Michigan Laws 500.3360 – Participating member and agent; relationship
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Michigan Laws 500.3360
- Facility: means the automobile insurance placement facility created pursuant to this chapter. See Michigan Laws 500.3303
- Participating member: means an insurer who is required by this chapter to be a member of the facility and who in any given calendar year has a participation ratio greater than zero in the facility for that year. See Michigan Laws 500.3303
A participating member may not include the premiums and losses incurred from risks insured through the facility in determining the loss ratio of any of its agents, or otherwise use the experience from such risks as cause for altering the relationship between the participating member and its agent.