A bill to amend 1956 PA 218, entitled “The insurance code of 1956,” by amending section 3142 (MCL 500.3142), as amended by 2019 PA 21.
The bill outlines the conditions under which personal protection insurance benefits are payable and considered overdue. It specifies a 30-day period for the payment of claims upon receiving reasonable proof of loss, with certain provisions allowing for additional time under specific circumstances. Furthermore, the bill details the interest rate applicable to overdue payments.
Co-sponsored by Reps.
Referred to the Committee on Insurance and Financial Services
