Title Minnesota Statutes, Minnesota Statutes

65A.05 NUCLEAR REACTION, RADIATION OR RADIOACTIVE CONTAMINATION; ENDORSEMENT. Loss or damage caused by nuclear reaction, nuclear radiation or radioactive contamination, all whether directly or indirectly resulting from an insured peril under the standard policy issued pursuant to…

65A.06 MOTOR VEHICLE, OCEAN AND INLAND MARINE POLICIES. Insurance on automobiles, motorcycles, other motor vehicles, or on property insured by ocean marine, and inland marine policies as defined by section 70A.03, clause (3), against loss or damage by fire, when combined in one p…

65A.061 CREDITORS LIMITED TO EXISTING INSURANCE. When a creditor requires a debtor to provide insurance on real or personal property security against reasonable risks of loss, damage, or destruction, no insurance shall be sold or placed by or through the creditor if the debtor pr…

65A.07 CANCELLATION OF FIRE POLICY. Any fire insurance company which has not collected the premium on its policy at the time of the delivery thereof may print or endorse, or attach by rider, on its policy the following clause: "If the insured hereunder shall not have actually pai…

65A.08 SPECIAL PROVISIONS. § Subdivision 1. [Repealed, 1979 c 175 s 1] § Subd. 2.Amount collectible. (a) In the absence of any change increasing the risk, without the consent of the insurer, of which the burden of proof shall be upon it, and in the absence of intentional fraud on…

65A.09 INSURANCE IN EXCESS OF REPLACEMENT COST. § Subdivision 1.Insurance limited. No company shall knowingly issue any policy upon property in this state for an amount which, together with any existing insurance thereon, exceeds the replacement cost of the buildings and any othe…

65A.10 LIMITATION. § Subdivision 1.Buildings. Nothing contained in sections 65A.08 and 65A.09 shall be construed to preclude insurance against the cost, in excess of actual cash value at the time any loss or damage occurs, of actually repairing, rebuilding or replacing the insure…

65A.11 PAYMENT TO MORTGAGEE. When the whole, or any part, of the loss is payable, in terms or otherwise, to or for one or more mortgagees, upon proof before payment of the rights of the parties, the company shall pay the same in the order of priority to the extent of its liabilit…

65A.12 WAIVER OF RIGHT TO APPRAISAL. § Subdivision 1.Right to appraisal. Any person who shall not, within 20 days after written request, appoint a qualified appraiser, as provided in the policy, shall at the election of the other party be deemed to have waived the right to apprai…

65A.13 LIABILITY OF COMPANY. Notwithstanding any penalty prescribed for the making, issuing, or delivery of any policy in violation of any provision of law, every such policy shall be binding upon the company issuing the same. History: 1967 c 395 art 6 s 13

65A.14 PERSON WHO PROCURES AN APPLICATION AGENT OF ISSUING COMPANY. Every person who solicits insurance and procures an application therefor shall be held to be the agent of the party afterward issuing insurance thereon or a renewal thereof. History: 1967 c 395 art 6 s 14

65A.15 VIOLATION. Every company and every agent who shall willfully make, issue, or deliver a policy in violation of sections 65A.01, 65A.02, and 65A.03 shall be guilty of a gross misdemeanor; but every stipulation of the policy in favor of the insured shall, nevertheless, be bin…

65A.16 GUARANTY SURPLUS AND SPECIAL RESERVE FUND. Any insurance company organized under the laws of this state authorized to transact a fire insurance business may create the funds herein provided for, to be known and designated as the guaranty surplus fund and the special reserv…

65A.17 ACTION OF STOCKHOLDERS FILED WITH COMMISSIONER. Any such insurance company, desiring to create such funds, may do so if such action is authorized by its stockholders, upon the adoption of a resolution to that effect by its board of directors at a regular meeting of the boa…

65A.18 DIVIDENDS DECLARED OUT OF SURPLUS PROFITS. After the date of filing any such resolution with the commissioner, the company shall not make or declare or pay in any form any dividend upon its capital stock, exceeding eight percent per annum thereupon and six percent per annu…

