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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