MI SB1087

Increases civil fines for insurers violating the Insurance Code from $1,000 to $50,000 per violation, or up to $100,000 per violation if the insurer knew or should have known of the violation, with an aggregate cap of $500,000.

Increases civil fines for non-insurers violating the Insurance Code from $1,000 to $1,000 per violation (unchanged), or up to $5,000 per violation if they knew or should have known of the violation, with an aggregate cap of $50,000.

For unfair or deceptive acts under sections 2001 to 2050, increases penalties for insurers to $50,000 per violation (up to $100,000 aggregate) or $50,000 per violation (up to $500,000 aggregate in a 6-month period) if violations were knowing.

For unfair or deceptive acts, increases penalties for non-insurers to $1,000 per violation (up to $10,000 aggregate) or $5,000 per violation (up to $50,000 aggregate in a 6-month period) if violations were knowing.

Updates gendered pronouns to gender-neutral language throughout the Insurance Code sections.