MI HB4429

Increases the catastrophic claims association board from 5 to 9 directors, including 4 members contributing at least 40% of total premiums, 1 member contributing not more than 1% of premiums, 1 insurance agent representative, and 3 public representatives.

Changes the insurance commissioner's role from board member with vote to ex officio member without vote, requiring annual reporting to legislature on matters of public interest.

Increases board meeting quorum requirement from 4 to 6 members and establishes that any 5 board members may request a meeting.

Raises the catastrophic claims indemnification threshold to $500,000 for policies issued July 1, 2011 through June 30, 2013, with biennial adjustments thereafter by the lesser of 6% or the consumer price index, rounded to nearest $5,000.

Takes effect January 1, 2010.