Live Insurance News

Michigan auto insurance push for no fault reform has returned

February 25, 2014February 22, 2014 G. Turner

The House Republicans in the state are trying again after having been unsuccessful last year. House Republicans are bringing their Michigan auto insurance reform push right back into the spotlight again, after having failed to obtain adequate support for the massive overhaul that they had proposed in 2013. The new goal is to eliminate the unlimited lifetime benefits that are currently available in the state. At the moment, Michigan auto insurance law makes it possible for individuals who are catastrophically injured in vehicle accidents to continue to receive benefits for…

Auto insurance fraud crackdown planned in Michigan

September 19, 2013September 17, 2013 Julie Campbell

The state intends to expand its efforts to put a stop to fake coverage certificates. According to Ruth Johnson, Secretary of State, she and law enforcement in Michigan are working together with the auto insurance industry in order to considerably expand crackdown efforts on fake certificates that are being used to obtain vehicle registrations. The fraud that was discovered by Johnson and her department had a staggering rate of 16 percent. Johnson explained that her department had found a 16 percent rate of auto insurance fraud within a single day…

Auto insurance reform details unveiled for Michigan

May 24, 2013May 25, 2013 G. Turner

The new plans for a no fault system have now been unveiled in the hopes of driving rates down. Drivers in Michigan have just received news regarding the reform package for the auto insurance system in the state, which is meant to lower the skyrocketing premiums that they are paying. At the same time, data was revealed regarding a $14 billion catastrophic accident claims fund. The bills for these auto insurance reforms are still drafts, but if they move ahead, they will change the structure of the Michigan Catastrophic Claims…

Michigan lawmakers seek to limit auto insurance benefits

May 8, 2013May 7, 2013 Logan B.

Lawmakers take aim at auto insurance benefits Michigan legislators have begun addressing the issues associated with the state’s no-fault auto insurance laws. Currently, state law ensures that lifetime medical benefits to victims of auto accidents throughout the state are unlimited. This provision of the law has long been a point of contention for the auto insurance industry, which considers unlimited benefits to be somewhat excessive in most circumstances. The no-fault law has, in some regard, contributed to the growing costs of auto insurance coverage, and lawmakers are looking to address…

Auto insurance overhaul moving to the Michigan House

May 8, 2013May 7, 2013 H. Cutner

The lawmakers will be considering a change to the system to cap payouts for catastrophic injuries. After passing out of committee along party lines, last week, legislation for placing a cap on auto insurance catastrophic injury payments at $1 million is now headed to the House in Michigan. Should the bill pass, it would eliminate the unlimited lifetime medical benefits for accident victims next year. It would mean that anyone injured in an accident as of January 1, 2014, will have a limit to the payments that will be available…