Introduced
by
To require an independent annual audit of the Michigan Catastrophic Claims Association, require MCCA to comply with the state the state Freedom of Information Act (FOIA) and Open Meetings Act (which otherwise apply only to public bodies), increase the membership of the MCCA board from five to six with one member to represent the general public, and give the state the power to disapprove any premium the MCCA board sets. MCCA is the private entity established to provide reinsurance to cover the liability of individual auto insurance companies to pay unlimited medical claims above $500,000 per incident, as required by the state no-fault auto insurance law.
Referred to the Committee on Insurance
