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.
FEMA Chief Resigns After Six Months, Criticism Over Floods 
Business Moves: Trucordia Acquires 5 Local Agencies in 4 States 
Bipartisan Legislation Introduced to Retroactively Restore NFIP 
China Accuses US of Orchestrating $13 Billion Bitcoin Hack 
