MI HB4111

Increases the catastrophic claims association liability threshold from $500,000 to $555,000 for motor vehicle accident policies issued or renewed during July 1, 2017 to June 30, 2019.

Requires biennial increases to the liability threshold beginning July 1, 2019, adjusted by the lesser of 6% or the Consumer Price Index, rounded to the nearest $5,000.

Mandates annual independent actuarial examinations of the association's affairs beginning July 1, 2020, with reports due by December 31 each year to the department director and legislative insurance committees.

Changes terminology throughout the statute by replacing "commissioner" with "director of the department" and updating various verb forms to align with modern statutory language conventions.

Removes outdated provisions regarding plan of operation submission procedures and approval timelines that are no longer applicable.