MI HB4049

Increases catastrophic claims association indemnification thresholds for personal protection insurance, with the current threshold of $545,000 (for policies issued July 1, 2015 to June 30, 2017) to increase biennially on July 1 of odd-numbered years by the lesser of 6% or consumer price index, rounded to nearest $5,000.

Requires the association to disclose annually on its website within 15 days of charging members premiums all data used in computing premiums and expected losses, including actuarial computations, assumptions, loss development analysis, trend analysis, annuity models, and explanatory memoranda.

Changes terminology from "shall" to "must" and updates references from "commissioner" to "director of the department" throughout the section for clarity and consistency.

Modifies board governance requirements to specify the director of the department appoints the 5 voting directors (who must contribute at least 40% of total premiums) and serves as non-voting ex officio member.

Removes or streamlines previous subsections (17) and (18) regarding plan of operation submission procedures to the commissioner and their approval timeline, replacing with simplified requirements for board approval and membership ratification.