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House committee sends MNIGA affidavit bill to General Register after bipartisan support
Summary
The House Commerce, Finance and Policy Committee advanced House File 1014, a bill that would allow the Minnesota Insurance Guarantee Association to assume a policyholder exceeds the high-net-worth threshold if the policyholder does not return a requested affidavit within 60 days.
House File 1014, a proposal to change how the Minnesota Insurance Guarantee Association (MNIGA) determines whether a policyholder meets a $25 million “high net worth” exclusion, was re‑referred to the General Register after a voice vote by the House Commerce, Finance and Policy Committee on Feb. 20.
The bill would permit MNIGA to treat a policyholder as exceeding the net‑worth threshold if the policyholder fails to return a requested affidavit within 60 days. The change is intended to prevent…
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