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Mike Bryant
Mike Bryant
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Good Faith Insurance Law: Minnesota Has It Finally

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After years of debating the issue at the capital, Minnesota consumers finally have a Good Faith Insurance law. Years of questionable ads, commercials and claims by the Insurance industry were finally defeated. With the leadership of Senator Tarryl Clark and Representative Joe Atkins, a bill got to the Governors desk which he signed.

What does this mean for you? It means that your insurance company must negotiate your claim in good faith. It means that as a consumer who buys No-Fault, Uninsured, Underinsured and Homeowners you can no longer be forced to go to trial because the Insurance companies only down side is the policy limit. It means that when your own Insurance company mistreats you, you have a remedy. It should mean the settlement of more claims and for many people, no need to hire an attorney to get the benefits they paid for.

In comparison to other states the new Minnesota law does have some draw backs. It doesn’t apply to arbitrations. Workers compensation, Health and Dental and Life Insures are all exempt from the requirement. But, this change is much better to have then no law at all.

It truly is a victory for Minnesota consumers.