State Specific Flashcards

Question

Long Term Care Education Requirements

Answer 1

If duties include transacting long-term care insurance must complete a one-time initial 8 hour long-term care training course before selling, soliciting, or negotiating long-term care insurance. 4 hours of ongoing training every 2 years.

Answer 2

A producer may not act as an agent unless they are appointed as an agent by the insurer. When an insurance producer is not acting as an agent of the insurer, they are not required to become appointed. An insurance producer may not bind coverage for an insurer unless the insurance producer is appointed by the insurer.

Answer 3

Must be sent to the Director for a producer to become an agent. Must contain the qualifications held by the producer. Appointing insurer must file a notice of appointment 15 days after contract is executed or when app is submitted. Director will determine within 30 days, if producer is not eligible it will only take 5 days. Appointment and renewal fees for each appointed producer.

Answer 4

An insurer who terminates an appointment, employment, contract, or other insurance business relationship with a producer must notify the Director within 30 days after the effective date of the termination.If the insurer discovers additional information regarding the termination, during further review or investigation, that would be deemed reportable by the Director, the insurer must relay such information to the Director immediately in an approved format. Within 15 days after notifying the Director of termination of appointment, the insurer will mail a copy of the notification to the producer. If a producer’s authority to represent an insurer is terminated, the responsibility of an insurance producer having property rights in the renewal will continue until the existing policies of insurance are cancelled, replaced, or have expired.

Answer 5

May service existing policies until they are cancelled, replaced, or expired. May not bind a new risk, renew, or increase the obligation of the insurer without approval. The insurer may not cancel or refuse a new policy because of termination of producer's contract.

Answer 6

Malfeasance Breach of duty or trust A violation of the insurance code Failure to meet the terms of the contract between the parties Submission of less than 25 applications for auto and home insurance within the preceding 12-month period

Answer 7

May not be paid to anyone who is not licensed.

Answer 8

Before denying an application for a license, the Director must notify the applicant or licensee of the denial in writing, including the reason for the denial. Not later than 30 days after this notice, the applicant or licensee may request a hearing before the Director to determine the reasonableness of the Director’s action.

Answer 9

When a person has engaged in an unfair or deceptive act or practice, and the Director determines that a hearing would be in the interest of the public, the Director will give notice in writing to the person involved, including the general nature of the complaint and the proceedings contemplated. If an unfair or deceptive practice is not specified in the insurance code, the Director may still serve upon the violator a statement of the charges and a notice of a hearing of at least 15 days. The Director may issue subpoenas to require attendance and testimony of witnesses and the production of documents necessary to conduct a hearing. The subpoenas may be enforced by the circuit court.

Answer 10

Without prior hearing, the Director may order summary suspension of a license if they find that protection of the public requires emergency action and incorporates this finding in their order. The suspension will become effective on the date specified in the order or upon service of a certified copy of the order on the licensee, whichever is later. If requested, the Director may conduct a hearing on the suspension not later than 20 days after the suspension, unless the person whose license is suspended requests a later date. The Director will announce their decision within 30 days after conclusion of the hearing. The suspension will continue until the decision is announced.

Answer 11

When it appears to the Director that any person has committed a violation of insurance law which makes the continued operation of an insurer contrary to the interests of policyholders or the public, the Director, after giving notice and an opportunity to be heard, may suspend, revoke or refuse to renew the insurer’s license or authority to do business in Michigan.

Answer 12

Payment of a monetary penalty of not more than $1,000 per violation, not to exceed $10,000 for the same violation Payment of a monetary penalty of not more than $5,000 per violation, not to exceed $50,000 for violations committed within a 6-month period if the person knew or reasonably should have known that their actions were a violation Suspension or revocation of a person’s license if they knowingly and persistently violated any provision of the law A refund of any overcharges Restitution to the insured to cover incurred losses, damages, or other harm due to the act of the person in violation Violation of the statutes regulating rebating and misrepresentation is a misdemeanor, subject to a fine of up to $100 per rebating or inducement violation, or up to $2,000 for each misrepresentation violation. Both types of violation are also subject to a jail term at the discretion of the Director. The amount of the insurance will be reduced in proportion to the value of any rebate.

Answer 13

If it is determined that a person has engaged in an unfair method of competition, or an unfair or deceptive act or practice, the Director will issue an order requiring the person to cease and desist from engaging in further acts or practices. If the Director orders a person to cease and desist, the person may file a notice of appeal and may appeal any final order. If a person knowingly violates a cease and desist order, the Director may order a civil fine of up to $20,000 for each violation, a suspension or revocation of the person’s license, or both. Fines may not exceed a total of $100,000.

