Bill Text: MI HB4070 | 2009-2010 | 95th Legislature | Engrossed

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Bill Title: Insurance; essential; increasing premium during term of policy; prohibit except in certain situations. Amends 1956 PA 218 (MCL 500.100 - 500.8302) by adding sec. 2111b.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2009-05-05 - Referred To Committee On Economic Development And Regulatory Reform [HB4070 Detail]

Download: Michigan-2009-HB4070-Engrossed.html

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HB-4070, As Passed House, April 30, 2009

 

 

 

 

 

 

 

 

 

 

SUBSTITUTE FOR

 

HOUSE BILL NO. 4070

 

 

 

 

 

 

 

 

 

     A bill to amend 1956 PA 218, entitled

 

"The insurance code of 1956,"

 

(MCL 500.100 to 500.8302) by adding section 2111b.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 2111b. (1) Once the premium for an automobile insurance

 

policy is billed by an automobile insurer or the insurer's producer

 

and has been paid in whole or in part by the insured, the

 

automobile insurer shall not increase the premium for that policy

 

during the term of the policy except as follows:

 

     (a) The premium for the policy was based on materially

 

incorrect information provided by the applicant or insured.

 

     (b) A change in the terms or coverages of the policy is

 

requested by the insured.

 

     (2) Once the premium for a home insurance policy is billed by

 

a home insurer or the insurer's producer and has been paid in whole

 

or in part by the insured, the home insurer shall not increase the

 

premium for that policy during the term of the policy except as

 

follows:

 

     (a) The premium for the policy was based on materially

 

incorrect information provided by the applicant or insured.

 

     (b) A change in the terms or coverages of the policy is

 

requested by the insured.