Mich. Admin. Code R. 500.1504 - Inadequate rates
Rule 4. For purposes of section 2109(1)(b) of the code, MCL 500.2109, all of the following apply in determining whether a rate for automobile insurance or home insurance is inadequate:
(a) A rate is unreasonably low for the
insurance coverage provided if it is unreasonably low in relation to
anticipated losses or expenses, or both, or to the uncertainty of loss for the
insurance coverage provided.
(b)
Applicants who are in good faith entitled to procure the insurance through
ordinary methods are the persons who are eligible persons, as defined in
section 2103(1) or (2) of the code, MCL 500.2103, with respect to that
insurance.
Notes
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