Time requirements amendment for midterm policy cancellation

This bill amends Minnesota insurance law to require insurers to provide 60 days' written notice before canceling certain policies. It applies to policies less than 60 days old that are declined or canceled for nonpayment, and to midterm cancellations for specified reasons. The bill replaces the current 20-day requirement for some cancellations and 30-day requirement for others with a uniform 60-day notice period. This directly affects individual insurance policyholders who may face coverage loss, giving them more time to address issues or secure new coverage.