Purpose of the Bill

The bill aims to ensure that individuals who hold insurance policies can easily obtain a copy of their current policy when requested. This legislation seeks to enhance transparency and customer service in the insurance industry.

Main Provisions

• Policy Delivery Requirement: Insurance companies must provide a copy of the current policy to the first named insured person within 21 days after receiving a request.
• Methods of Delivery: Insurers can deliver the policy in paper form, electronically, or through a website link.
• Frequency of Requests: Insurers are obligated to fulfill such a request once per policy period.

Significant Changes to Existing Law

This bill introduces a new requirement for insurers in Minnesota to respond to requests for current policy documents, promoting better access and information flow between insurers and policyholders. Previously, there may not have been explicit legislation mandating insurers to provide current policy copies upon request within a specified timeframe.

Relevant Terms

• Insurance policy
• Insurer
• Current policy
• Policyholder
• Transparency