Answer 14

``` Misrepresentation False Information and Advertising Inducement False Statements Deception Boycott, Coercion, Intimidation ```

Answer 15

A person who knowingly makes a misrepresentation will be subject to a fine of up to $2,000 or imprisonment in the county jail.

Answer 16

Any person found guilty of an intentional violation will be found guilty of a misdemeanor and will be subject to a fine of up to $1,000, or imprisonment for up to 6 months, or both. Any person found guilty of an intentional violation will be found guilty of a misdemeanor and will be subject to a fine of up to $1,000, or imprisonment for up to 6 months, or both. Any producer, officer, or director of an insurer, after publishing a false advertisement, receives any payment as consideration for an insurance policy issued, will be liable to the insured for either repayment or the amount of insurance. Any producer, officer, or director of an insurer doing business in Michigan, may not issue any false or misleading advertisement concealing the true identity of the insurer carrying the liability under the policy. Any advertisement must print the name of the company assuming the risk more conspicuously than and department or general agency of the insurer. Violators will be found guilty of a misdemeanor and subject to a fine of up to $500.

Answer 17

The amount of insurance placed on any person who knowingly accepts an illegal inducement will be reduced in proportion to the amount of consideration received and the insured person will be guilty of a misdemeanor and be subject to a fine of up to $100. Any person that provides an illegal inducement will be guilty of a misdemeanor and subject to a fine of up to $100 or imprisonment in the county jail. They may also be subject to license revocation, and may not seek a new license for one 1 year following the violation.

Answer 18

A person may not willfully withhold information from, or give false or misleading information to, the Director, any statistical agency, rating organization, data collection agency, or insurer, that might affect rates or premiums. Any person in violation is subject to a fine of up to $1,500.

Answer 19

insurers may not: Refuse to insure, refuse to continue to insure, or limit the amount of coverage available to an individual or risk because of: Race, color, creed, sex, or national origin Marital status, except when used to classify individuals or risks to insure family units The residence, age, disability, or lawful occupation of the individual For property insurance, the location of the risk, unless there is a statistically significant relationship between the location and a risk of loss due to fire Refuse to insure or refuse to continue to insure an individual or risk solely because the applicant was previously denied coverage by a different insurer

Answer 20

Insurers may not charge different rates, require greater premiums, or reduce coverage on a policy for a person of color compared to a policy for a white person of the same age, sex, and general health condition. Insurers who violate this law are subject to a $500 penalty per violation. Agents who violate this law will be guilty of a misdemeanor and subject to imprisonment for up to 1 year in the county jail, a $50–$500 fine, or both.

Answer 21

An insurer or producer may not offer. promise, allow, give, or pay, directly or indirectly, any rebate of premiums due, commission, earnings, profit, stocks, bonds, securities, dividends or other benefits, or any valuable consideration or inducement not specified in the policy. A property-casualty insurer or producer is allowed to give an applicant for or an insured under a property-casualty insurance policy an article of merchandise that costs the insurer $50 or less per calendar year. A producer whose license is revoked for rebating, or an insurer whose certificate of authority is revoked for rebating, cannot reapply for a new license or certificate for 1 year following the violation.

Answer 22

A producer is a fiduciary for all money received or held in their capacity as a producer. Failure to turn over money in a timely manner that a producer holds in a fiduciary capacity to the persons for which it is owed is a violation of the producer’s fiduciary responsibility.

Answer 23

Chapter 45 of the Michigan Insurance Code defines fraudulent acts

Answer 24

composed of 5 member insurers and 2 persons representing the general public, appointed by the Director to serve for terms of 3 years.

Answer 25

Workers’ Compensation Automobile Title Fire, farm, homeowners, inland marine, earthquake, and credit insurance All other kinds of insurance except life and disability

Answer 26

All fire policies may be cancelled at any time at the request of the insured. The minimum earned premium may not be less than the pro rata premium for the expired time or $25, whichever is greater. The policy may be cancelled at any time by the insurer by mailing a written notice of cancellation to each named insured in the policy at the insured’s last known address at least 10 days before the cancellation. If a loss is payable to a designated mortgagee not named as the insured, the insurer may cancel the policy by providing written notice to the mortgagee at least 10 days before the cancellation.

Answer 27

If an insurance policy is to be cancelled within the first 55 days after the initial issuance of the policy, the insurer must provide at least 20 days’ written notice to the insured. A notice of termination for nonpayment of premium will be effective as provided in the policy. Prior to terminating an existing policy, such as Homeowners insurance, insurers in Michigan must provide the insured at least 30 days’ written notice. The termination will not be effective unless the insurer delivers or mails the notice to the named insured’s last known address. There are some exceptions to this general rule.

Answer 28

Refusal to renew an existing policy also requires at least 20 days’ written notice.

Answer 29

The policy may be cancelled at any time at the request of the insured and the insurer must refund the excess of paid premium The policy may be cancelled at any time by the insurer by mailing at least 10 days’ written notice of cancellation The minimum earned premium on any policy cancelled, other than automobile insurance, will be at least the pro rata premium or $25, whichever is greater An insurer may refuse to renew a malpractice insurance policy only by mailing to the insured at least 60 days’ written notice of refusal to renew.

