In the matter of:
Effective Date Contained in Rule Set 2004-022 LG

Issued and entered this 29th day of September 2004
By Linda A. Watters, Commissioner

The Office of Financial and Insurance Services (OFIS) has received a number of requests from companies seeking assurance in regard to the effective date of the proposed OFIS rules that would reduce base rates and ban insurance credit scoring.

In addition to these recent communications, several other companies at the public hearings indicated that a January 1, 2005, effective date would be burdensome or impossible to meet. This has become all the more true as preparing a full and complete Agency Report responding to all comments made has taken OFIS staff additional time in light of the receipt of comments from more than 1,000 persons.

This bulletin is being issued to provide that assurance. In the Agency Report to the Joint Committee on Administrative Rules, OFIS is going to amend the proposed rules in light of suggestions made at the public hearings, and this will include a change in the effective date. While OFIS has not reached a final decision as to the date that will be proposed, it will be no earlier than April 1, 2005.

Within two weeks of the date of this bulletin, OFIS plans to file with the Office of Regulatory Reform amended proposed rules and our Agency Report responding to all public comment received during the comment period.

Any questions regarding this bulletin should be directed to:

Office of Financial and Insurance Services
Policy Division
611 West Ottawa Street
P.O. Box 30220
Lansing, Michigan 48909-7720

Phone: (517) 373-1866
Toll Free: (877) 999-6442

_________________________________________
Linda A. Watters
Commissioner of Financial and Insurance Services