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MI HB6001
Bill
Status
4/12/2022
Primary Sponsor
Kelly Breen
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AI Summary
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Updates the catastrophic claims association's personal protection insurance coverage threshold from $580,000.00 to $600,000.00 for policies issued or renewed between July 1, 2021 and June 30, 2023.
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Establishes biennial adjustments beginning July 1, 2023 (rather than July 1, 2021) to increase the coverage threshold by the lesser of 6% or the Consumer Price Index, rounded to the nearest $5,000.00.
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Requires the catastrophic claims association to order refunds to members immediately after the 30-day review period expires, and requires members to distribute refunds to insureds within 30 days of receiving them from the association.
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Makes technical corrections to remove "(1)" references after "section 3101" in several subsections throughout the statute.
Legislative Description
Insurance: no-fault; refund of payments by Michigan catastrophic claims association to consumers; provide 30-day limitation. Amends sec. 3104 of 1956 PA 218 (MCL 500.3104).
Insurance: no-fault
Last Action
Bill Electronically Reproduced 04/12/2022
4/13/2022