Answer 30

If a Personal Auto policy is to be cancelled within the first 55 days after the initial issuance of the policy, the insurer must provide at least 20 days' written notice to the insured. The notice must include reasons for cancellation, and the insured does not have the right to appeal. In other circumstances, where the insured has the right to appeal cancellation, the notice of cancellation must contain the reason for cancellation and the insured's right to appeal to the Department. The appeal must occur within 7 days from the date of mailing the notice. A notice of termination for nonpayment of premium will be effective as provided in the policy.

Answer 31

makes personal auto and home insurance available to all Michigan citizens

Answer 32

Rates must not be excessive, inadequate, or unfairly discriminatory. A rate is considered to be excessive if it is unreasonably high for the coverage provided, and a reasonable degree of competition does not exist for the insurance to which the rate is applicable. A rate is considered to be inadequate if: It is unreasonably low for the insurance coverage provided, and its continued endangers the solvency of the insurer Use of the rate has the effect of destroying competition among insurers, creating a monopoly, or causing a kind of insurance to be unavailable to a significant number of applicants who are entitled to procure it

Answer 33

An insurer may establish and maintain a premium discount plan if the plan is consistent with the purposes of this act and reflects reasonably anticipated reductions in losses or expenses.

Answer 34

An insured may not be unreasonably restricted from using a particular person or business for an automobile repair, glass repair, or replacement service. An automobile insurer must disclose whether it has an agreement with any repair or replacement facility and must inform an insured that they are under no obligation to use a particular repair or replacement facility.

Answer 35

An insurer may establish or maintain for home insurance a premium discount plan for senior citizens in this state who are at least 55 years of age or older, if the plan is uniformly applied by the insurer throughout this state. An automobile insurer may offer a premium discount to insureds 50 years of age and older who successfully complete a traffic accident prevention course, for 3 years after completion of the course.

Answer 36

A person who has reason to believe that an insurer improperly denied automobile insurance or home insurance or charged them an incorrect premium is entitled to a private conference with the insurer, and to a review before the Director if the conference with the insurer fails to resolve the dispute.

Answer 37

Provide each eligible person seeking automobile insurance or home insurance the lowest available premium quotation for the forms or types of insurance offered by the insurers represented by the agent Inform the eligible person of the number of insurers that the agent represents Refrain from channeling an eligible person away from an insurer or coverage with the purpose of avoiding the obligation to submit an application, or to accept an eligible person Upon request, submit an application to an insurer selected by the eligible person For renewal of automobile insurance, provide the following annually: An explanation of the insurance eligibility point system A statement that if the insured may qualify for insurance from more than one insurer, and possibly at a lower rate A statement that the agent will, upon request, furnish quotations from all insurers represented by the agentProvide each eligible person seeking automobile insurance or home insurance the lowest available premium quotation for the forms or types of insurance offered by the insurers represented by the agent Inform the eligible person of the number of insurers that the agent represents Refrain from channeling an eligible person away from an insurer or coverage with the purpose of avoiding the obligation to submit an application, or to accept an eligible person Upon request, submit an application to an insurer selected by the eligible person For renewal of automobile insurance, provide the following annually: An explanation of the insurance eligibility point system A statement that if the insured may qualify for insurance from more than one insurer, and possibly at a lower rate A statement that the agent will, upon request, furnish quotations from all insurers represented by the agent

Answer 38

An automobile insurer may not deny or limit coverage, charge a reinstatement fee, or increase the premiums solely because a person failed to maintain insurance during the 6-month period immediately preceding application if the person was on active duty in the armed forces of the United States for at least 30 consecutive days and that the vehicle was not driven or moved during the 6-month period immediately preceding application.

Answer 39

If an insurer uses an inspection of a dwelling to determine if the insured/applicant is eligible for home insurance, criteria for selecting dwellings for inspection can’t be based upon any of the following: Location The age of the dwelling or its structural components The market value, unless the value is used as a minimum value above which all dwellings will be inspected The amount of insurance, unless the amount is used as a minimum above which all dwellings will be inspected Race, color, creed, marital status, sex, national origin, residence, age, disability, or lawful occupation

Answer 40

A written explanation must be provided within 90 days after request. A refusal, by an insurer or agent, to provide upon request an application form or other means of making an application or request for coverage will be considered a declination. Declination also includes: Refusal by an agent to submit an application on behalf of an applicant to any represented insurers Refusal to issue insurance upon receipt of an application for insurance Offering insurance at higher rates with a different insurer than that requested Offering coverage with less favorable terms or conditions than those requested

Answer 41

All Dwelling Policies issued in Michigan must include the Special Provisions endorsement, which amends the policy.

Answer 42

