Mich. Bill Would Limit Insurance Rate Hikes In Some Zones

Law360, New York (July 20, 2012, 7:35 PM EDT) -- A group of 21 Michigan state lawmakers introduced a bill Wednesday that would restrict the ability of insurers to hike premiums for homeowners and auto policies in areas with significantly declining populations.

House Bill 5782 would let city councils designate "insurance renaissance zones," areas that have suffered a population drop of 10 percent or more since the last census, which the federal government takes every 10 years. If the bill wins approval, insurers would be barred from raising premiums for certain homeowners and auto insurance policies...
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