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Insurance and Financial Services > Insurance
Short Summary
The provided legal document content pertains to the use of discretionary clauses in credit insurance policy forms in Michigan. Discretionary clauses are provisions that bind the claimant to or grant deference to the credit insurer’s decision, denial, or interpretation on terms, coverage, or eligibility for benefits. The document prohibits insurers from issuing, advertising, or delivering any policy, contract, rider, endorsement, certificate, or similar contract document that contains a discretionary clause. Any such clause issued or delivered after the effective date of these rules is void and of no effect. The document also empowers the commissioner to disapprove or withdraw approval of any form containing a discretionary clause. Insurers are required to submit a list of all forms containing discretionary clauses to the commissioner, certifying its completeness and accuracy. This requirement does not apply to contract documents in use before the effective date, but it does apply to any revised document. The document also addresses the accreditation of neurological rehabilitation clinics and the proof of accreditation required for payment or reimbursement. It further mentions the designation of Level I or Level II trauma centers for enhanced reimbursement purposes. Additionally, the document found in the Michigan Administrative Code outlines the Good Moral Character requirements for individuals applying for insurance licenses in Michigan. It defines key terms and identifies convictions that evidence an applicant’s lack of good moral character. The document establishes criteria and standards for the director’s review of an applicant’s good moral character and provides procedures for an applicant to submit a claim to rebut the use of a conviction as evidence of lacking good moral character. Exemptions to convictions include expunged or reversed/vacated convictions and certain juvenile dispositions. The document does not mention any specific exemptions or penalties.
Whom does it apply to?
The document applies to insurers issuing credit insurance policies in Michigan and individuals applying for insurance licenses in Michigan.
What does it govern?
The document governs the use of discretionary clauses in credit insurance policy forms, as well as the accreditation of neurological rehabilitation clinics and the designation of trauma centers for enhanced reimbursement purposes.
What are exemptions?
The rules do not apply to contract documents in use before the effective date, unless they are revised after that date. The document also exempts expunged or reversed/vacated convictions and certain juvenile dispositions from being considered as evidence of lacking good moral character.
What are the Penalties?
The document does not mention any specific penalties for non-compliance or violation of its provisions.
Jurisdiction
Michigan