If the insured’s spouse ceases to be a resident of the same household during the policy period, they will still be considered a named insured but only until the earlier of the effective date of another policy listing the spouse as a named insured or the end of the policy period. The Intentional Loss Exclusion does not apply with respect to loss caused by fire to an insured who does not commit or conspire to commit any act that results in loss by fire. The loss is covered to the extent of the insured’s legal interest, not to exceed the limit of liability. The Concealment or Fraud Provision is replaced with a statement that no coverage will be provided for loss to a person insured under the policy who has intentionally concealed or misrepresented any material fact or circumstance, engaged in fraudulent conduct, or made false statements relating to insurance. This replaces the current language that the policy will be void. The subrogation provision is amended so that the insured’s right to recovery may not be waived The Suits Against Us Provision has been changed to state that no action can be taken against us unless there has been full compliance with all the terms under this policy and the action is started within 2 years after the date of loss. Under the Loss Payment Provision, losses are payable 30 days after insurer’s receipt of proof of loss, rather than 60 The Cancellation Provision has been changed to state that if a policy has been in effect for less than 55 days and is not a renewal, the insurer may cancel a policy by letting the insured know at least 30 days before the date of cancellation. This was changed from 60 and 10 days. The Cancellation Provision added the following: The minimum earned premium will not be less than the pro rata premium for the expired time or $25, whichever is greater.

Answer 43

30 days after proof of loss

Answer 44

the owner-occupant or tenant of a dwelling of any of the following: house, condominium unit, cooperative unit, room or apartment; or the owner-occupant of a multiple unit dwelling of not more than 4 units.

Answer 45

A person who has been convicted, in the immediate preceding 5-year period, of malicious arson, arson involving insurance fraud, burglary with explosives, malicious destruction of property, or any other destructive criminal acts specified in the Michigan penal code A person who has successfully been denied (within the immediate 5-year period) payment by an insurer of a claim under a home insurance policy based on evidence of arson, fraud, or conspiracy to commit arson or fraud A person who insures or seeks to insure a dwelling that is being used for an illegal or demonstrably hazardous purpose A person who refuses to purchase an amount of insurance equal to at least 80% of the replacement cost under a replacement cost policy, or 100% of the market value of the property under a repair cost policy, or 100% of the actual cash value of property insured under a renters insurance policy A person whose homeowners policy has been cancelled because of nonpayment of premium within the immediately preceding 2-year period, unless the premium is paid in full before renewal A person who insures a dwelling that has physical conditions that present a clear likelihood of significant loss A person whose real property taxes on the insured property have been delinquent for 2 years or more at the time of renewal or application for home insurance

Answer 46

Minimum - 50/100/10 | Default - 250/500/10

Answer 47

Assigned Risk Plan. Guarantees insurance to anyone unable to obtain it through normal channels. Every insurance company that writes auto insurance in the state of MI must participate.

Answer 48

Nonprofit that reimburses no-fault insurers for PIP medical claims that exceed $580,000.

Answer 49

pay out up to $3000 in the event the insured is at fault for an accident and other party's collision insurance does not fully cover their damages

Answer 50

now state that insurers are no longer ale to use factors such as gender, marital status, home ownership, credit score, education level. occupation, or zip code when setting coverage rates.

Answer 51

In coordination with the Michigan Department of Attorney General, an entity to investigate and prevent fraudulent activity in the insurance industry.

Answer 52

an additional 12% of interest per year is applied if a PIP claim is not paid out to the insured within 30 days of a loss. If failure to pay exceeds 60 days, the claim is considered overdue.

Answer 53

The physical condition of the property based on local housing and safety code For renewal of homeowners insurance, the claim history of the insured during the 3-year period immediately preceding renewal of the policy, if the history is based on Claim experience arising out of the insured’s negligence and/or Failure by the insured, after written notice from the insurer, to correct a physical condition directly related to a paid claim or that presents a clear risk of a significant loss The relationship between the market value and replacement cost of a dwelling for a replacement cost policy For nonrenewal of a homeowners policy, the claim history under the policy if there has been 1 or more of the following: Three paid claims within the immediately preceding 3-year period totaling $3,000 or more, not including weather-related claims Three paid claims within the immediately preceding 3-year period totaling $4,000 or more, including weather-related claims Whether the number of dwelling residence are inconsistent with the form approved by the Director Whether the dwelling has been unoccupied for more than 60 days and if there is evidence to vacate or keep the property vacant or unoccupied One or more incidents involving a threat, harassment, or physical assault by the insured on an insurer employee or agent while acting within the scope of their employment

Answer 54

