HB 4752 Summary

• Amends the Insurance Code to clarify the Catastrophic Claims Association is an unincorporated, nonprofit association that provides indemnification for personal protection insurance losses exceeding specified thresholds.

• Establishes liability thresholds for motor vehicle accident policies ranging from $250,000 (policies issued before July 1, 2002) to $500,000 (policies issued July 1, 2011 onward), with the $500,000 threshold increasing biennially by the lesser of 6% or the consumer price index, rounded to the nearest $5,000.

• Creates a 5-member board of directors (plus the insurance commissioner as a nonvoting ex officio member) responsible for operating the association, with board composition requiring members contributing at least 40% of total premiums.

• Requires the association to disclose annually on its website all actuarial data, computations, and documents used in calculating premiums, including loss projections, discount rates, economic assumptions, and loss development analysis.

• Replaces references to the "commissioner" with "director of the department" throughout the section and updates statutory language from "shall" to "must" for modern drafting standards.