Sec. 2600.
The purpose of this chapter is to promote the public welfare by regulating insurance rates to the end that they shall not be excessive, inadequate or unfairly discriminatory, and to authorize and regulate cooperative action among insurers in rate making and in other matters within the scope of the insurance code. Nothing in this chapter is intended (1) to prohibit or discourage reasonable competition, or (2) to prohibit, or encourage except to the extent necessary to accomplish the aforementioned purpose, uniformity in insurance rates, rating systems, rating plans or practices. Conformity with this chapter shall not be deemed to be a violation of section 2075 (compacts to restrain competition prohibited). This chapter shall be liberally interpreted to carry into effect the provisions of this section.
History: 1956, Act 218, Eff. Jan. 1, 1957 Popular Name: Act 218Admin Rule: R 501.251 et seq. of the Michigan Administrative Code.
Structure Michigan Compiled Laws
Chapter 500 - Insurance Code of 1956
Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)
218-1956-26 - Chapter 26 Fire and Inland Marine Rates (500.2600...500.2674)
Section 500.2600 - Purpose of Chapter; Construction.
Section 500.2601 - Scope of Chapter.
Section 500.2603 - Rate-Making Provisions; Uniformity.
Section 500.2604 - Expired. 1980, Act 461, Eff. Dec. 31, 1980.
Section 500.2610 - Filing Requirements; Modification or Suspension by Insurance Commissioner.
Section 500.2612 - Rate Filings; Adherence by Insurer.
Section 500.2614 - Rate Organization; Excess Rates on Specific Risks.
Section 500.2618 - Failure of Filing to Meet Requirements; Procedure.
Section 500.2630 - Rating Organization; License Application, Contents.
Section 500.2646 - Rating Organizations; Deviation, Procedure, Termination of Deviation.
Section 500.2648 - Rating Organizations; Alternative Methods for Deviation.
Section 500.2650 - Rating Organizations; Member or Subscriber, Appeal to Insurance Commissioner.
Section 500.2652 - Rating Organization and Insurer; Rating Information to Insured, Hearing; Appeal.
Section 500.2658 - Joint Underwriting or Reinsurance; Unfair Activities.
Section 500.2662 - Examination of Rating Advisory Organizations; Report.
Section 500.2664 - Statistical Plans; Exchange of Data, Consultation.
Section 500.2666 - Withholding Information, False or Misleading Information; Penalties.
Section 500.2674 - Insurance Commissioner; Regulatory Powers.