A bill to amend 1956 PA 218, entitled “The insurance code of 1956,” by amending sections 2006 and 3142 (MCL 500.2006 and 500.3142), section 2006 as amended by 2017 PA 223 and section 3142 as amended by 2019 PA 21.
The bill amends the 1956 Insurance Code to enforce timely insurance claim payments with tiered interest penalties for delays, reduces notification timeframes for claim issues, and mandates annual reporting of claim payment statistics by insurers.
Co-sponsored by Sens.
Referred to the Committee on Finance, Insurance, and Consumer Protection
