state_legiscan_drain · MI
Insurance: insurers; single-risk limit for title insurance; eliminate. Amends sec. 640 of 1956 PA 218 (MCL 500.640).
June 16, 2026
Summary
If enacted, this bill would amend MCL 500.640 to eliminate the single-risk limit on title insurance policies in Michigan, removing the statutory cap on the amount of risk a title insurer can assume for a single policy. This directly affects title insurers and may reduce the need for reinsurance on high-value properties, potentially impacting premium structures for lenders and borrowers.
AI-generated summary · Jun 21, 2026. Verify with your compliance counsel before acting.
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Source: https://legislature.mi.gov/Bills/Bill?ObjectName=2026-HB-6097
Common questions
- What does "Insurance: insurers; single-risk limit for title insurance; eliminate. Amends sec. 640 of 1956 PA 218 (MCL 500.640)." cover?
- If enacted, this bill would amend MCL 500.640 to eliminate the single-risk limit on title insurance policies in Michigan, removing the statutory cap on…
- When was it published?
- It was published on June 16, 2026.