ND SB2111

Increases life insurance death benefit coverage limit from $300,000 to $300,000 but reduces net cash surrender values from $100,000 to match the overall limit.

Raises health insurance coverage limits to $500,000 for basic hospital, medical, and surgical insurance or major medical insurance; maintains $300,000 for disability and long-term care insurance.

Increases annuity benefit coverage limit from $100,000 to $250,000 in present value, including net cash surrender and withdrawal values.

Extends stay of proceedings in insolvency cases from 60 days to 180 days to allow the guaranty association proper time for legal action.

Applies new coverage limits and procedures prospectively only to insurers placed under liquidation orders on or after the bill's effective date; prior insolvencies continue under previous law.