The maximum work loss benefit payable under policies of personal protection insurance in Michigan will rise very slightly for the year beginning Oct. 1, the Michigan Department of Insurance and Financial Services announced.
In Bulletin 2015-20-INS, DIFS Director Patrick M. McPharlin said the maximum work loss payment effective Oct. 1, 2015, through Sept. 30, 2016, is $5,398 per a single 30-day period.
The maximum applies pro rata to any lesser period of work loss. The new maximum also applies to survivor’s loss benefits.
The 30-day maximum effective Oct. 1, 2014, through Sept. 30, 2015, is $5,392.
Topics Profit Loss Michigan
Was this article valuable?
Here are more articles you may enjoy.
Learjet May Have Broken Up Before Fatal Florida Crash, NTSB Says 
Binance Estimates $6.3 Billion Hacked in Crypto’s Biggest Heist 
Markel Expects to See Runoff Certainty With Enstar’s $1.2B Adverse Development Cover 
Pennsylvania Public Adjuster Law Adds Cap on Fees, Bans Ties With Contractors From This Issue
