Michigan Laws 500.2419 – Excessive premium charges for worker’s compensation insurance; personal meeting with management representative; providing reserve and redemption information to insured upon request; determination
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(1) An insured who has reason to believe that the insured’s premium charges for worker’s compensation insurance are excessive as a result of unreasonable reserves or the unreasonable redemption of a claim shall be entitled to a personal meeting with a management representative of the insurer.
(2) Upon receipt of a written request by the insured, the insurer shall provide within 30 days of the receipt of the request reserve and redemption information with regard to worker’s compensation insurance which is pertinent to the premiums charged for that insurance.
Terms Used In Michigan Laws 500.2419
- Commissioner: means the director. See Michigan Laws 500.102
- 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
(3) If a meeting between the insured and the management representative of the insurer under subsection (1) fails to resolve the dispute, the insured shall be entitled to a determination of the dispute by the commissioner. The commissioner shall promulgate rules pursuant to Act No. 306 of the Public Acts of 1969, as amended, being section 24.201 to 24.315 of the Michigan Compiled Laws, establishing procedures for a determination under this subsection. The procedures shall provide for determinations to be made on a timely and informal basis.
(4) Upon written request of an insured, an insurer shall not redeem a worker’s compensation claim without giving 10 business days’ prior notice to the insured by first class mail, return receipt requested.