Bill > SF3060

This bill proposes several changes to insurance regulations in Minnesota: 1. It expands the types of property that can be insured against loss or damage, including boats and aircraft. 2. It allows an insurer to transfer a policyholder to an affiliate insurer, provided the affiliate complies with certain requirements and the policyholder's existing documents remain valid. 3. It broadens the definition of "insurance fraud" to include convictions or guilty pleas related to no-fault automobile insurance, and establishes a process for a convicted person to potentially have the sanction lifted after 5 years. 4. It expands the definition of "policy" to include certain commercial insurance policies, in addition to private passenger vehicle, homeowner's, and other individually underwritten policies. The key purpose of the bill is to modernize and provide more flexibility in certain insurance coverages and anti-fraud measures.

Business and Industry, Justice

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF3060&ssn=0&y=2017