MN SF650

Renames the "Division of Insurance Fraud Prevention" to the "Commerce Fraud Bureau" with authority to investigate insurance fraud offenses and conduct arrests under specified statutes.

Requires subpoenas issued by the commissioner to prohibit disclosure of the subpoena's issuance or provided records except as necessary to locate records or pursuant to court order.

Establishes new requirements for property and casualty insurers to submit annual statements of actuarial opinions of reserves, actuarial opinion summaries, and supporting documentation, with confidentiality protections for supporting materials effective December 31, 2013.

Modifies risk-based capital requirements for life and health insurers (changing multiplier from 2.5 to 3.0) and adds new requirements for property and casualty insurers effective December 31, 2013.

Increases real estate appraiser prelicense education requirements: trainee appraisers from 90 to 75 hours; licensed appraisers to 150 hours with associate degree requirement; certified residential from 120 to 200 hours with bachelor's degree requirement; certified general from 180 to 300 hours, all effective January 1, 2015.