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(EMAILWIRE.COM, January 09, 2013 ) Dallas, TX -- An insurance fund has been ordered open in order to demonstrate how it decides upon setting annual rates which are levied on every Michigan car, which is supposed to pay for catastrophic injuries suffered.
An Ingham County judge set the decision in order to shed light on the Michigan Catastrophic Claims Association.
The association was created by the state Legislature to reimburse insurance companies for claims that were set at greater than $500,000.
Michigan has a no-fault insurance law that provides unlimited lifetime coverage for medical expenses tied to vehicular wrecks. Drivers in the state pay $175 per car per year, which is a sum that has seen an increase of 67% from its 2008 tally. Those charges are levied atop other charges made by insurers.
"It's plain and simple: This is the publics money, and the public has a right to know all the facts about how their money is managed and whether what they pay in premiums is adequate to handle future claims," said John Cornack, president of the Coalition Protecting Auto No-Fault, a group of health care, labor and consumer organizations.
The coalition and Brain Injury Association of Michigan had recently sued after a catastrophic claims association statement that claimed it was a private group and refused a public-records request. Judge Clindon Canady III stated the association was created by law and thus fits the definition of “public body.”
"Michigan citizens have a right to know how the insurance they pay is calculated to ensure that no-fault insurance is provided on a fair and equitable basis," the judge said in a 13-page decision dated Dec. 26.
Canaday also noted that the association must release information about how it calculates rate, along with the number of claims, administrative expenses, and the amount of money present within the reserve. The records becoming public will not mean the release of personal information.
Mike Dubbs, president of the Brain Injury Association stated that certain details about claims can help people judge the health of the fund without jeopardizing privacy.
"What's been requested is how they set their rates," he said. "How can they prove they're good stewards of our public money? That's not on their website. The public is owed some explanation,” Dubbs said.
About Uvalle Law:
Uvalle Law (http://www.uvallelaw.com/) provides expert representation for those who need it most. Learn about the extensive services provided and find out how Uvalle Law Firm can help anyone. Visit the website at UvalleLaw.com to learn more about a Dallas injury lawyer and Ft Worth laywer.
Uvalle Law
Customer Service
888-817-4074
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Source: EmailWire.com
(EMAILWIRE.COM, January 09, 2013 ) Dallas, TX -- An insurance fund has been ordered open in order to demonstrate how it decides upon setting annual rates which are levied on every Michigan car, which is supposed to pay for catastrophic injuries suffered.
An Ingham County judge set the decision in order to shed light on the Michigan Catastrophic Claims Association.
The association was created by the state Legislature to reimburse insurance companies for claims that were set at greater than $500,000.
Michigan has a no-fault insurance law that provides unlimited lifetime coverage for medical expenses tied to vehicular wrecks. Drivers in the state pay $175 per car per year, which is a sum that has seen an increase of 67% from its 2008 tally. Those charges are levied atop other charges made by insurers.
"It's plain and simple: This is the publics money, and the public has a right to know all the facts about how their money is managed and whether what they pay in premiums is adequate to handle future claims," said John Cornack, president of the Coalition Protecting Auto No-Fault, a group of health care, labor and consumer organizations.
The coalition and Brain Injury Association of Michigan had recently sued after a catastrophic claims association statement that claimed it was a private group and refused a public-records request. Judge Clindon Canady III stated the association was created by law and thus fits the definition of “public body.”
"Michigan citizens have a right to know how the insurance they pay is calculated to ensure that no-fault insurance is provided on a fair and equitable basis," the judge said in a 13-page decision dated Dec. 26.
Canaday also noted that the association must release information about how it calculates rate, along with the number of claims, administrative expenses, and the amount of money present within the reserve. The records becoming public will not mean the release of personal information.
Mike Dubbs, president of the Brain Injury Association stated that certain details about claims can help people judge the health of the fund without jeopardizing privacy.
"What's been requested is how they set their rates," he said. "How can they prove they're good stewards of our public money? That's not on their website. The public is owed some explanation,” Dubbs said.
About Uvalle Law:
Uvalle Law (http://www.uvallelaw.com/) provides expert representation for those who need it most. Learn about the extensive services provided and find out how Uvalle Law Firm can help anyone. Visit the website at UvalleLaw.com to learn more about a Dallas injury lawyer and Ft Worth laywer.
Uvalle Law
Customer Service
888-817-4074
news@postpressrelease.com
Source: EmailWire.com
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