Michigan HB5383 modifies the renewal fees for limited certificates of authority for insurance or reinsurance businesses.

Michigan HB5383 amends the renewal fees for limited certificates of authority for insurance or reinsurance businesses. The renewal fees are adjusted based on the annual volume of insurance or reinsurance premiums received by the business. For annual premiums less than $5,000,000.00, the renewal fee is $5,000.00. For premiums equal to or greater than $5,000,000.00 but less than $10,000,000.00, the fee is $10,000.00. For premiums equal to or greater than $10,000,000.00 but less than $15,000,000.00, the fee is $15,000.00.

Michigan HB5383 modifies the renewal fees for limited certificates of authority for insurance or reinsurance businesses.

Michigan HB5383 amends the renewal fees for limited certificates of authority for insurance or reinsurance businesses. The renewal fees are adjusted based on the annual volume of insurance or reinsurance premiums received by the business. For annual premiums less than $5,000,000.00, the renewal fee is $5,000.00. For premiums equal to or greater than $5,000,000.00 but less than $10,000,000.00, the fee is $10,000.00. For premiums equal to or greater than $10,000,000.00 but less than $15,000,000.00, the fee is $15,000.00.