Bill Summary  
Senate Counsel & Research
  Senate  
State of Minnesota




S.F. No. 157 - Cancellation of Homeowner's Insurance
Author: Senator Linda Scheid
Prepared by: Matthew S. Grosser, Senate Research (296-1890)
Date: January 31, 2003

The bill requires insurers who send the premium billing for a homeowner's insurance to a residential mortgage servicer, with the expectation of payment from a mortgage escrow account, to notify the homeowner, and document and verify that notification, prior to cancellation of the homeowner's insurance. The bill prohibits an insurer from canceling a homeowner's policy where the premium payment is escrowed without ensuring that the homeowner has personally received notice and has had at least ten days to pay the premium after receiving notice.

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