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2017 Michigan Compiled Laws
Chapter 500 - Insurance Code of 1956
Act 218 of 1956 THE INSURANCE CODE OF 1956 (500.100 - 500.8302)
218-1956-20 CHAPTER 20 UNFAIR AND PROHIBITED TRADE PRACTICES AND FRAUDS (500.2001...500.2093)
Section 500.2021 Failure to furnish insured rate information upon request; unfair method of competition and unfair or deceptive act or practice in business of insurance; exception.
Universal Citation: MI Comp L § 500.2021 (2017)
500.2021 Failure to furnish insured rate information upon request; unfair method of competition and unfair or deceptive act or practice in business of insurance; exception.
Sec. 2021.
An unfair method of competition and an unfair or deceptive act or practice in the business of insurance includes failure by a rating organization and an insurer that makes its own rates, within a reasonable time after receiving written request for the information and on payment of a reasonable charge, to furnish to an insured affected by a rate made by it, or to the insured authorized representative, all pertinent information to the rate. Pertinent information under this section does not include information that is a trade secret as determined by the director under section 2108(5) or 2406(6).
History: Add. 1982, Act 7, Eff. Jan. 1, 1983 ;-- Am. 2015, Act 141, Eff. Jan. 11, 2016
Popular Name: Act 218
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