In the News Archive

  • Member Alert: Insurance Tax Increase Proposal Would Worsen Already-High Auto Insurance Rates

    Member Alert: Insurance Tax Increase Proposal Would Worsen Already-High Auto Insurance Rates

    As part of the Governor’s 2016-2017 Executive Budget recommendation, the Administration called for the repeal of an insurance tax credit that serves to spread the costs associated with providing healthcare benefits to those injured by an automobile when no other insurance is available. Unfortunately, this proposal gained further attention last week when a number of […]

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  • Michigan’s $37.1 billion insurance sector could draw more industry players to state

    Michigan’s $37.1 billion insurance sector could draw more industry players to state

    A statewide analysis of the insurance industry’s $37.1 billion economic impact provides a basis to lure more players to Michigan, as well as highlights the need for training new talent to replace an aging workforce. The insurance industry directly employs 41,000 people in Michigan and overall supports 114,000 jobs directly and indirectly, according to the analysis […]

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  • Lansing employs 20 percent of state’s insurance industry

    Lansing employs 20 percent of state’s insurance industry

    LANSING – Michigan’s insurance industry had a $37.1 billion economic footprint in 2014, according to a new report on the industry. The industry spent $16.4 billion in the state that year, including $3 billion in wages to its more than 41,000 direct employees, and supports a total of 114,000 jobs in the state, the report said. It paid $500 million in taxes to the state and […]

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  • Insurance boosts Michigan economy, report finds

    Insurance boosts Michigan economy, report finds

    The insurance industry is giving the state of Michigan a much-needed economic boost, a new study suggests. The study, conducted by the Anderson Economic Group and commissioned by the Michigan Chamber of Commerce and other groups representing the insurance industry, discovered that the insurance industry accounts for $37.1 billion in spending each year in the […]

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  • FIB vs. FACT: May 21, 2015

    FIB vs. FACT: May 21, 2015

    Don’t be fooled by nonprofit hospital executives who are trying to protect hundreds of millions of dollars in profits by spreading misinformation about the proposed no-fault reform legislation. Hospitals will not go out of business, trauma units will continue to operate, no-fault patients will continue to receive unlimited lifetime benefits, and Michigan drivers will finally […]

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  • FIB vs. FACT: May 20, 2015

    FIB vs. FACT: May 20, 2015

    Don’t be fooled by hospital executives who are trying to protect more than $1 billion in profits by spreading misinformation about no-fault reform legislation. Hospitals and medical service providers admit they are overcharging auto accident patients to the tune of $1.2 billion per year, which has driven up the cost of no-fault auto insurance.

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  • FIB vs. FACT: May 19, 2015

    FIB vs. FACT: May 19, 2015

    The proposed changes to Michigan’s no-fault laws will continue to provide the best auto insurance coverage in the nation while controlling some of the factors that drive up costs for consumers and make auto insurance unaffordable for more than 20 percent of Michigan drivers. Hospitals and healthcare service providers have clouded the no-fault reform discussion […]

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  • Senate Insurance Committee passes SB 248

    Senate Insurance Committee passes SB 248

    SB 248 reforms Michigan’s no-fault insurance without reducing coverage for those hurt in auto accidents Does not reduce current no-fault benefits and coverage. The legislation protects the benefits and medical coverage that every driver receives under our current the no-fault laws. Establishes a fraud bureau to fight auto insurance fraud. The new bureau will be […]

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  • Lawmakers likely to try again to reform Michigan’s no-fault system

    Lawmakers likely to try again to reform Michigan’s no-fault system

    Michigan has some of the highest auto insurance rates in the country and auto insurance rate hikes there were higher than those in any other state over the past two years, according to the insurance consulting firm, Perr&Knight. Some see Michigan’s generous no-fault system as the main driver of its costly auto insurance rates and […]

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  • No-fault reform likely to be pushed into next session

    No-fault reform likely to be pushed into next session

    Stakeholders are nearing compromise on the difficult no-fault insurance reform package, but the driving force of the effort — Senate Majority Floor Leader Arlan MEEKHOF (R-West Olive) — told MIRS he doesn’t think the timing will allow it to move this lame duck. Meekhof has boiled down the Governor’s sweeping proposal that has stalled this […]

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