Michigan Compiled Laws
218-1956-28 - Chapter 28 Fire Insurance Contracts (500.2804...500.2866)
Section 500.2842 - Average or Pro Rata Clause; Form; Filing and Approval.

Sec. 2842.
(1) An insurer authorized to do business within this state may attach to an existing policy or to one to be issued by the insurer an average or pro rata clause.
(2) The average or pro rata clause shall be made substantially in the following form:
"It is hereby agreed, in case of loss, this policy shall attach in or on each building, division, or location in such proportion as the values in or on the buildings, division, or location bear to the aggregate value of the property insured."
(3) It shall not be necessary for all average or pro rata rider clauses to be in the exact language used in subsection (2), but such clause shall not be attached to a policy unless the form of the clause was filed with and received the approval of the commissioner.
History: 1956, Act 218, Eff. Jan. 1, 1957 ;-- Am. 1962, Act 71, Eff. Mar. 28, 1963 ;-- Am. 1990, Act 305, Imd. Eff. Dec. 14, 1990 Popular Name: Act 218

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Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 500 - Insurance Code of 1956

Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)

218-1956-28 - Chapter 28 Fire Insurance Contracts (500.2804...500.2866)

Section 500.2804 - Fire Insurance Contracts on Property Herein Deemed Made in Michigan.

Section 500.2806 - Policy or Contract of Fire Insurance; Requirements.

Section 500.2807, 500.2808 - Repealed. 1990, Act 305, Imd. Eff. Dec. 14, 1990.

Section 500.2810 - Printing Regulations on Fire Policy.

Section 500.2812 - Combination Fire Policy; Mandatory Provisions.