MI | The State of Michigan Department of Insurance and Financial Services (DIFS) has issued Bulletin 2024-04-INS.
The Property and Casualty Guaranty Association Act (Act), MCL 500.7901 et seq., requires the Director of the Department of Insurance and Financial Services to annually adjust an insured’s net worth limit and covered claim cap pursuant to the Consumer Price Index for All Urban Consumers in the United States City Average (CPI), as reported by United States Department of Labor, Bureau of Labor Statistics, and as certified by the Director.
