates a new traumatic brain injury recovery account and program, funded by a new surcharge on automobile insurance policies, designed to provide financial assistance to individuals who have suffered a TBI in an automobile accident. The program will be administered by the commissioner of human services, who will develop eligibility criteria, compensation amounts, and an application process. Insurers will be required to collect a per-vehicle surcharge and notify policyholders about the TBI recovery program. The bill also establishes new arbitration timelines and requires insurers to provide specific notices about coverage and the new TBI program. These changes are set to take effect on August 1, 2025, and will apply to new and renewed motor vehicle and motorcycle insurance policies from that date.

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https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF2639&ssn=0&y=2025