Bill > HF2601

This bill proposes several modifications to Minnesota's financial regulations, with a focus on insurance holding companies and loan interest rates. The key provisions include changing the maximum interest rate calculation for certain loans from a previous benchmark to the average prime offer rate plus four percentage points, establishing new group capital calculation requirements for insurers, and mandating that insurers complete a National Association of Insurance Commissioners (NAIC) liquidity stress test. The bill requires insurers to file group capital calculations and liquidity stress test results with the lead state insurance commissioner, with specific exemptions for smaller or less complex insurance holding company systems. Additionally, the bill introduces new confidentiality provisions to protect sensitive financial information, prohibits misleading publications about group capital calculations and liquidity stress tests, and gives the commissioner expanded authority to supervise and potentially intervene in insurance holding company transactions that might pose financial risks. The changes aim to enhance financial oversight, improve risk assessment, and provide more robust regulatory tools for monitoring the financial health of insurance companies and their holding company systems.

Business and Industry, Justice

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF2601&ssn=0&y=2025