MI | The Michigan Department of Insurance and Financial Services has issued Bulletin 2024-21-INS. This bulletin supersedes Bulletin 2023-22-INS, dated November 28, 2023.
Section 2227 of the Michigan Insurance Code, 1956 PA 218 (Code), MCL 500.2227, allows eligible municipalities participating in the fire insurance withholding program to escrow 25% of fire insurance settlements for losses to real property within its boundaries, provided certain criteria are met. Continue reading
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