2007 House Bill 5559 ↩

House Roll Call 268: Passed

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.