Michigan Laws 500.2301 – Participation in facility by insurers required; purposes
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Each insurer authorized to write worker’s compensation insurance in this state shall participate in the Michigan worker’s compensation placement facility for the purpose of doing all of the following:
(a) Providing worker’s compensation insurance to any person who is unable to procure the insurance through ordinary methods.
Terms Used In Michigan Laws 500.2301
- Facility: means the Michigan worker's compensation placement facility created under this chapter. See Michigan Laws 500.2303
- Insurer: means an individual, corporation, association, partnership, reciprocal exchange, inter-insurer, Lloyds organization, fraternal benefit society, or other legal entity, engaged or attempting to engage in the business of making insurance or surety contracts. See Michigan Laws 500.106
- person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
(b) Preserving to the public the benefits of price competition by encouraging maximum use of the normal private insurance system.