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MI HB4071
Bill
Status
5/7/2025
Primary Sponsor
Brenda Carter
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AI Summary
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Amends Michigan's Insurance Code to clarify that certain practices are not considered discrimination or rebates under existing anti-rebate provisions
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Allows life and property/casualty insurers, their employees, affiliates, producers, or third-party representatives to offer free or discounted "value-added products or services" not specified in insurance policies
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Value-added products must relate to insurance coverage and serve objectives such as loss mitigation, claim cost reduction, risk education, health enhancement, financial wellness, or behavioral change incentives
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Requires that the cost of value-added products offered to customers be reasonable compared to the customer's premiums or coverage, and insurers must provide contact information for questions
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Excludes these value-added products and services from being classified as prohibited "merchandise" under existing unfair trade practice provisions
Legislative Description
Insurance: unfair trade practices; unfair trade practices in the insurance industry; revise. Amends sec. 2025 of 1956 PA 218 (MCL 500.2025).
Insurance: unfair trade practices
Last Action
Referred To Committee On Finance, Insurance, And Consumer Protection
5/13/2025