65A.19 EXAMINATION. When the company shall notify the commissioner that it has fulfilled the requirements already expressed in sections 65A.16 to 65A.24, and that its guaranty surplus fund and its special reserve fund, taken together, equal its capital stock or amount to the sum …

65A.20 ITEMS CONSIDERED IN ESTIMATING PROFIT. In estimating the profit of any such company for the purpose of making a division thereof between the guaranty surplus fund and the special reserve fund, until these funds shall together amount to a sum equal to the capital stock of t…

65A.21 INVESTMENT OF GUARANTY SURPLUS. The guaranty surplus shall be held and be invested by the company in the same manner as its capital stock and surplus accumulation may be held and be invested, and shall be liable and applicable in the same manner as the capital stock to the…

65A.22 INVESTMENT OF SPECIAL RESERVE FUND. The special reserve fund shall be invested according to existing laws relating to investments of capital by fire insurance companies and shall be deposited, from time to time, as the same shall accumulate and be invested, with the commis…

65A.23 WHEN CLAIMS EXCEED GUARANTY SURPLUS AND CAPITAL STOCK. (1) When the claims upon the company shall exceed the amount of its capital stock and of guaranty surplus fund, provided for by sections 65A.16 to 65A.24, and of its surplus funds, other than the special reserve fund, …

65A.24 STOCKHOLDERS TO MAKE UP IMPAIRMENT. If, at any time after the special reserve fund shall have been accumulated by any company, the directors of the company shall present evidence satisfactory to the commissioner that the capital of the company has become impaired, the comm…

65A.26 HAIL INSURANCE, POLICIES, LOSS ADJUSTMENT. Every policy of insurance against damage by hail issued by any company, however organized, must provide as follows: "In case of loss under this policy, and failure of the parties to agree as to the amount of the loss, it is mutual…

65A.27 DEFINITIONS. § Subdivision 1.Scope. For purposes of sections 65A.27 to 65A.302, the following terms have the meanings given. § Subd. 2.Commissioner. "Commissioner" means the commissioner of commerce. § Subd. 3.Decline or declination. "Decline" or "declination" means an age…

65A.28 DISCLOSURE AND FILING REQUIREMENTS. § Subdivision 1.Annual report. Each insurer writing homeowner's insurance for property located in the metropolitan area or a statutory or home rule charter city of the first class shall compile and file annually with the commissioner on …

65A.285 SURCHARGE PROHIBITION. § Subdivision 1.Surcharge prohibition. An insurer may not impose a surcharge on homeowners insurance solely as a result of a consumer inquiry. § Subd. 2.Definitions. For purposes of this section: (1) "consumer inquiry" means a telephone call or othe…

65A.29 CANCELLATION; NONRENEWAL; REFUSAL TO WRITE. § Subdivision 1.Cancellation. No insurer may cancel a policy of homeowner's insurance except for the reasons specified in section 65A.01. § Subd. 2. [Repealed, 1984 c 602 s 6] § Subd. 3.Refusal to write. Upon completion in writin…

65A.295 HOMEOWNER'S INSURANCE COVERAGE. (a) Every insurer writing homeowner's insurance in this state shall make available at least one form of homeowner's policy for each level of peril coverage offered by the insurer in which the insured has the option to specify the dollar amo…

65A.296 PROOF OF LOSS. § Subdivision 1.Notice from insurer. After receiving written notice of a claim by an insured on a homeowner's insurance policy, the insurer may notify the insured that the insurer may deny the claim unless a completed proof of loss is received by the insure…

65A.297 ACTIVE DUTY MEMBER OF ARMED SERVICES RESERVE OR NATIONAL GUARD; USE IN UNDERWRITING PROHIBITED. No insurer, including the Minnesota FAIR plan, shall refuse to renew, decline to offer or write, reduce the limits of, cancel, or charge differential rates for equivalent cover…

65A.298 HOMEOWNER'S INSURANCE; FORTIFIED PROGRAM STANDARDS. § Subdivision 1.Definitions. (a) For purposes of this section the following term has the meaning given. (b) "Insurable property" means a residential property designated as meeting Fortified program standards that include…

