Section 62I.01 — Citation.
62I.01 CITATION. Sections 62I.01 to 62I.22 may be cited as the “Minnesota Joint Underwriting Association Act.” History: 1986 c 455 s 20
Section 62I.02 — Minnesota Joint Underwriting Association.
62I.02 MINNESOTA JOINT UNDERWRITING ASSOCIATION. Subdivision 1. Creation. The Minnesota Joint Underwriting Association is created to provide insurance coverage to any person or entity unable to obtain insurance through ordinary methods if the insurance is required by statute, ordinance, or otherwise required by law, or is necessary to earn a livelihood or conduct a business […]
Section 62I.03 — Definition.
62I.03 DEFINITION. Subdivision 1. Scope. As used in sections 62I.01 to 62I.22 the following terms have the meanings given them in this section. Subd. 2. Association. “Association” means the Minnesota Joint Underwriting Association and incorporates the duties and responsibilities of the Medical Malpractice Joint Underwriting Association previously authorized by chapter 62F. Subd. 3. Commissioner. “Commissioner” […]
Section 62I.04 — Policy Issuance.
62I.04 POLICY ISSUANCE. Any person or entity that is a resident of the state of Minnesota who has a current notice of refusal to insure from an insurer licensed to offer insurance in the state of Minnesota may make written application to the association for coverage. The applicable premium or required portion of it must […]
Section 62I.05 — Plan Of Operation.
62I.05 PLAN OF OPERATION. The association shall have a plan of operation which shall be consistent with the provisions of this chapter and that provides for economic, fair, and nondiscriminatory administration and for the prompt, efficient provision of insurance coverage of the types provided by section 62I.02. It shall provide for an expedited review and […]
Section 62I.06 — Policy Forms; Premium Rate.
62I.06 POLICY FORMS; PREMIUM RATE. Subdivision 1. Requirement. The policies and contracts of coverage issued pursuant to this chapter shall contain the usual and customary provisions of similar insurance policies issued by private insurance companies. If a standard form is used in the private marketplace for any type of coverage that is to be extended […]
Section 62I.07 — Membership Assessments.
62I.07 MEMBERSHIP ASSESSMENTS. Subdivision 1. Assessment. Each member of the association shall participate in its losses and expenses in the proportion that the direct written premiums of the member on the kinds of insurance in that account bears to the total aggregate direct written premiums written in this state by all members on the kinds […]
Section 62I.08 — Application Procedure.
62I.08 APPLICATION PROCEDURE. A person or entity that has been denied coverage or is unable to find an insurer willing to write coverage is eligible to make an application to the association. To show eligibility to participate in the association the applicant shall certify that the applicant has been unable to find the coverage sought […]
Section 62I.121 — Benefits For Employees.
62I.121 BENEFITS FOR EMPLOYEES. At the option of the board, employees may participate in the state retirement plan and the state deferred compensation plan for employees in the unclassified service, and an insurance plan administered by the commissioner of management and budget under chapter 43A. History: 1992 c 564 art 1 s 44; 2008 c […]
Section 62I.13 — Action By The Minnesota Joint Underwriting Association Upon The Application.
62I.13 ACTION BY THE MINNESOTA JOINT UNDERWRITING ASSOCIATION UPON THE APPLICATION. Subdivision 1. Generally. To be eligible to participate in the association, an applicant must apply for coverage as required by this section and section 62I.08. Subd. 2. Minimum of qualifications. Anyone who is unable to obtain insurance in the private market and who so […]
Section 62I.14 — Assessments.
62I.14 ASSESSMENTS. In the event the commissioner orders an assessment, an assessed insurer must pay the assessment within 30 days of receipt of notice of the assessment. The commissioner may suspend or revoke an insurer’s certificate of authority and impose a civil penalty in an amount not to exceed $10,000 for an insurer’s failure to […]
Section 62I.15 — Extension Of Coverage.
62I.15 EXTENSION OF COVERAGE. If the association determines that the applicant meets the underwriting standards of the association as described in the plan of operation and section 62I.13, the association upon receipt of the premium or portion of it as described in the plan of operation shall issue a policy of insurance to the applicant. […]
Section 62I.16 — Stabilization Reserve Fund.
62I.16 STABILIZATION RESERVE FUND. Subdivision 1. Creation. There is created a stabilization reserve fund. Each policyholder shall pay to the association a stabilization reserve fund charge of 33 percent of each premium payment due for insurance through the association. This charge shall be separately stated in the policy. The association shall cancel the policy of […]
Section 62I.17 — Immunity From Liability.
62I.17 IMMUNITY FROM LIABILITY. No cause of action of any nature shall arise against the association, the members of its board of directors, its employees or authorized agents, the commissioner or the commissioner’s authorized representatives, or any other person or organization, for any action or omission made in good faith by them concerning any matters […]
Section 62I.18 — Right Of Appeal.
62I.18 RIGHT OF APPEAL. Any applicant to the association, any person insured pursuant to this chapter or their representatives, any affected insurer, or any person who has applied for coverage pursuant to this chapter may appeal to the commissioner within 30 days after any ruling, action, or decision by or on behalf of the association […]
Section 62I.19 — Annual Statements.
62I.19 ANNUAL STATEMENTS. Annually, the association shall file with the commissioner a report of its transactions, financial conditions, and operations during the preceding year. The report shall be in a format approved by the commissioner. The commissioner may at any time require the association to furnish additional information to assist in evaluating the scope, operation, […]
Section 62I.21 — Activation Of Joint Underwriting Association.
62I.21 ACTIVATION OF JOINT UNDERWRITING ASSOCIATION. Upon submission of an application for placement of general liability insurance coverage under section 62I.13 in a class of business for which the Joint Underwriting Association is not then activated, where the applicant has been refused coverage within the meaning of section 62I.13, subdivision 2, the commissioner may by […]
Section 62I.22 — Hearing.
62I.22 HEARING. Subdivision 1. Administrative law judge. The commissioner shall forward a copy of the petition to activate the Joint Underwriting Association with respect to a class of business to the chief administrative law judge. The chief administrative law judge shall, within three business days of receipt of the copy of the petition, set a […]