Senate Bill 410 Summary

• Creates the Michigan Automobile Insurance Fraud and Theft Prevention Authority beginning January 1, 2010, replacing the previous Automobile Theft Prevention Authority and expanding its mission to address both insurance fraud and vehicle theft.

• Houses the new authority within the Michigan Automobile Insurance Placement Facility, with the facility providing staff and administrative support as directed by the authority's board of directors.

• Establishes a 13-member board of directors consisting of 7 insurer representatives, the insurance commissioner, attorney general, 2 law enforcement representatives, 1 prosecutor, and 1 public member.

• Requires automobile insurers writing policies in Michigan to pay an annual assessment of $2.00 per car year to fund the authority's operations, with a minimum of $6,000,000 annually dedicated to automobile theft prevention programs.

• Authorizes the authority to provide financial support to law enforcement, prosecutors, and other organizations for programs designed to reduce automobile insurance fraud and theft, and requires insurers to report fraud data to the authority.