Minnesota Administrative Rules
Agency 120 - Commerce Department
Chapter 2880 - NONRENEWAL OF HOMEOWNERS INSURANCE
Part 2880.0800 - PENALTIES

Universal Citation: MN Rules 2880.0800

Current through Register Vol. 49, No. 13, September 23, 2024

Subpart 1. Generally.

An insurer failing to comply with parts 2880.0050 to 2880.0800 is subject to the following penalties during each calendar year period:

A. first violation, $100;

B. second violation, $300; and

C. third and subsequent violations, $500.

Subp. 2. Waiver.

Monetary penalties will not be levied 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 2880.0300.

Subp. 3. Additional penalties.

Nothing contained in parts 2880.0050 to 2880.0800 prohibits the commissioner of commerce from applying additional penalties or remedies as may be imposed under Minnesota Statutes, chapter 72A.

Statutory Authority: MS s 65A.29

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