If the insured’s spouse ceases to be a resident of the same household during the policy period, they will still be considered a named insured but only until the earlier of the effective date of another policy listing the spouse as a named insured or the end of the policy period. The Intentional Loss Exclusion does not apply with respect to loss caused by fire to an insured who does not comit or conspire to commit any act that results in loss by fire. The loss is covered to the extent of the insured’s legal interest, not to exceed the limit of liability. The Concealment or Fraud Provision is replaced with a statement that no coverage will be provided for loss to a person insured under the policy who has intentionally concealed or misrepresented any material fact or circumstance, engaged in fraudulent conduct, or made false statements relating to insurance. This replaces the current language that the policy will be void. The subrogation provision is amended so that the insured’s right to recovery may not be waived The Suits Against Us Provision in Section I has been changed to state that no action can be taken against us unless there has been full compliance with all the terms under this policy and the action is started within 2 years after the date of loss. Under the Loss Payment Provision, losses are payable 30 days after insurer’s receipt of proof of loss, rather than 60 The Cancellation Provision has been changed to state that if a policy has been in effect for less than 55 days and is not a renewal, the insurer may cancel a policy by letting the insured know at least 30 days before the date of cancellation. This was changed from 60 and 10 days. The Cancellation Provision added the following: The minimum earned premium will not be less than the pro rata premium for the expired time or $25, whichever is greater. Under Section II Personal Liability, the insurer’s limit of liability for damages does not include prejudgement interest awarded against the insured. The exclusion for controlled substance is amended to include coverage for an insured who had no knowledge of the involvement with a controlled substance. Knowledge must be shown by providing complete evidence of the knowledge. If there is other liability insurance, the insurer’s limit of liability is its pro rata share of the loss

Answer 55

owner or registrant of an automobile registered or to be registered in Michigan, or has a valid MI driver’s license

Answer 56

A person who is not required to maintain coverage on an automobile unless the person intends to reside in Michigan for more than 30 days and makes a written statement of their intention A person whose license to operate a motor vehicle is under suspension or revocation A person who, within the immediately preceding 5-year period, was convicted of fraud or intent to defraud involving an insurance claim or an application for insurance A person who, within the immediately preceding 5-year period, was successfully denied payment of a claim in excess of $1,000 under an automobile policy based on evidence of fraud involving an insurance claim A person who, within the immediately preceding 3-year period, was convicted of any of the following: Committing a moving violation that was the proximate cause of death or serious impairment of a body function of another person, or any other violation that is considered a felony resulting from the operation of a motor vehicle Operating a motor vehicle while intoxicated and by operation of the vehicle causes death or serious impairment of a body function of another person Reckless driving on a highway, frozen public lake, or other place open to the general public, willfully disregarding the safety of persons or property, and by operation of the vehicle causes death or serious impairment of a body function of another person Leaving the scene of an accident the driver has reason to believe they were involved in and/or failing to report the accident to the police if the accident results in serious impairment of body function or death A person whose vehicle fails to meet the motor vehicle safety requirements of the Michigan Vehicle Code A person whose automobile policy has been cancelled because of nonpayment of premium within the immediately preceding 2-year period, unless the premium was paid in full before the renewal of the policy A person whose driving record for the 3-year period immediately preceding application or renewal has an accumulation of more than 6 eligibility points Eligibility points are not the same as points on a person’s driving record. They are points assigned by the insurance company, based on driving violations, used to determine eligibility for insurance.

Answer 57

As a condition of maintaining its certificate of authority, an insurer may not refuse to insure, continue to insure, or limit the coverage available to an eligible person for automobile insurance, except in accordance with their established underwriting rules as filed with the Director.

Answer 58

The insurance eligibility point accumulation exceeds 6 eligibility points from violations within the past 3 years. This includes a violation by any member of the household of the eligible insured, if the member accounts for 10% or more of the use of the insured vehicle Substantial modifications from the insured or to be insured vehicle from that vehicle’s original manufactured state for purposes of increasing the speed of the vehicle Failure by the insured or proposed insured to provide proof that required insurance was in force on any vehicle owned and driven by the insured or by a member of the household during the 6-month period immediately preceding application The type of vehicle insured or to be insured, regardless of age of the vehicle, based on 1 of the following: The vehicle is of limited production or of custom manufacture The insurer does not have a rate lawfully in effect for the type of vehicle The vehicle represents exposure to extraordinary expense for the repair or replacement under physical damage coverage Use of the insured vehicle for transportation of passengers for hire, rental purposes, or commercial purposes, but not for volunteer or charitable purposes One or more incidents involving a threat, harassment, or physical assault by the insured on an insurer employee or agent while acting within the scope of their employment

Answer 59

An owner or registrant of a motor vehicle must maintain security to register the vehicle in this state. Security may be obtained through the purchase of automobile insurance, which is considered proof of financial responsibility, and must be purchased from an insurance carrier authorized to transact business in Michigan. In lieu of purchasing an insurance policy, security may also be maintained by other methods approved by the Secretary of State, such as a bond or self-insurance.

Answer 60

Required limits of bodily injury and property damage liability coverage No-fault coverage requirements for personal protection, property protection, and residual liability insurance for amounts in excess of the required minimum Comprehensive and collision physical damage coverage Any other coverage as required by the Director

Answer 61

