HB 5878 Summary

• Increases catastrophic claims association liability thresholds for personal protection insurance with new tier ($555,000) effective July 1, 2017 through June 30, 2019, with biennial adjustments thereafter.

• Replaces references to "commissioner" with "director of the department" throughout the statute to reflect administrative reorganization.

• Requires the association to publicly disclose on its website within 15 days of charging premiums all data used in computing premiums, expected losses, and expenses, including actuarial computations, loss development analysis, mortality tables, and economic assumptions.

• Modifies board composition and governance procedures, including that the director of the department serves as a non-voting ex officio board member and appoints the 5 voting directors.

• Makes technical corrections to statutory language, including replacing "shall" with "must" and updating outdated references to reflect current agency terminology and procedures.