DEPARTMENT OF CONSUMER AND INDUSTRY SERVICES  
INSURANCE BUREAU  
REFUND OF UNEARNED PREMIUM ADJUSTMENT  
(By authority conferred on the commissioner of insurance by sections 210 and 7925 of  
Act No. 218 of the Public Acts of 1956, as amended, being SS500.210 and 500.7925 of the  
Michigan Compiled Laws)  
R 500.351 Unearned premium refunds from insolvent insurers; annual  
adjustment.  
Rule 1. Annually, the commissioner of insurance shall adjust the maximum amount of  
unearned premiums which shall constitute  
a
covered claim prescribed in section  
7925(2)(a) of Act No. 218 of the Public Acts of 1956, as amended, being S500.7925(2)(a)  
of the Michigan Compiled Laws, by the ratio of the national consumer price index as  
calculated by the United States department of labor for all items for March of each year to  
the corresponding consumer price index 1 year earlier, rounded to the nearest dollar. If the  
index is unavailable, the commissioner shall make a reasonable approximation. The  
effective date of the adjustment shall be July 1 of each year. The commissioner shall notify  
all interested parties of the adjustment.  
History: 1981 AACS.  
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