Introduced
by
To establish caps on the obligation of the Michigan insurance guaranty association to pay off certain claims to the beneficiary of an insolvent insurance company, the obligations of which have become a demand on the guaranty association. Guaranty associations are essentially the insurers of insurance companies, providing coverage to an insolvent company’s policyholders up to a certain level. The bill is part of package comprised of House Bills 6223 to 6235.
Referred to the Committee on Insurance
Passed in the House 105 to 0 (details)
Referred to the Committee of the Whole
Amendment offered
by
To revise a claim cap specified in the bill.
Consideration postponed
Withdrawn
Passed in the Senate 38 to 0 (details)
To establish caps on the obligation of the Michigan insurance guaranty association to pay off certain claims to the beneficiary of an insolvent insurance company, the obligations of which have become a demand on the guaranty association. Guaranty associations are essentially the insurers of insurance companies, providing coverage to an insolvent company’s policyholders up to a certain level. The bill is part of package comprised of House Bills 6223 to 6235.
