MI HB6297

Amends the Insurance Code (1956 PA 218) to add definitions related to insurance holding company systems and group-wide supervision requirements.

Defines "enterprise risk" as activities or circumstances involving affiliates that could materially harm an insurer's financial condition or liquidity if not remedied promptly.

Defines "internationally active insurance group" as an insurance holding company system with registered insurers, premiums in at least 3 countries, at least 10% of premiums from outside the U.S., and total assets of $50 billion or premiums of $10 billion.

Establishes definitions for "group-wide supervisor," "lead state commissioner," and incorporates the NAIC Liquidity Stress Test Framework with its instructions, templates, and scope criteria.

Makes this amendatory act contingent on the concurrent enactment of House Bills 6298, 6299, 6300, 6301, 6302, and 6303 in the 101st Legislature.