HB 4488 Summary

• Allows individuals to select one of four levels of personal protection insurance benefits ($250,000, $500,000, $1,000,000, or unlimited) when applying for or renewing automobile insurance policies.

• Limits insurers' coverage for attendant care in the home to 56 hours per week when provided by family members, household members, or persons with prior business/social relationships to the injured person.

• Creates the Michigan Automobile Insurance Fraud and Theft Prevention Authority beginning January 1, 2018, with a 15-member board including insurer representatives, law enforcement, prosecutors, and the public to combat insurance fraud and vehicle theft through financial support to law enforcement and prosecutorial agencies.

• Increases the Catastrophic Claims Association's liability thresholds biennially, with the next adjustment to $545,000 effective July 1, 2015, and continuing adjustments based on inflation (lesser of 6% or consumer price index).

• The authority dissolves January 1, 2023, with assets transferred to the Department of State Police to reinstate the automobile theft prevention authority.