MN HF3943

Requires commercial general liability insurers to verify a residential builder's license number on the commissioner's contractor licensure website before issuing a policy under section 326B.701, subdivision 4.

Mandates insurers include the current license number of the licensee in the sale of commercial general liability insurance required for residential builders.

Requires the commissioner to send written notice to the insurer named on the licensee's application if a builder's license is suspended or terminated.

Requires insurers to send written notice to the commissioner at the same time a policy cancellation request is received from or notice is sent to the insured.

Maintains existing commercial general liability insurance requirements of $100,000 per occurrence and $300,000 aggregate limits for bodily injury and property damage.