MI HB4423

Requires insurers to send policyholders an annual written notice with renewal or payment notices for automobile and home insurance describing the specific rating classifications used to determine rates and premiums.

Requires notice to explain how rates vary among insureds based on rating classifications, provide sources and procedures for obtaining additional premium calculation information, and describe procedures for appealing underwriting decisions.

Requires notice to include information about policyholders' rights under sections 2113 and 2114 to appeal rating plans, obtain rate documentation, appeal underwriting rules, request informal conferences, and file complaints with the commissioner.

Requires notice to describe the insurer's underwriting rules based on insurance eligibility points and those of its affiliates, and suggest policyholders contact their agent about eligibility for affiliate insurance or alternative rating plans with lower premiums.

Prohibits automobile insurers from listing the policyholder's portion of a Michigan Catastrophic Claims Association assessment on policy declaration pages or notices without commissioner approval and specific conditions, including listing it as a separate line item reflecting only the actual per-vehicle assessment amount without additional expenses.