65A.299 STRENGTHEN MINNESOTA HOMES PROGRAM. § Subdivision 1.Short title. This section may be cited as the "Strengthen Minnesota Homes Act." § Subd. 2.Definitions. (a) For purposes of this section, the terms in this subdivision have the meanings given. (b) "Insurable property" has…

65A.30 DAY CARE SERVICES; COVERAGE. § Subdivision 1.No coverage. There shall be no coverage under a day care provider's homeowner's insurance for losses or damages arising out of the operation of day care services unless: (1) specifically covered in a policy; or (2) covered by a …

65A.301 ADULT FOSTER CARE SERVICES; COVERAGE. § Subdivision 1.No coverage. There shall be no coverage under a foster care for adults provider's homeowner's insurance policy for losses or damages arising out of the operation of foster care for adults services unless: (1) specifica…

65A.302 FLOOD INSURANCE COVERAGE; DISCLOSURE OF NONCOVERAGE. Every insurer shall annually provide a written notice to the policyholder entitled "Important Information About Damage Caused by Flooding." This title must be in at least 18-point type. The notice must disclose that the…

65A.3025 CONDOMINIUM AND TOWNHOUSE POLICIES; COORDINATION OF BENEFITS FOR LOSS ASSESSMENT. § Subdivision 1.Definitions. (a) For purposes of this section, the following terms have the meanings given. (b) "Assessable loss" means a covered loss under the terms of a policy governed b…

65A.303 HOMEOWNER'S LIABILITY INSURANCE; DOGS. § Subdivision 1.Discrimination prohibited. An insurer writing homeowner's insurance for property is prohibited from (1) refusing to issue or renew an insurance policy or contract, or (2) canceling an insurance policy or contract base…

65A.31 MINNESOTA FAIR PLAN ACT. Sections 65A.31 to 65A.42 shall be known and may be cited as the "Minnesota FAIR Plan Act." History: 1969 c 483 s 1; 1993 c 248 s 2

65A.32 PURPOSES. The purposes of sections 65A.31 to 65A.42 are: (1) to encourage stability in the property and liability insurance market for property located in this state; (2) to encourage maximum use, in obtaining property and liability insurance, as defined in sections 65A.31…

65A.33 DEFINITIONS. § Subdivision 1.Scope. As used in sections 65A.31 to 65A.42, unless the context otherwise requires, the terms defined in this section have the following meanings given to them. § Subd. 2.Insurer. "Insurer" means any insurance company or other organization lice…

65A.34 PLAN COVERAGE. § Subdivision 1.Application. Any person having an insurable interest in real or tangible personal property who has been canceled, nonrenewed, or otherwise rejected for coverage in the private market may submit an application for coverage to the plan. If an i…

65A.35 ADMINISTRATION. § Subdivision 1.Membership. Each insurer authorized to write and engaged in writing within this state, on a direct basis, property or liability insurance or any component of this insurance contained in a multiperil policy, including homeowners and commercia…

65A.36 UNDERWRITING. § Subdivision 1.Evaluation of risk. Agents are not permitted to bind coverage. The Minnesota FAIR plan shall issue a policy if the risk meets preliminary underwriting requirements. The plan may request an inspection report to obtain further underwriting infor…

65A.37 POLICY FORMS. All policies must be on standard policy forms issued for a term of one year and approved by the commissioner. History: 1969 c 483 s 7; 1986 c 455 s 47; 1993 c 248 s 10; 1999 c 120 s 9; 2003 c 40 s 14; 2008 c 344 s 41

65A.375 RATES. The commissioner shall set the insurance rates for cooperative housing, organized under chapter 308A, and for neighborhood real estate trusts, characterized as nonprofit ownership of real estate with resident control. The rates must be actuarially sound. All other …

65A.38 POLICY CANCELLATION. § Subdivision 1.Reasons. The Minnesota FAIR plan shall not cancel a policy issued under sections 65A.31 to 65A.42 except: (1) for cause which would have been grounds for nonacceptance of the risk under the program had the cause been known to the plan a…

65A.39 APPEALS. (a) Any applicant or participating insurer shall have the right of appeal to the board of directors, which shall promptly determine the appeal. A decision of the board may be appealed to the commissioner within 30 days from notice of the action or decision. The co…