MN HF4178

Creates a new law (Minnesota Statutes 60A.0812) establishing that insurance companies and reinsurers are absolutely liable when a covered loss occurs, regardless of whether the insured has paid or a final judgment has been entered.

Grants injured parties, their heirs, or representatives a direct right of action against insurance companies and reinsurers up to policy limits, even if the policy forbids direct action or was not written in Minnesota, provided the cause of action arose in Minnesota.

Allows injured parties to sue the insurance company alone or jointly with the insured person.

Preserves the right of injured parties to pursue subrogated claims against the insurance company after obtaining a final judgment against the insured, if they initially sued only the insured.