The Michigan Legislature is back in Lansing after a Summer recess, and they will be considering a crucial piece of legislation: The Policyholder Bill of Rights. This legislation, SB 329 in the Senate and HB 4681 in the House, would finally ensure that insurance companies act in good faith and adhere to the contracts that they sign with customers like you. The Policyholder Bill of Rights:

  • ENSURES that the insurance industry has a duty to honor their contracts and obligations in good faith and allows for legal recourse when the industry fails.
  • ESTABLISHES the right of consumers to have their claims investigated properly and handled fairly.
  • REQUIRES insurance companies to promptly pay valid, rightful claims on home, auto, life, and business policies.
  • PROTECTS consumers from loss based on policyholder needs, and not on insurance company profits.
  • CREATES reasonable industry standards for investigating and paying claims, as well as reasonable industry standards to protect consumers, businesses, and insurance companies.

For too long, the insurance industry has been allowed to deny and delay paying legitimate claims on policies, making everyday people suffer for their shareholder profits. This legislation goes a long way to making sure that you, your family, and the small businesses in your community have a level playing field when trying to recover from disaster.

Today, I ask you to take five minutes of your day to contact your Michigan State Rep and State Senator to urge them to pass this important legislation. All you need to do is click this link HERE and enter your address to find your elected officials. From there, you can use a form letter or write your own message in support of the Policyholder Bill of Rights. Your voice of support is critical in helping pass this long overdue legislation. Remember: you pay your premiums, so they need to keep their promises.

Lisa A. Welton