INSURER GIFT TO CUSTOMER H.B. 5332: COMMITTEE SUMMARY
House Bill 5332 (as passed by the House)
Sponsor: Representative Richard Ball
House Committee: Insurance
Senate Committee: Banking and Financial Institutions
Date Completed: 11-9-05
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.
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