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Bill

SF 3291

Surplus lines brokers notice provisions modifications

2025-2026 Regular Session Introduced by Gary Dahms

Bill modifies surplus lines broker notice requirements to update disclosure timing and procedures for non-admitted insurance placements in Minnesota.

Referred to Commerce and Consumer Protection
#commerceandcommercedepartment #insurance
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Bill Summary · SF 3291

Legislative bill overview

SF 3291 modifies notice requirements that surplus lines brokers must provide to insurance customers in Minnesota. The bill adjusts when and how brokers inform clients about coverage placed through non-admitted (surplus lines) insurance markets rather than standard admitted insurers.

Why is this important

Surplus lines insurance covers risks that traditional insurers won't accept, but it operates with less regulatory oversight. Clear notice requirements protect consumers by ensuring they understand they're getting coverage outside the standard insurance system, which may have different protections and claim-handling processes.

Potential points of contention

  • Consumer protection vs. regulatory burden: Stricter notices protect consumers but may increase compliance costs for brokers, potentially affecting small insurance agencies
  • Clarity of requirements: Changes to notice timing or content could create confusion about what information must be disclosed and when
  • Market access: Modified requirements might affect how quickly brokers can place difficult-to-insure risks, potentially impacting availability for high-risk customers

Compiled from official sources — confirm details with the bill’s official record.

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