Minnesota Insurance Guarantee Association board can request financial information from insureds.

The bill allows the board of directors of the Minnesota Insurance Guarantee Association to request financial information from insureds to determine their net worth. If an insured fails to provide the requested information within 60 days, their net worth is deemed to exceed $25,000,000 for the board's evaluation of the claim. The request must inform the insured of the consequences of not providing the information.

Minnesota Insurance Guarantee Association board can request financial information from insureds.

The bill allows the board of directors of the Minnesota Insurance Guarantee Association to request financial information from insureds to determine their net worth. If an insured fails to provide the requested information within 60 days, their net worth is deemed to exceed $25,000,000 for the board's evaluation of the claim. The request must inform the insured of the consequences of not providing the information.