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

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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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-Introduced.html

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HOUSE BILL No. 4070

 

January 22, 2009, Introduced by Rep. Rocca and referred to the Committee on Insurance.

 

     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 unless the premium was based on

 

materially incorrect information provided by the applicant or

 

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 unless the

 

premium was based on materially incorrect information provided by

 

the applicant or insured.