Sec. 707. (1) The maximum interest rate for claim reserves related to health insurance benefits other than disability income is that rate specified in section 733. (2) The claim reserve shall be based upon the insurer's experience if such experience is considered credible or upon other assumptions designed to place a sound value on the liabilities.
Mich. Comp. Laws § 500.707
Health insurance benefits other than disability income; claim reserves maximum interest rate; basis of claim reserve
Add. 1994, Act 148, Imd
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.