Introduced
by
To allow the state insurance commission to order a refund of an insurance premium paid by affected policyholders if it deems the company’s rate filing to have been “excessive or unfairly discriminatory,” and if the amount is substantial and equals or exceeds the cost of making the refund. Note: Michigan has a “file and use” insurance rate system wherein insurers are required to file for approval of any rate changes, but don’t have to wait to start using the rates immediately.
Referred to the Committee on Insurance
Reported without amendment
Without amendment and with the recommendation that the bill pass.
Passed in the House 61 to 46 (details)
Motion
To give the bill immediate effect.
The motion failed 62 to 45 (details)
Referred to the Committee on Economic Development and Regulatory Reform
