HB 6460 Summary

• Requires automobile insurers operating in Michigan to file a plan within 28 days providing relief to policyholders for policies in effect during the "stay home, stay safe" executive orders related to COVID-19.

• Insurers must offer policyholders either a 20% refund of premiums attributable to the order period or a credit of that amount applied to the next premium payment.

• Plans may account for premium reductions, refunds, and credits the insurer previously provided due to the stay home order, whether ordered by the insurance director or voluntarily.

• The insurance director must review filed plans for compliance and approve compliant plans or notify insurers of deficiencies requiring correction in an amended filing.

• "Stay home, stay safe order" refers to states of emergency or disaster declared under Michigan Executive Orders 2020-4, 2020-33, 2020-67, 2020-68, 2020-99, 2020-127, 2020-151, or any subsequent executive order addressing COVID-19.