The Michigan Insurance Coalition is a Lansing-based, state property-casualty trade association. MIC’s members are insurers who annually underwrite more than $3 billion in insurance premiums in Michigan. Most of MIC’s members have their national headquarters located right her in Michigan – proudly employing thousands of Michigan residents directly and contracting with thousands of individual agents to help serve their customers.
Public Policy Principles. When evaluating legislative, regulatory and legal issues affecting MIC’s goals and objectives, the public policy positions articulated by MIC will be consistent with the following:
- The natural commercial order arising out of consensual transactions between or among individuals and businesses is generally preferable to the imposition of government authority, regulation and laws designed to control commerce, limit choice, or effect preferred outcomes.
- Laws and regulations necessary for the protection of the commercial marketplace and/or marketplace participants should be crafted as closely as possible to minimize disruption to commerce.
- Commerce conducted by private individuals and businesses is generally preferable to commerce conducted by a governmental body.
- Taxes and other burdens imposed by laws and regulations should be limited to the absolute minimum necessary to support the protection of the marketplace.
- Laws and regulations designed to disguise taxes and burdens or shift the responsibility for collecting them are generally undesirable.
- The core rationale for insurance regulation is the protection of the marketplace through meaningful solvency standards.
- The legitimate role of the courts is the interpretation and application of the law as written, not the creation of new policy to augment, alter or conflict with statutes, regulations or contracts.