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Thursday, 06 February 2020 20:52

With Auto Rate Relief Promised, Michigan Gives New Scrutiny to Insurers

Written by Jonathan Oosting, Bridgemi.com

Michigan is giving new scrutiny to auto insurance rates, beefing up anti-fraud investigations and mounting a public education campaign in an effort to help drivers realize savings promised in a new law that takes effect this summer, a top state official said Wednesday.

No-fault auto reforms pushed by the Republican-led Legislature and signed by Democratic Gov. Gretchen Whitmer will require insurers to reduce personal injury projection premiums for consumers who choose to buy policies with limited medical benefits.

 

To help ensure that happens, the Michigan Department of Insurance and Financial Services is contracting with six independent firms to review underlying risk assumptions insurers use to set their rates, director Anita Fox told reporters in a media roundtable.

 

Read the full story from Bridgemi.com here:

https://www.bridgemi.com/michigan-government/auto-rate-relief-promised-michigan-gives-new-scrutiny-insurers

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