HB-5559, As Passed House, April 15, 2008
December 12, 2007, Introduced by Reps. Polidori, Virgil Smith, Scott, Johnson and Condino and referred to the Committee on Insurance.
A bill to amend 1956 PA 218, entitled
"The insurance code of 1956,"
by amending sections 2418 and 2618 (MCL 500.2418 and 500.2618),
section 2418 as amended by 1993 PA 200.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 2418. If at any time after approval of any filing either
by act or order of the commissioner or by operation of law, or
before approval of a filing made by a worker's compensation insurer
controlled
by a nonprofit health care corporation formed operating
pursuant
to the nonprofit health care corporation reform act, Act
No.
350 of the Public Acts of 1980, being sections 550.1101 to
550.1704
of the Michigan Compiled Laws 1980 PA 350, MCL 550.1101 to
550.1704, the commissioner finds that a filing does not meet the
requirements of this chapter, the commissioner shall, after a
hearing held upon not less than 10 days' written notice, specifying
the matters to be considered at the hearing, to every insurer and
rating organization that made the filing, issue an order specifying
in what respects the commissioner finds that the filing fails to
meet the requirements of this chapter, and stating for a filing
that has gone into effect when, within a reasonable period
thereafter, that filing shall be considered no longer effective.
Copies
If the commissioner disapproves
the filing as not being in
compliance with section 2403(1)(d) because rates are excessive or
unfairly discriminatory, he or she may order a refund of the
premium to be made to affected policyholders, if the amount is
substantial and equals or exceeds the cost of making the refund. A
copy
of the order shall be sent to every such
insurer and rating
organization subject to the order. The Except for an adjustment
ordered under this section, the order shall not affect any contract
or
policy made or issued prior to the expiration of the period set
forth
in the order before the date
the filing becomes ineffective
as indicated in the commissioner's order.
Sec.
2618. If at any time subsequent to after the applicable
review period provided for in section 2616, the commissioner finds
that
a filing does not meet the requirements of this chapter, he
the commissioner shall, after a hearing held upon not less than 10
days' written notice, specifying the matters to be considered at
such
the hearing, to every insurer and rating organization which
that
made such the filing,
issue an order specifying in what
respects
he the commissioner finds that such the
filing fails to
meet the requirements of this chapter, and stating when, within a
reasonable
period thereafter, such that filing shall be deemed
considered no longer effective. Copies If the commissioner
disapproves the filing as not being in compliance with section
2603(1)(d) because rates are excessive or unfairly discriminatory,
he or she may order a refund of the premium to be made to affected
policyholders, if the amount is substantial and equals or exceeds
the
cost of making the refund. A copy of said
the order shall be
sent
to every such insurer and rating organization subject to the
order. Said Except for an adjustment ordered under this section,
the order shall not effect affect any
contract or policy made or
issued
prior to the expiration of the period set forth in said
order
before the date the filing
becomes ineffective as indicated
in the commissioner's order.