The Michigan Catastrophic Claims Association voted to support Gov. Gretchen Whitmer’s call for auto insurance refunds for insured drivers.
Gov. Whitmer released a letter sent to MCCA earlier this week, where she called for the reported $5 billion in surplus reported by the MCCA to be refunded to insured drivers as soon as possible.
On Wednesday, the MCCA said it unanimously voted to support issuing refund checks to Michigan drivers.
“Details on the specific refund amount per vehicle, along with a proposed timeline and logistics, will be announced in the next several weeks. The goal is to issue the largest possible refunds to consumers while maintaining sufficient funds to ensure high-quality care to those who have been catastrophically injured,” MCCA said in a statement.
The MCCA is a private nonprofit association established by the Michigan Legislature in 1978. Its purpose, until auto insurance reform was enacted in 2020, is to reimburse no-fault insurance companies for Personal Injury Protection (PIP) medical claims paid in excess of a set amount under policies of insurance providing unlimited lifetime coverage.
Michigan law no longer requires owners and registrants to buy unlimited lifetime coverage for medical expenses resulting from motor vehicle accidents.
The MCCA assesses all auto insurance companies operating in Michigan to cover catastrophic medical claims occurring in Michigan because of motor vehicle accidents. Insurance companies generally pass those assessments on to their auto insurance policyholders. The 2021-2022 assessment is $86 per vehicle. But refunds could be larger.
More: Auto insurance refunds in Michigan? How much you’d get under Whitmer request
The Insurance Alliance of Michigan released this statement:
“The Insurance Alliance of Michigan and our members strongly support the Michigan Catastrophic Claims Association’s efforts to put money back into the pockets of Michigan drivers. It’s important for the MCCA board to do its due diligence and land on a refund amount that balances giving insured drivers back the money they deserve while protecting the longevity of a fund that pays for the cost of medical care for Michiganders seriously injured in car accidents. The fact the MCCA board is even considering this shows reforms passed with bipartisan support by the Legislature and signed into law by Gov. Gretchen Whitmer are working and delivering real savings to drivers across the state. We want to thank lawmakers for staying the course on reform so drivers can continue saving money on their car insurance.”
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November 04, 2021 at 05:02AM
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MCCA votes to support Whitmer request for Michigan auto insurance refunds - WDIV ClickOnDetroit
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