The Michigan Department of Insurance and Financial Services has adjusted the amount of the maximum work loss benefit and survivors’ loss benefits payable under personal protection insurance policies for the coming year.
The new, maximum work loss and survivors’ loss benefit payable, effective Oct. 1, 2020, through Sept. 30, 2021, is $5,755 per single 30-day period. This maximum applies pro rata to any lesser period of work loss.
The maximum work loss and survivors’ loss benefit in effect Oct. 1, 2019, through Sept.30, 2020, was $5,718 per single 30-day period.
The department is required to adjust the amount annually. Each adjustment is to be effective on October 1 of that year and is to apply only to benefits arising out of accidents occurring after the date of change in the maximum.
Source: Michigan DIFS
Topics Profit Loss Michigan
Was this article valuable?
Here are more articles you may enjoy.
Businesses Pressured to Respond to ICE While Becoming a Target 
LA County Told to Pause $4B in Abuse Payouts as DA Probes Fraud Claims 
China Plans $29 Billion Capital Injection Into Biggest Insurers 
Updated: 6 Killed in Private Plane Crash at Maine Airport 
