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House passes bill allowing MN Insurance Guarantee Association to require net-worth affidavits be returned within 60 days
2766637 · March 25, 2025
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Summary
House File 1014 would presume noncompliance with MNIGA net-worth affidavits means the policyholder exceeds the $25 million threshold; the House passed the bill 132-0.
St. Paul — The Minnesota House on March 20 approved House File 1014, a bill intended to speed claims processing when property-and-casualty insurers are declared insolvent. The measure passed on third reading by a vote of 132-0.
Representative Liz Ryer, the bill's author, told the chamber that when an insurance company is liquidated, the Minnesota Insurance Guarantee…
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