Detroit’s Democratic state House Caucus is laying out an effort to change Michigan’s auto insurance policies.
The package of legislation was revealed during a news conference in Detroit. Republicans control the state Legislature.
Under the proposal, insurance companies couldn’t use credit history, education or occupation in determining a person’s premium. It would also mandate that insurance companies justify any rate increases and ensure that 80 percent of the premiums collected be spent on clients.
Democrats say the measure will save residents money and fight insurance industry fraud.
The legislation is an effort to counter Republican-backed legislation that would end Michigan’s unlimited lifetime benefits for catastrophically injured car-crash victims and drop car insurance rates by at least $125 less a year. That measure awaits consideration in the full House.
Topics Auto Legislation Michigan Politics
Was this article valuable?
Here are more articles you may enjoy.
Hellman & Friedman’s Hub International Seeks $3 Billion in IPO 
Premiums Will Skyrocket by 2035; Discounts Not Enough for Wind Mit, Studies Say 
US P/C Industry Books Best Result in a Decade but Not All Lines Enjoy Success 
Allianz Unit to Cut as Many as 1,800 Jobs in Push to Adopt AI 
