Mich. Comp. Laws § 338.3655

Sec. 55. (1) A promoter shall insure each contestant who competes in a contest for at least $50,000.00 for medical and hospital expenses related to injuries sustained in the contest or event, payable to the contestant, and for at least $50,000.00 if the contestant dies as a result of injuries received in a contest or event, with the proceeds payable to the contestant's estate. (2) A promoter shall pay the policy premium and deductible regarding any medical or hospital expenses for a contestant's injuries.