2006 House Bill 6227 ↩

Senate Roll Call 623: Passed

To add the Michigan insurance guaranty association, and ones from other states, to the list of entities to whom state insurance regulators may disclose information regarding supervision orders imposed on an insolvent insurance company whose obligations may become a demand on the guaranty association. Guaranty associations are essentially the insurers of insurance companies, providing coverage to the company’s policyholders who are state residents up to a certain level. The bill is part of package comprised of House Bills 6223 to 6235, which revise the state law governing the Michigan guaranty association.