Michigan SB0977 amends the insurance act to allow the Department of Insurance and Financial Services to apply for a federal waiver to establish a.

Michigan SB0977 amends the insurance act by adding a section that allows the Department of Insurance and Financial Services to apply for a state innovation waiver from the federal government. This waiver would enable the establishment of a reinsurance program. The department must make a draft application available for public review and comment before submitting the final application. Upon approval, the department will implement the reinsurance program and report to the appropriation committees on necessary funding. The act will only take effect if Senate Bill No. 973 is enacted into law.

Michigan SB0977 amends the insurance act to allow the Department of Insurance and Financial Services to apply for a federal waiver to establish a.

Michigan SB0977 amends the insurance act by adding a section that allows the Department of Insurance and Financial Services to apply for a state innovation waiver from the federal government. This waiver would enable the establishment of a reinsurance program. The department must make a draft application available for public review and comment before submitting the final application. Upon approval, the department will implement the reinsurance program and report to the appropriation committees on necessary funding. The act will only take effect if Senate Bill No. 973 is enacted into law.