SB 0550
Insurance: automobile; manuals of rules; provide requirements for. Amends secs. 2021, 2106, 2108, 2112, 2458 & 2652 of 1956 PA 218 (MCL 500.2021 et seq.).
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
This bill updates Michigan’s insurance regulations, specifically focusing on how insurance companies determine rates and provide information to policyholders. It requires insurers to be more transparent about their rating processes and to furnish detailed information to insureds upon request. The bill also addresses how insurers handle appeals related to rate applications and aims to prevent discriminatory practices like redlining.
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