SF665 (Legislative Session 94 (2025-2026))
Time requirements amendment for midterm policy cancellation
Related bill: HF2460
AI Generated Summary
This bill, SF No 665, proposes changes to the insurance laws in Minnesota. Specifically, it aims to adjust the notice period requirements for when an insurance company can cancel a policy. If a policy is new (less than 60 days old) and is being canceled due to non-payment or declined, the insurance company must now provide at least 60 days notice, instead of the previous 20 days. Additionally, if a policy is canceled mid-term for specified reasons or according to policy terms, the notice period is also extended from 30 to 60 days. The bill further stipulates that if a policy is not going to be renewed, the insurer must notify the insured at least 60 days in advance, detailing the reasons for the nonrenewal. These changes do not apply to commercial policies, which are governed by different sections of the law.
Bill text versions
- Introduction PDF file
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| January 26, 2025 | Senate | Floor | Action | Introduction and first reading | |
| January 26, 2025 | Senate | Floor | Action | Referred to | Commerce and Consumer Protection |
Citations
[
{
"analysis": {
"added": [],
"removed": [],
"summary": "This bill amends time requirements for midterm policy cancellation under Minnesota Statutes section 65A.01, subdivision 3c.",
"modified": [
"Time extension for mailing cancellation notice from 20 to 60 days for policies less than 60 days old and midterm cancellations."
]
},
"citation": "65A.01"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "References commercial policies regulated under section 60A.36.",
"modified": []
},
"citation": "60A.36"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "References commercial policies regulated under section 60A.37.",
"modified": []
},
"citation": "60A.37"
}
]