Chapter 62I — Minnesota Joint Underwriting Association Act

15.001 Application of Laws 2005, Chapter 56, Terminology Changes State agencies must use updated terminology from a 2005 law when they replace printed materials and signs. They do not … 62I.001 This section is a cross-reference that directs readers to section 15.001 for the applicable terminology changes. It does … 62I.01 Citation This chapter can be called the 'Minnesota Joint Underwriting Association Act.' It covers sections 62I.01 through 62I.22. 62I.02 Minnesota Joint Underwriting Association The Minnesota Joint Underwriting Association provides insurance to people and businesses in Minnesota that cannot get … 62I.03 Definition This section defines the key terms used in the Joint Underwriting Association Act, including what the association, … 62I.04 Policy Issuance Any Minnesota resident who has been refused insurance coverage by a licensed insurer can apply to the Joint Underwriting … 62I.05 Plan of Operation The association must have a plan of operation approved by the commissioner of commerce. The plan must provide for fair … 62I.06 Policy Forms; Premium Rate Insurance policies from the association must use standard policy forms similar to those in the private market. Rates … 62I.07 Membership Assessments Each member insurer shares in the association losses and expenses based on the proportion of their direct written … 62I.08 Application Procedure Anyone who has been denied insurance coverage in the private market can apply to the Joint Underwriting Association. The … 62I.09 This section has been repealed and is no longer in effect. It was removed in 2003. 62I.10 This section has been repealed and is no longer in effect. It was removed in 2003. 62I.11 This section has been repealed and is no longer in effect. It was removed in 2003. 62I.12 This section has been repealed and is no longer in effect. It was removed in 1989. 62I.121 Benefits for Employees The association board can choose to let employees participate in the state retirement plan, the state deferred … 62I.13 Action by the Minnesota Joint Underwriting Association Upon the Application This section sets the rules for how the association decides whether to approve or deny an insurance application. … 62I.14 Assessments If the commissioner orders an assessment on member insurers, each insurer must pay within 30 days. The commissioner can … 62I.15 Extension of Coverage If an applicant meets the association underwriting standards and pays the premium, the association must issue an … 62I.16 Stabilization Reserve Fund The association collects a 33 percent surcharge on premiums from policyholders to build a stabilization reserve fund. … 62I.17 Immunity From Liability The association, its board members, employees, agents, and the commissioner are protected from lawsuits for actions … 62I.18 Right of Appeal Anyone who applies to the association, is insured through it, or is an affected insurer can appeal decisions to the … 62I.19 Annual Statements The association must file an annual report with the commissioner of commerce about its finances, operations, and … 62I.20 This section has been repealed and is no longer in effect. 62I.21 Activation of Joint Underwriting Association The commissioner of commerce can activate the Joint Underwriting Association for a new class of business when someone is … 62I.22 Hearing This section outlines the hearing process for deciding whether to keep the Joint Underwriting Association active for a …