Michigan HB4854 requires insurance agents to disclose their affiliation with either the insured or the insurer.

Michigan HB4854 amends the insurance code to mandate that agents of insurers must inform insureds or prospective insureds that they represent the insurer. Similarly, agents of the insured must disclose that they represent the insured. This disclosure must be made on a form issued by the director. The bill aims to ensure transparency in insurance transactions by clarifying the roles of different agents involved.

Michigan HB4854 requires insurance agents to disclose their affiliation with either the insured or the insurer.

Michigan HB4854 amends the insurance code to mandate that agents of insurers must inform insureds or prospective insureds that they represent the insurer. Similarly, agents of the insured must disclose that they represent the insured. This disclosure must be made on a form issued by the director. The bill aims to ensure transparency in insurance transactions by clarifying the roles of different agents involved.