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.
Source: Michigan DIFS
Topics Trends Profit Loss Michigan
Was this article valuable?
Here are more articles you may enjoy.
Independent Agencies Total About 37,000 in 2026, a Decrease From 2024 
A-Cap Insurers File Suit Against SCDOI Director; AM Best Downgrades Group 
Cornell Backs Probe Into Fraternity Sexual Assault Allegations 
CVC-Backed Home Insurance Firm Bamboo Said to Postpone IPO 
