New law rattles insurance industry in Michigan

insurance industry report

Michigan insurance industry balks at new law A new law has gone into effect in Michigan that will change the way the state’s insurance industry prices coverage. The law was passed on March 28 of this year and changes the way insurance companies can use a consumer’s credit information to deny or cancel auto, home, health, and other kinds of insurance coverage. In many states, insurers are barred from using socio-economic information to price coverage at all. In Michigan, however, the insurance industry claims to rely on this information as…

Read More