Minnesota HF3026 modifies notice provisions for surplus lines brokers regarding eligible coverage through the Minnesota FAIR Plan.

Minnesota HF3026 amends the notice requirements for surplus lines brokers. If certain insurance coverages are available from a licensed insurer, the broker must inform the policyholder that they may be eligible for coverage through the Minnesota FAIR Plan. This includes mandatory automobile insurance, private passenger automobile physical damage coverage, and homeowners or property insurance on owner-occupied dwellings valued under $500,000. The notice must be printed in at least ten-point type on the policy.

Minnesota HF3026 modifies notice provisions for surplus lines brokers regarding eligible coverage through the Minnesota FAIR Plan.

Minnesota HF3026 amends the notice requirements for surplus lines brokers. If certain insurance coverages are available from a licensed insurer, the broker must inform the policyholder that they may be eligible for coverage through the Minnesota FAIR Plan. This includes mandatory automobile insurance, private passenger automobile physical damage coverage, and homeowners or property insurance on owner-occupied dwellings valued under $500,000. The notice must be printed in at least ten-point type on the policy.