As you may have seen in recent publications, the Michigan Catastrophic Claims Association (MCCA) Board of Directors has approved approximately $3.0 billion in surplus that will be refunded to policyholders.
This is what we know as of now:
Policies that were in place as of 11:59 pm on October 31st, 2021 qualify for a refund.
Insured drivers will receive $400 for every vehicle (including motorcycles) insured as of the date stated above. Vehicles in storage will not receive a refund.
Historical vehicles will receive $80 per vehicle.
It’s anticipated that the MCCA will begin to send the funds to providers for distribution by March 9th, 2022. Refund checks will be processed and sent after this date. Policyholders enrolled in E-Refunds will receive their refund electronically.
If you’re a client of ours and have any further questions, please don’t hesitate to contact your Insurance Network agent for more information!
We ask more questions than most agencies because each client is different. We're not a one size fits all shop.
We need to know a greater depth of your circumstances to draft a quality proposal that not only protects your current situation but also your future. Together, we'll put into place a portfolio specifically tailored to you and your needs.