Purpose of the Bill

The purpose of this bill is to enhance transparency and customer service in the insurance industry by ensuring policyholders have access to their current insurance policies upon request.

Main Provisions

• Insurers' Obligations: The bill mandates that insurance companies must provide a copy of the current policy to the insured upon request.
• Delivery Timeline: Insurers are required to provide this copy within 21 days of receiving the request.
• Methods of Delivery: The policy can be delivered in various forms, including paper, electronic, or through a website link.
• Frequency of Requests: Insurers are obligated to fulfill this request only once per policy period.

Significant Changes to Existing Law

This bill introduces a new requirement to the existing Minnesota Statutes, specifically in section 72A.20, by adding a subdivision that formalizes the process and timeline for providing policy copies. This ensures that policyholders have easier access to their insurance documents, which may not have been explicitly outlined in previous legislation.

Relevant Terms

• Insurer
• Policyholder
• Current policy
• Delivery methods (paper, electronic, website link)
• Policy period