The Michigan No-Fault medical fee schedule imposes restrictions on reimbursement rates for medical care providers who care for and treat car accident victims. Although the law empowers providers to charge a “reasonable amount” for their care, any amount that exceeds the fee schedule will not be paid.
Under the Michigan Supreme Court’s ruling in Andary v. USAA, the No-Fault medical fee schedule does not apply to insured car accident victims whose crash occurred before the effective date – June 11, 2019 – of the law that created the fee schedule.
For victims who were injured after that date, the fee schedule took effect on July 2, 2021.
The fallout...
The Texas Windstorm Insurance Association (TWIA) is looking at another relatively significant increase in its reinsurance purchase next year, as it projects it may need almost $5.8 billion of reinsurance and catastrophe bond limit, due to the near-erosion of its CRTF by hurricane Beryl and a still-rising PML.Each year, TWIA goes through a budgeting process where it defines its 1-in-100 year probable maximum loss (PML), its available capital resources, and looks to build its funding tower using private market reinsurance and catastrophe bonds.
Last year, the Board of the Texas Windstorm Insurance Association (TWIA) approved a 1-in-100 year PML for 2024 funding purposes at a new high...
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China’s National Financial Regulatory Administration (NFRA), the financial industry regulatory agency under the State Council of the People’s Republic, is continuing to promote Hong Kong as a venue for insurers and reinsurers to sponsor catastrophe bonds.Speaking at a conference...
Liberty Mutual Insurance has returned to the catastrophe bond market with a target to secure at least $225 million of indemnity based catastrophe reinsurance...
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Highlighting the still wide-range of uncertainty in insurance market loss estimates after hurricane Milton, catastrophe bond investment manager Icosa Investments AG has noted that...
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If you are able, take photos to document circumstances of the accident.
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Your agent is best positioned to advise you when they have all the facts.
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Make yourself visible no matter the time of day.
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