All Michigan drivers with auto insurance will receive a $400 per-vehicle refund next year.
Gov. Gretchen Whitmer and state regulators announced the dollar amount Tuesday, more than a month after she had requested the checks by citing a multibillion-dollar surplus in the Michigan Catastrophic Care Association fund. The fund, which is overseen by a board primarily made up of insurance companies, had quickly agreed to issue refunds but waited to release details.
The fun reimburses insurers medical and other costs for people seriously injured in crashes.
“Michiganders have paid into the catastrophic care fund for decades, and I am pleased that the MCCA developed this plan so quickly after unanimously approving my request to return surplus funds to the pockets of Michiganders,” the governor said in a statement.
Topics Auto Personal Auto Michigan
Was this article valuable?
Here are more articles you may enjoy.
Viewpoint: The AI Boom – When Risk Stops Being Rare, Insurance Must Evolve 
Moody’s: US Faces $375B in Uninsured Flood Losses From 1-in-100-Year Event 
Comulate Loses Appeal for Injunction Against Applied Systems 
NY Archdiocese Can Depose Chubb CEO Greenberg in Clergy Abuse Claims Case 
