Minn. R. agency 120, ch. 2880, pt. 2880.0300
Current through Register Vol. 49, No. 24, December 9, 2024
Part 2880.0300 - WAIVER OF PENALTIES If an insurer encounters a situation in which the insurer believes that the nonrenewal is not addressed by parts 2880.0050 to 2880.0800, the insurer may seek a waiver of penalties under the following procedure:
A. Notify the commissioner in writing, at least 90 days prior to the policy renewal date, by referring to this part and by stating the reasons for the proposed nonrenewal action.B. If the commissioner determines that the situation is not covered by parts 2880.0050 to 2880.0800, but warrants a nonrenewal, the penalties in part 2880.0800 must be waived. The commissioner may decline to render an opinion.C. The waiver of penalty decision must be retained by the insurer. A copy of the waiver of penalty decision must be returned to the commissioner by the insurer with its response to a written complaint made by the insured.D. The commissioner's decision regarding waiver of penalties will have no bearing on the final decision as to the approval or disapproval of the nonrenewal action.E. There is no precedential value in the commissioner's action under this part and each request must be judged on individual considerations.Minn. R. agency 120, ch. 2880, pt. 2880.0300
Statutory Authority: MS s 65A.29