MI HB4595

Allows insurers to grant reasonable exceptions to credit-based rates, rating classifications, or tier placement when an insured or applicant has experienced specified hardship events that directly influenced their credit information.

Qualifies for exceptions: catastrophic events, serious illness or injury, death of immediate family, divorce, identity theft, involuntary job loss of 3+ months, military deployment, predatory lending foreclosures, or other insurer-determined events.

Insurers may require written documentation of the event, proof of direct impact on credit, and requests must be made within 60 days of application or policy renewal, though insurers are not required to grant exceptions.

Insurers must inform applicants within 30 days of receiving sufficient documentation whether the exception request is approved, and must provide notice about the availability of exceptions and how to request them.

Act takes effect only if Senate Bill 300 and House Bills 4593, 4594, and 4596 are also enacted into law.