SF 2512 is a narrow housekeeping bill that updates Minnesota Statutes section 45.0135, subdivision 7, governing annual assessments paid by insurers into the insurance fraud prevention account. The bill removes obsolete language tied to the assessment schedule and clarifies the current assessment amounts that apply beginning with the June 1, 2024 payment date. It retains the existing structure that bases the assessment on both an insurer’s total assets and Minnesota written premium, with tiered dollar amounts for smaller, mid-sized, and larger insurers.
The bill also preserves the list of entities excluded from the definition of insurers for this assessment, including risk retention groups and township mutuals organized under chapter 67A. In practical terms, the measure does not create a new program or change the purpose of the fraud prevention account; it primarily modernizes statutory language and aligns the statute with current assessment timing and amounts.
Impact
The bill amends a single commerce-related statute affecting insurers authorized to do business in Minnesota and, specifically, the annual assessment they must remit to the insurance fraud prevention account. It updates obsolete language in the assessment provision and leaves the underlying assessment framework intact, so the main legal effect is statutory cleanup rather than a substantive policy change. Insurers subject to the assessment, including surplus lines carriers with Minnesota earned premium, remain responsible for annual payments based on asset and premium thresholds, while risk retention groups and township mutuals remain excluded.
Sentiment
The available context suggests the bill is noncontroversial and technical in nature. It was introduced and referred to the Senate Commerce and Consumer Protection Committee, and there is no recorded committee transcript or vote history indicating opposition or debate. The caption, "Obsolete language removal," also signals that the measure is intended as a routine statutory update rather than a contested policy proposal.
Contention
No specific points of contention are documented in the available materials. Because the bill is limited to removing obsolete language and restating assessment amounts, any potential concern would likely be limited to the insurance industry’s ongoing assessment obligations or the inclusion of certain carriers in the assessment base. However, the bill text preserves the existing framework and exclusions, and there is no evidence in the record provided of disagreement among legislators, insurers, or other stakeholders.