Minn. R. agency 120, ch. 2770, AUTO INSURANCE NONRENEWALS, pt. 2770.8500

Current through Register Vol. 49, No. 24, December 9, 2024

Part 2770.8500 - PENALTIES

Subpart 1.Generally.

Failure to comply with parts 2770.7500 to 2770.8500 subjects the insurers to the following penalties during each calendar year period:

A. first violation, $100;

B. second violation, $300; and

C. third and subsequent violation, $500.

Monetary penalties must be waived if the commissioner determines that the nonrenewal notice was based on a good faith judgment supported by evidence that was in the possession of the insurer at the time of the sending of the nonrenewal notice, or if the nonrenewal was subject to the waiver of penalty provisions in part 2770.7800, subpart 1, item H.

Subp. 2.Disapproval by commissioner.

Any nonrenewal of a policy in violation of parts 2770.7500 to 2770.8500 must be disapproved by the commissioner of commerce under Minnesota Statutes, section 65B.21.

Subp. 3.Additional penalties.

Nothing contained in this part prohibits the commissioner of commerce from applying additional penalties or remedies as may be imposed under Minnesota Statutes, chapter 72A.

Subp. 4.Application and effective date.

Monetary penalties become effective for any nonrenewal in violation of parts 2770.7500 to 2770.8500 sent on or after January 1, 1984.

Minn. R. agency 120, ch. 2770, AUTO INSURANCE NONRENEWALS, pt. 2770.8500

9 SR 764

Statutory Authority: MS s 65B.17