``` Motorcycle Moped Farm tractor Off-road recreational vehicle Golf cart Electric bicycle ```

Answer 62

must provide security against loss from liability for property damage, bodily injury, or death suffered by a person arising out of the ownership, maintenance, or use of that motorcycle. First-party medical payments must be offered by insurers of motorcycles in increments of $5,000.

Answer 63

may not operate a motor vehicle or motorcycle in this state for more than 30 days in a calendar year unless they maintain security for the payment of benefit

Answer 64

guilty of a misdemeanor. They may be fined not less than $200 or more than $500, imprisonment for not more than 1 year, or both.

Answer 65

may be given by filing with the secretary of state the written certificate of insurance through a carrier authorized to do business in Michigan. The certificate must give the effective date of the policy and designate all motor vehicles covered. No vehicle may be registered in the name of any person required to file proof of financial responsibility unless such proof is furnished for the vehicle. The owner of a motor vehicle must produce evidence of motor vehicle insurance upon the request of a police officer. The owner or operator of a vehicle who fails to provide proof of insurance to an officer is responsible for a civil infraction. If an individual shows proof of insurance on an electronic device, the police officer may only view the certificate of insurance and may not view or manipulate any other content on the electronic device. A police officer is not presumed to have consent to search an individual’s electronic device.

Answer 66

The default bodily injury/property damage (BI/PD) coverage liability limits are 250/500/10: $250,000 per person, $500,000 per occurrence for two or more persons in any one accident for bodily injury, and $10,000 per occurrence for property damage in another state. Drivers have the option of purchasing other limits, but the required minimum auto liability insurance limits in Michigan are 50/100/10.

Answer 67

During the time that a transportation network company (Uber and Lyft) driver is logged on to the transportation network company’s digital network and is available to receive transportation requests but is not engaged in a prearranged ride, all of the following types of automobile insurance satisfy the financial responsibility requirements: Residual third party automobile liability insurance in the amount of $50,000 per person for death or bodily injury, $100,000 per incident for death or bodily injury, and $25,000 for property damage. Personal protection insurance and property protection insurance in the amounts and of the types of coverage required

Answer 68

Residual third party automobile liability insurance with a minimum combined single limit of $1 million for all bodily injury or property damage. Personal protection insurance and property protection insurance in the amounts and of the types of coverage required

Answer 69

A no-fault policy provides for payment of benefits for personal protection insurance, property protection insurance, and residual liability insurance for amounts that exceed the minimum requirements.

State Specific Flashcards

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