MI HB6082

Amends the catastrophic claims association provisions of Michigan's Insurance Code of 1956 to clarify the association's status as an unincorporated, nonprofit association and streamline language throughout the section.

Establishes indemnification thresholds for personal protection insurance coverage that increase biennially beginning July 1, 2013, adjusted by the lesser of 6% or the consumer price index and rounded to the nearest $5,000, with the base amount set at $500,000 for policies issued or renewed July 1, 2011 to June 30, 2013.

Requires that if the catastrophic claims association ceases to exist, any excess funds collected shall be used to pay ultimate loss amounts for which the association had indemnification obligations, and after the death of the last individual entitled to benefits, remaining excess funds shall be distributed pro rata to Michigan licensed drivers.

Modifies the plan of operation approval process by removing the requirement for a 60-day initial submission deadline and streamlining commissioner review procedures for proposed plans and amendments.

Clarifies that premiums charged by the association to member insurers shall be recognized in rate-making procedures for insurance rates in the same manner as expenses and premium taxes.