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. Note: These provsions were removed in the Senate; see Senate-passed bill.
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 45 (details)
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.
Motion
by
To give the bill immediate effect.
The motion failed 62 to 44 (details)
Referred to the Committee on Economic Development and Regulatory Reform
Substitute offered
The substitute passed by voice vote
Passed in the Senate 35 to 1 (details)
To add a definition of "Off Road Vehicle" (ORV) to the state insurance code, so as to make it consistent with the provisions of House Bill 4323, which allows northern counties to allow ORVs to be used on certain roads.
Passed in the House 104 to 1 (details)
To concur with the Senate-passed version of the bill, which deleted the House-passed provisions and used it as a "vehicle" to add a definition of "Off Road Vehicle" (ORV) to the state insurance code, so as to make it consistent with the provisions of House Bill 4323, which allows northern counties to allow ORVs to be used on certain roads.
