HB 4551 Summary

• Increases the catastrophic claims association board from 5 to 6 directors, makes the insurance commissioner a voting member instead of ex officio non-voting member, and requires inclusion of 1 general public representative on the board.

• Establishes biennial adjustment of the personal protection insurance liability threshold starting July 1, 2013 at $500,000, adjusting by the lesser of 6% or consumer price index rounded to the nearest $5,000.

• Requires annual audits by independent certified public accountants to be conducted and delivered to the commissioner and legislative insurance committees, including assessment of the association's ability to meet obligations.

• Makes the catastrophic claims association subject to the Open Meetings Act (1976 PA 267) and Freedom of Information Act (1976 PA 442) regarding board meetings and records.

• Makes several technical amendments to Section 134 clarifying that associations and their money are not state agencies, are exempt from certain FOIA disclosures, and validating prior plans of operation and assessments retroactively.