February 3, 2004, Introduced by Senator JACOBS and referred to the Committee on Banking and Financial Institutions.
A bill to amend 1956 PA 218, entitled
"The insurance code of 1956,"
(MCL 500.100 to 500.8302) by adding section 2111a.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
1 Sec. 2111a. Notwithstanding any other provision of this
2 act, an automobile insurer and a home insurer shall not raise
3 rates for automobile or home insurance unless written notice is
4 given to the insured of the rate increase, stating clearly the
5 amount of the increase and the new premium amount, not less than
6 60 days before the insured is expected to make a first payment
7 under the new premium amount.