MI| Bulletin 2025-21-INS issued by the Michigan Department of Insurance and Financial Services revises and restates continuous filing requirements for reciprocal insurance exchanges under Chapter 72 of the Insurance Code, emphasizing that required filings must be kept current with DIFS and specifically extends or updates the date for correcting previously filed information to October 31, 2025.
- Reciprocal exchanges must continually update DIFS with changes to information required under MCL 500.7210, including contracts and agreements with attorneys-in-fact, and must submit all filings via SERFF with the necessary exhibits and tracking information.
- Companies lacking updated information on file must submit compliant filings—including any material changes—by October 31, 2025; DIFS will review for compliance and may request further details as needed.
