Tag: Michigan Department of Insurance and Financial Services

Michigan auto insurance refund deadline is today

Marc
Auto insurance refund - Refunds keyboard

Insurers are required to issue their $400 checks to applicable policyholders no later than today. The auto insurance refund deadline insurers have to issue the $400 refund checks to their customers has arrived. Michigan Governor Gretchen Whitmer announced last week that $2.2 billion had yet to be issued. During the second half of April, about 1.2 billion in auto insurance refund checks had been issued, according to Michigan Department of Insurance and Financial Services data. Around $3 billion is intended for redistribution to drivers in the state who had active…

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New Michigan auto insurance law to become effective next month

Marc
Michigan auto insurance law - Michigan license plate

The new regulations meant to lower prices for drivers in the state will become effective July 1. On Tuesday, June 23, 2020, the state Department of Insurance and Financial Services held a meeting to answer questions about the new Michigan auto insurance law. The meeting was meant to answer questions and provide more information about the regulations. The new Michigan auto insurance law was developed in the hopes of reducing the cost of the coverage. At the same time, it is meant to help keep up the highest options available…

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Health insurance premiums are on the rise in Michigan

S.Vagus
cash money subsidy health insurance deductibles

Michigan insurers are raising rates on coverage, but by a modest degree Insurance premiums in Michigan are set to rise next year. The Michigan Department of Insurance and Financial Services has approved rate increase proposals that will affect small businesses and individuals in 2016. For small group health insurance coverage, rates will rise by a very modest degree, while those with individual coverage will see a greater increase in their premiums beginning next year. Rate proposals were approved in order to allow insurers to recover from losses they had experienced…

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More companies aim to participate in Michigan health insurance exchange

Marc
health insurance enrollment

18 insurance companies are seeking entry into the state’s insurance exchange this year Michigan residents may have more options when it comes to purchasing health insurance coverage through the state’s insurance exchange this year. The Michigan Department of Insurance and Financial Services has announced that it has received policy proposals from 18 of the state’s insurance companies that are interested in participating in the exchange. All but two of these companies have filed proposals for individual policies, with 11 offering small group policies designed specifically for businesses. Regulators are currently…

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