A bill to amend 1956 PA 218, entitled “The insurance code of 1956,” by amending sections 2006 and 3142 (MCL 500.2006 and 500.3142), section 2006 as amended by 2017 PA 223 and section 3142 as amended by 2019 PA 21.
Senate Bill No. 546 amends Michigan's insurance code to impose stricter deadlines and significantly higher, tiered interest penalties for late insurance claim payments, while requiring annual public reporting by insurers to improve transparency and accountability.
Co-sponsored by Sens.
Referred to the Committee on Finance, Insurance, and Consumer Protection
Reported without amendment
Referred to the Committee of the Whole
