The bill amends the Michigan Insurance Code of 1956, specifically section 2434, to update the process by which malpractice insurance rating classifications are prescribed. The term "commissioner" is replaced with "director," who, after consulting with physician associations and authorized insurers, will now be responsible for prescribing these classifications. Additionally, the requirement for the commissioner to furnish the legislature and governor with intended rating classifications before implementation has been removed.

Furthermore, the bill introduces new requirements for insurers offering medical malpractice insurance. By an annual date determined by the director, these insurers must provide the department with information regarding their policies related to perinatal care services. The department is then mandated to submit this information to the Department of Health and Human Services within 60 days for a study required under the public health code. The enactment of this bill is contingent upon the passage of Senate Bill No. 29.

Statutes affected:
Senate Introduced Bill: 500.2434
As Passed by the Senate: 500.2434