MI HB4079

Eliminates the "file and use" system for automobile and home insurance rates, requiring insurers to file rates in accordance with Chapter 24 before using them.

Changes requirement from "may file and use rates as soon as those rates are filed" to "shall file and use rates in accordance with chapter 24," establishing a mandatory pre-approval process.

Requires insurers to file classifications, rules, rates, and rating plans with the director before proposing their use for automobile or home insurance.

Applies to insurance policies issued or renewed 90 days after the bill's effective date.

Maintains existing provisions allowing insurers to file through rating organizations and to designate trade secrets, with information subject to public inspection unless designated and approved as trade secrets.