Minnesota HF2460 amends time requirements for midterm policy cancellation in insurance.

Minnesota HF2460 amends the time requirements for midterm policy cancellation in insurance. The bill specifies that if a policy is less than 60 days old and is declined or canceled, notice must be mailed to the insured at least 60 days before the effective cancellation date. For nonrenewal, notice must be mailed at least 60 days before the effective date of nonrenewal, including the specific underwriting or other reason for the action. This amendment does not apply to commercial policies regulated under sections 60A.36 and 60A.37.

Minnesota HF2460 amends time requirements for midterm policy cancellation in insurance.

Minnesota HF2460 amends the time requirements for midterm policy cancellation in insurance. The bill specifies that if a policy is less than 60 days old and is declined or canceled, notice must be mailed to the insured at least 60 days before the effective cancellation date. For nonrenewal, notice must be mailed at least 60 days before the effective date of nonrenewal, including the specific underwriting or other reason for the action. This amendment does not apply to commercial policies regulated under sections 60A.36 and 60A.37.