The Minnesota Senate today passed a commerce policy omnibus bill that includes many provisions to help consumers with the challenges they face in their daily lives. With protections benefitting seniors, delaying expensive changes to Medigap plans, and simplifying survivorship issues, the good sections in this bill outweigh the troublesome concerns.
“While not perfect, this legislation includes many provisions to help consumers with challenges they face in their daily lives,” Senator Gary Dahms (R-Redwood Falls), Republican lead of the Commerce and Consumer Protection Committee, said. “By listening to stakeholder feedback and working to find common ground, the end product reflects legislation supported by both parties. I appreciate the process in which this bill came together.”
This legislation includes key insurance-related proposals championed by Republicans, including a provision introduced by Sen. Dahms that is focused on township municipal fire insurance. This is a type of insurance that is restricted to operating in no more than 20 counties. The omnibus bill allows these companies that merge to provide coverage in up to 30 counties, without automatically dropping consumers due to hitting the county cap. This keeps this insurance accessible to more Minnesotans.
Additionally, the commerce policy omnibus includes language introduced by Sen. Dahms to make it easier for those at risk of losing insurance to get coverage through an out-of-state plan, called a surplus line. Right now, a person must be denied several times before they can get covered via surplus lines. The change makes a referral to a surplus line the only requirement, saving consumers time and money.
“Access to affordable and reliable insurance is one of the most important missions within the commerce bill,” Sen. Dahms said. “These two provisions will help more Minnesotans maintain access to insurance for when crisis hits their homes, farms, and businesses.”
Another significant Republican proposal included in this legislation is a provision to make it easier for people dealing with Transfer of Death Deeds (TODD). “This is an instance where we can make sure a good deed does not get punished,” Senator Warren Limmer (R-Maple Grove) said. “Making these changes recognizes that after someone dies, small technical issues can get resolved without invalidating the entire transfer of property to a loved one. Technical details can nullify the grantor’s wishes and cost the family precious time or money.” The TODD changes help families that made merely technical errors on legal forms protect their homes and ensure continuity of insurance on the property.
“Several sections of this bill overreach or require further refinement to effectively serve Minnesotans,” Sen. Dahms said. “While the effort to simplify terminating a contract is commendable, the bill’s language burdens businesses with difficult compliance, ultimately denying both businesses and consumers the promised advantages.”
During the floor debate, Republicans offered several amendments to strengthen the bill, including language to make protections for virtual currency kiosk users work better. These amendments aimed to do more to accomplish the goals of protecting consumers and reducing the costs they pay. Unfortunately, Democrats, refused to accept any of the proposed changes.