500.2421 Insurer authorized to write worker's compensation insurance; prohibited acts.
172 words·~1 min read·
/mi/chapter-500/500-2421A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
500.2421 Insurer authorized to write worker's compensation insurance; prohibited acts.
Sec. 2421.
As a condition of maintaining its certificate of authority, an insurer authorized to write worker's compensation insurance shall not do any of the following:
(a)Be a member of a rating organization in this state for worker's compensation insurance or have any rates, rules, or forms filed on its behalf with regard to worker's compensation insurance in this state by a rating organization.
(b)Except as necessary to operate the residual market under chapter 23, agree with any other insurer or with an advisory organization to adhere to or use any rate, rating plan, rating schedule, rating rule, or underwriting rule with regard to worker's compensation insurance in this state.
(c)Make any agreement with any other insurer, advisory organization, or any other person which has the purpose or effect of restraining trade or of substantially lessening competition with regard to worker's compensation insurance in this state.
History: Add. 1982, Act 7, Eff. Jan. 1, 1983
Popular Name: Act 218