Michigan § 550.620 Payment of claims; claim files; group insurance claims.

Michigan Statutes

§ 550.620 — Payment of claims; claim files; group insurance claims.

Michigan § 550.620

Ch. 550GENERAL INSURANCE LAWS

Act 173 of 1958CREDIT INSURANCE ACT (550.601-550.624)

This text of Michigan § 550.620 (Payment of claims; claim files; group insurance claims.) is published on Counsel Stack Legal Research, covering Michigan primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mich. Comp. Laws § 550.620 (2026).

Text

CREDIT INSURANCE ACT (EXCERPT) Act 173 of 1958 550.620 Payment of claims; claim files; group insurance claims. Sec.

20.All claims shall be promptly reported to the insurer or its designated claim representative, and the insurer shall maintain adequate claim files. All claims shall be settled as soon as possible and in accordance with the terms of the insurance contract. All claims shall be paid either by draft drawn upon the insurer or by check of the insurer to the order of the claimant to whom payment of the claim is due pursuant to the policy provisions, or upon direction of such claimant to one specified. No plan or arrangement shall be used whereby any person, firm or corporation other than the insurer or its designated claim representative shall be authorized to settle or adjust cla

Free access — add to your briefcase to read the full text and ask questions with AI

CREDIT INSURANCE ACT (EXCERPT) Act 173 of 1958 550.620 Payment of claims; claim files; group insurance claims. Sec. 20. All claims shall be promptly reported to the insurer or its designated claim representative, and the insurer shall maintain adequate claim files. All claims shall be settled as soon as possible and in accordance with the terms of the insurance contract. All claims shall be paid either by draft drawn upon the insurer or by check of the insurer to the order of the claimant to whom payment of the claim is due pursuant to the policy provisions, or upon direction of such claimant to one specified. No plan or arrangement shall be used whereby any person, firm or corporation other than the insurer or its designated claim representative shall be authorized to settle or adjust claims. The creditor shall not be designated as claim representative for the insurer in adjusting claims; but a group policyholder, by arrangement with the group insurer, may draw drafts or checks in payment of claims due to the group policyholder subject to audit and review by the insurer.

Legislative History

1958, Act 173, Eff. Sept. 13, 1958 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibilities of the insurance bureau and the commissioner of insurance to the commissioner of the office of financial and insurance services and the office of financial and insurance services, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.