2017 Senate Bill 638 / 2018 Public Act 91

Revise insurance claims reserve calculation detail

Introduced in the Senate

Oct. 31, 2017

Introduced by Sen. Margaret O’Brien (R-20)

To revise details of how reinsurance contracts are treated in the calculation of claims reserves required on an insurer’s balance sheet.

Referred to the Committee on Insurance

Nov. 30, 2017

Reported without amendment

With the recommendation that the substitute (S-1) be adopted and that the bill then pass.

Dec. 6, 2017

Passed in the Senate 36 to 0 (details)

Received in the House

Dec. 6, 2017

Referred to the Committee on Insurance

Feb. 15, 2018

Reported without amendment

With the recommendation that the substitute (H-1) be adopted and that the bill then pass.

March 1, 2018

Passed in the House 108 to 1 (details)

To revise details of how reinsurance contracts are treated in the calculation of claims reserves required on an insurer’s balance sheet.

Received in the Senate

March 6, 2018

Passed in the Senate 36 to 0 (details)

To concur with the House-passed version of the bill.

Signed by Gov. Rick Snyder

March 26, 2018