Michigan Compiled Laws 218-1956-26 Chapter 26 Fire And Inland Marine Rates (500.2600...500.2674)

• Section 500.2600 Purpose Of Chapter; Construction.
  The purpose of this chapter is to promote the public welfare by regulating insurance rates to the end that they shall not be excessive,...
• Section 500.2601 Scope Of Chapter.
  (1) This chapter applies to the following kinds of insurance as written on risks located in this state by and companies, associations, or other...
• Section 500.2603 Rate-making Provisions; Uniformity.
  (1) All rates shall be made in accordance with the following provisions: (a) Due consideration shall be given to past and prospective loss experience...
• Section 500.2604 Expired. 1980, Act 461, Eff. Dec. 31, 1980.
  Compiler's Notes: The expired section pertained to underwriting.Subsequent to its expiration, this section was amended by Act 461 of 1980.Popular Name: Act 218
• Section 500.2606 Rate Filings; Proposed Effective Date; Character And Extent Of Coverage; Insufficient Information; Public Inspection; Trade Secret; Inland Marine Rates; Insurer As Member Of Or Subscriber To Rating Organization.
  (1) Each insurer shall file with the director, except as to inland marine risks that by general custom of the business are not written...
• Section 500.2608 Rate Filings; Review By Insurance Commissioner; Waiting Period; Specific Inland Marine Rates On Risks.
  (1) The commissioner shall review filings as soon as reasonably possible after they have been made in order to determine whether they meet the...
• Section 500.2610 Filing Requirements; Modification Or Suspension By Insurance Commissioner.
  Under such rules and regulations as he shall adopt the commissioner may, by written order, suspend or modify the requirement of filing as to...
• Section 500.2612 Rate Filings; Adherence By Insurer.
  No insurer shall make or issue a contract except in accordance with the filings which are in effect for said insurer as provided in...
• Section 500.2614 Rate Organization; Excess Rates On Specific Risks.
  Upon the written application of the insured, stating his reasons therefor, filed with and approved by the commissioner, a rate in excess of that...
• Section 500.2616 Disapproval Of Filing By Insurance Commissioner; Notice; Waiting Period; Specific Inland Marine Rate.
  (1) If within the waiting period or any extension thereof as provided in section 2608 (2), the commissioner finds that a filing does not...
• Section 500.2618 Failure Of Filing To Meet Requirements; Procedure.
  If at any time after the applicable review period provided for in section 2616, the commissioner finds that a filing does not meet the...
• Section 500.2620 Disapproval Of Filing; Complaint Of Aggrieved Person Or Organization; Hearing; Notice; Order Rendering Filing Ineffective.
  (1) Any person or organization aggrieved with respect to any filing which is in effect may make written application to the commissioner for a...
• Section 500.2626 Manual, Minimum, Class Rate, Rating Schedule, Rating Plan Or Rule; Rates Meeting Standards.
  No manual, minimum, class rate, rating schedule, rating plan, rating rule, or any modification of any of the foregoing which has been filed pursuant...
• Section 500.2628 Rates; Alternative Method Of Filing; Disapproval; Hearing; Order; Approval; Adjustment Of Premium; Review.
  (1) In lieu of the filing requirements of this chapter and as an alternative method of filing, any insurer or rating organization may file...
• Section 500.2630 Rating Organization; License Application, Contents.
  (1) A corporation, an unincorporated association, a partnership or an individual, whether located within or outside this state, may make application to the commissioner...
• Section 500.2636 Rating Organizations; Subscribers; Notice Of Changes In Rules And Regulations; Review; Order.
  (1) Subject to rules and regulations which have been approved by the commissioner as reasonable, each rating organization shall permit any insurer, not a...
• Section 500.2638 Rating Organizations; Rules Affecting Payment Of Dividends, Savings Or Unabsorbed Premiums.
  No rating organization shall adopt any rule the effect of which would be to prohibit or regulate the payment of dividends, savings or unabsorbed...
• Section 500.2640 Rating Organizations; Cooperation With Other Rating Organizations And Insurers, Discontinuance.
  Cooperation among rating organizations or among rating organizations and insurers in rate making or in other matters within the scope of this chapter is...
• Section 500.2642 Rating Organizations; Submission Of Policies For Examination; Actuarial, Technical, Or Other Services.
  (1) Any rating organization may provide for the examination of policies, daily reports, binders, renewal certificates, endorsements or other evidences of insurance, or the...
• Section 500.2646 Rating Organizations; Deviation, Procedure, Termination Of Deviation.
  (1) Every member of or subscriber to a rating organization shall adhere to the filings made on its behalf by such organization except that...
• Section 500.2648 Rating Organizations; Alternative Methods For Deviation.
  (1) In lieu of the requirements of section 2646 for deviation and as an alternative method for deviation every member of or subscriber to...
• Section 500.2650 Rating Organizations; Member Or Subscriber, Appeal To Insurance Commissioner.
  Any member of or subscriber to a rating organization may appeal to the commissioner from the action or decision of such rating organization in...
• Section 500.2652 Rating Organization And Insurer; Rating Information To Insured, Hearing; Appeal.
  Each rating organization and insurer that makes its own rates, within a reasonable time after receiving written request for the information and on payment...
• Section 500.2654 Advisory Organizations; Definition; Filing; Discontinuance Of Unfair Or Unreasonable Practices; Rate Filings; Violation.
  (1) Every group, association or other organization of insurers, whether located within or outside this state, which assists insurers which make their own filings...
• Section 500.2658 Joint Underwriting Or Reinsurance; Unfair Activities.
  (1) Every group, association or other organization of insurers which engages in joint underwriting or joint reinsurance, shall be subject to regulation with respect...
• Section 500.2662 Examination Of Rating Advisory Organizations; Report.
  (1) The commissioner may make or cause to be made an examination of each rating organization licensed in this state under section 2630, each...
• Section 500.2664 Statistical Plans; Exchange Of Data, Consultation.
  (1) The commissioner shall promulgate reasonable rules and statistical plans, reasonably adapted to each of the rating systems on file with him, which may...
• Section 500.2666 Withholding Information, False Or Misleading Information; Penalties.
  No person or organization shall wilfully withhold information from, or knowingly give false or misleading information to, the commissioner, any statistical agency designated by...
• Section 500.2670 Violation Of Chapter; Imposition And Disposition Of Civil Fines; Suspension Or Revocation Of License.
  (1) Subject to subsection (3), the commissioner may, if he or she finds that any person or organization has violated any provision of this...
• Section 500.2672 Insurer Or Rating Organization Aggrieved By Order Without Hearing; Hearing, Court Review.
  (1) Any insurer or rating organization aggrieved by any order or decision of the commissioner made without a hearing, may, within 30 days after...
• Section 500.2674 Insurance Commissioner; Regulatory Powers.
  The commissioner may make reasonable rules and regulations necessary to effect the purposes of this chapter. History: 1956, Act 218, Eff. Jan. 1, 1957...

Last modified: October 10, 2016