S.F. No. 3060 - Summary

• Expands the definition of "policy" under affinity group insurance regulations to include individually underwritten policies for domestic animals and motor/other vehicles or aircraft, in addition to existing private passenger vehicle and homeowner's insurance.

• Allows policyholders whose coverage is transferred to an insurer affiliate to have their signed documents remain valid and enforceable to the same extent as policy renewals, provided the affiliate complies with section 60A.351.

• Prohibits persons convicted of insurance fraud, employment of runners, or federal/state fraud crimes related to no-fault automobile insurance from enforcing contracts for payment of eligible services against insureds or reparation obligors.

• Allows persons convicted of insurance fraud to apply to district court after five years to extinguish the collateral sanction, subject to court discretion.