Michigan Compiled Laws § 500.2409b Availability Of Liquor Liability Insurance; Report; Certification; Considerations; Submission Of Report And Certification; “liquor Liability Insurance” Defined.

500.2409b Availability of liquor liability insurance; report; certification; considerations; submission of report and certification; “liquor liability insurance” defined.

Sec. 2409b.

(1) The commissioner shall issue a report detailing the state of availability in the liquor liability insurance market and delineating specific classifications of liquor liability insurance where reasonable availability does not exist not later than March 1, 1988, and each year thereafter. The report shall be based on relevant economic tests, including but not limited to those in subsection (2). The findings in the report shall not be based on any single measure of reasonable availability, but appropriate weight shall be given to all measures of reasonable availability. The report shall include a certification of whether or not liquor liability insurance is reasonably available in this state including whether it is available at a reasonable premium.

(2) All of the following shall be considered by the commissioner for purposes of subsection (1):

(a) The extent to which any insurer controls the liquor liability insurance market in this state, or any portion thereof.

(b) Whether the total number of companies providing liquor liability insurance in this state is sufficient to provide multiple options to liquor licensees.

(d) The overall rate level which is not excessive, inadequate, or unfairly discriminatory.

(e) Any other factors the commissioner considers relevant.

(3) The report and certification required under subsection (1) shall be submitted to the liquor control commission, all members of the house of representatives committees on insurance and liquor control, and all the members of the senate committee on commerce.

(4) For purposes of this section, “liquor liability insurance” means any of the following that provide security for liability under section 22 of Act No. 8 of the Public Acts of the Extra Session of 1933, being section 436.22 of the Michigan Compiled Laws:

(a) An insurance policy.

(b) A bond.

History: Add. 1986, Act 173, Imd. Eff. July 7, 1986
Popular Name: Act 218

Section: Previous 500.2404 500.2405 500.2406 500.2407 500.2408 500.2409 500.2409a 500.2409b 500.2409c 500.2410 500.2411 500.2412 500.2414 500.2416 500.2418 Next

Last modified: October 10, 2016