# MI DIFS Bulletin 2008-04-INS: Michigan Property and Casualty Guaranty Association's annual adjustment of an insured's maximum unearned premium refund

> Michigan · Agency guidance · In force

URL: https://www.frixlaw.com/law-library/statutes/MI_INS_2008_04_INS

## Section

- **Citation:** MI DIFS Bulletin 2008-04-INS
- **Heading:** Michigan Property and Casualty Guaranty Association's annual adjustment of an insured's maximum unearned premium refund
- **Jurisdiction:** Michigan
- **Kind:** Agency guidance
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Michigan DIFS Insurance Bulletins / Michigan Property and Casualty Guaranty Association's annual adjustment of an insured's maximum unearned premium refund.

## Text

STATE OF MICHIGAN
DEPARTMENT OF LABOR AND ECONOMIC GROWTH
OFFICE OF FINANCIAL AND INSURANCE SERVICES
Bulletin 2008-04-INS
In the matter of:
Michigan Property and Casualty Guaranty Association's annual adjustment of an
insured's maximum unearned premium refund.
Issued and entered
this &day of March 2008
By Ken Ross
Commissioner
INFORMATIONAL STATEMENT ISSUED PURSUANT TO
MCL 500.7925(2)(a) and R 500.351 OF THE MICHIGAN ADMINISTRATIVE CODE
The Property and Casualty Guaranty Association Act, MCL 500.7925(2)(a), requires the
Commissioner of Financial and Insurance Services to adjust annually an insured's
maximum refund of unearned premiums that constitutes a covered claim of the Property
and Casualty Guaranty Association (Association). The Act directs the Association not
to refund an unearned premium refund amount less than $50.00.
MCL 500.7925(2)(a) requires the annual adjustment of an insured's maximum refund of
unearned premiums, from one insolvent insurer, to reflect changes in the cost of living
as prescribed by the Commissioner's promulgated rule. R 500.351 of the Michigan
Administrative Code requires the annual adjustment to the maximum refund amount of
unearned premiums by the ratio of the national Consumer Price lndex (CPI) as
calculated by the United States Department of Labor, Bureau of Statistics, using the
U.S. City Average lndex for all items as of March of each year, rounded to the nearest
dollar.
By issuing this informational statement, the Commissioner certifies that he has
performed the CPI review and has adjusted the maximum unearned premium refund for
the period from July I , 2007 through June 30, 2008 to $1,282.

Any questions regarding this bulletin should be directed to:
Office of Financial and lnsurance Services
Market Research Division
611 West Ottawa Street
P.O. Box 30220
Lansing, Michigan 48909-7720
Phone: (51 7) -241 -6358
Toll Free: (877) 999-6442
Ken Ross
Commissioner of Financial and lnsurance Services

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/MI_INS_2008_04_INS. Check the current official text before relying on it. Not legal advice.