This bill amends the Michigan Insurance Code of 1956, specifically section 2111f, to establish new requirements for automobile insurance premium rates for personal protection insurance coverage. Insurers must file their premium rates by July 1, 2020, for policies effective after that date, ensuring that the rates reflect significant reductions compared to those in effect on May 1, 2019. The bill specifies average reduction percentages based on different coverage limits, ranging from 10% to 45%. Additionally, it mandates that insurers must not charge premiums for personal protection insurance benefits if certain exclusions apply.

The bill also outlines the review process for these filings by the director of the insurance department, including provisions for disapproval and resubmission of rates that do not meet the required reductions. It allows insurers to apply for exemptions under specific circumstances and requires them to pass on savings from certain treatments related to motor vehicle accidents. Furthermore, the bill stipulates that if any part of the premium reduction requirements is deemed invalid by a court, the entire amendment will be considered invalid. The enactment of this bill is contingent upon the passage of related legislation.

Statutes affected:
House Introduced Bill: 500.2111