Purpose of the Bill

The purpose of this bill is to ensure that insurance companies in Minnesota provide policyholders with access to their current insurance policies promptly upon request.

Main Provisions

• The bill mandates that if an individual who is the first named insured on an insurance policy requests a copy of their current policy, the insurer must respond by providing the document within 21 days.
• The delivery of the current policy can be made through different methods, including paper form, electronically, or via a website link.
• This requirement applies to one request per policy period.

Significant Changes to Existing Law

• This bill adds a new subdivision to the Minnesota Statutes section 72A.20, creating an obligation for insurers to supply current policies to policyholders upon request, establishing timeframes and delivery methods which were not specified before.

Relevant Terms

• Insurer
• Insurance policy
• Current policy
• First named insured
• Policy period