Property and Casualty Guaranty Association

What this document is

Michigan Insurance Code of 1956, Chapter 79 - Property and Casualty Guaranty Association (MCL 500.7901 to 500.7949, 17 sections) is a state statute published by Michigan Legislature (www.legislature.mi.gov). It is one of the Michigan documents that insurance license exam questions are written from, including michigan property & casualty, michigan personal lines practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• MCL 500.7931(3) (Recoverable damages or benefits as credit against covered claim)

  “(3) If damages or benefits are recoverable by a claimant other than from any disability policy or life insurance policy owned or paid for by the claimant or by a claimant or insured under an insurance policy other than a policy of the insolvent insurer, or under a self-insured program of a...”

• MCL 500.7925(2)(a) (Covered claims defined; unearned premium refund exclusion)

  “(2) Covered claims shall not include any of the following: (a) Obligations to refund unearned premiums above the first $500.00 of unearned premiums from each person from any 1 insolvent insurer. The maximum amount of unearned premiums which shall constitute a covered claim shall be adjusted...”

• MCL 500.7925(2)(b) (Covered claims; exclusions)

  “(b) Obligations incurred after the expiration date of the insurance policy, after the insurance policy has been replaced by the insured, or after the insurance policy has been canceled by the association as provided in this chapter.”

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