Department of Insurance and Financial Services  
Insurance  
Administrative Rules for Term and Universal Life Insurance Reserve Financing  
Rule Set 2023-64 IF  
NOTICE OF PUBLIC HEARING  
Tuesday, June 4, 2024  
09:30 AM  
Ottawa Building, Conference Room #6  
611 West Ottawa Street, Lansing, Michigan 48933  
The Department of Insurance and Financial Services will hold a public hearing to receive public comments on  
proposed changes to the Term and Universal Life Insurance Reserve Financing rule set.  
The proposed rules govern reserve financing arrangements used by certain life insurers in reinsurance  
transactions to secure the reinsurance treaty or capitalize the reinsurer. The proposed rules ensure that funds  
backing these transactions are held in the appropriate form and level of security. The proposed rules would  
adopt Model Regulation #787 of the National Association of Insurance Commissioners.  
By authority conferred on the Director of the Department of Insurance and Financial Services in Sections 210  
and 1106 of the Insurance Code of 1956, 1956 PA 218, MCL 500.210 and 500.1106, and Executive  
Reorganization Order No. 2013-1, MCL 550.991.  
The proposed rules will take effect immediately after filing with the Secretary of State. The proposed rules are  
published on the State of Michigan's website at http://www.michigan.gov/ARD and in the 5/15/2024 issue of the  
Michigan Register. Copies of these proposed rules may also be obtained by mail or email at the following email  
address: [email protected].  
Comments on these proposed rules may be made at the hearing, by mail, or by email at the following addresses  
until 6/4/2024 at 05:00 PM:  
Michele Estrada, Administrative Assistant to the Director of the Office of Appeals, Legal Research, and Market  
Regulation  
Department of Insurance and Financial Services, Office of Appeals, Legal Research, and Market Regulation,  
P.O. Box 30220, Lansing, MI 48909-7720  
EstradaM1@michigan.gov  
The public hearing will be conducted in compliance with the 1990 Americans with Disabilities Act. If the hearing  
is held at a physical location, the building will be accessible with handicap parking available. Anyone needing  
assistance to take part in the hearing due to disability may call 517-284-8735 to make arrangements.  
;