INSURER GIFT TO CUSTOMER H.B. 5332: FLOOR ANALYSIS
House Bill 5332 (as reported without amendment)
Sponsor: Representative Richard Ball
House Committee: Insurance
Senate Committee: Banking and Financial Institutions
CONTENT
The bill would amend the Insurance Code to specify that, beginning January 1, 2006, Sections 2024, 2066, and 2070 of the Code could not be construed to prohibit a property-casualty insurer or property-casualty insurance producer from giving an applicant for, or an insured under, a property-casualty insurance policy an article of merchandise having an invoice value of $10 or less. (Sections 2024, 2066, and 2070 generally prohibit insurers from providing, and insureds from receiving, any rebates or inducements.)
Proposed MCL 500.2024b Legislative Analyst: Patrick Affholter
FISCAL IMPACT
The bill would have no fiscal impact on State or local government.
Date Completed: 11-9-05 Fiscal Analyst: Elizabeth Pratt
Maria TyszkiewiczAnalysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent. hb5332/0506