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MI HB4070
Bill
Status
1/22/2009
Primary Sponsor
Tory Rocca
Click for details
AI Summary
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Prohibits automobile insurers from increasing premiums during the policy term after the premium has been billed and paid in whole or in part by the insured.
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Allows automobile insurers to increase premiums if the original premium was based on materially incorrect information provided by the applicant or insured.
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Allows automobile insurers to increase premiums if the insured requests a change in policy terms or coverages.
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Applies the same premium increase restrictions to home insurers as apply to automobile insurers under the same conditions and exceptions.
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Adds Section 2111b to the Michigan Insurance Code of 1956.
Legislative Description
Insurance; essential; increasing premium during term of policy; prohibit except in certain situations. Amends 1956 PA 218 (MCL 500.100 - 500.8302) by adding sec. 2111b.
Insurance, essential
Last Action
Referred To Committee On Economic Development And Regulatory Reform
5/5/2009