HB 4071
Insurance: unfair trade practices; unfair trade practices in the insurance industry; revise. Amends sec. 2025 of 1956 PA 218 (MCL 500.2025).
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill revises Michigan’s insurance code to clarify what practices are not considered ‘discrimination’ or ‘rebates’ when it comes to insurance policies. Specifically, it allows insurers to offer certain value-added services, like loss control education or financial wellness programs, to policyholders without those being viewed as unfair practices. The bill also addresses bonuses for policyholders and adjustments to group insurance rates, while emphasizing the need for fair and equitable practices and consumer protection.
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