OFIR Commissioner Ken Ross has concluded this review is necessary in order to protect the welfare of Michigan citizens.

All personal lines of insurance – including, but not limited to, life, health and annuities.

No.  Group rates do not need to be filed.

No.  The exemption contained in MCL 500.2236(8)(e), which applies to policies sold to exempt commercial policyholders, is unaffected by the Commissioner’s Order. 

All new filings must be submitted to OFIR through SERFF as of August 1, 2010.

No.  Existing policy forms currently in use do not need to be submitted to OFIR at this time.   OFIR will be requesting these forms at a later date

Any forms previously exempt from filing and are currently being marketed/sold in Michigan can continue to be used.

Yes.  Amended filings are considered new filings, which will be required to be submitted to OFIR as of August 1st.

OFIR is allowed 30 days from the date of submission to review all policy forms.  The only exception to the 30-day timeframe is advertising, which OFIR is allowed 45 days.  If the filing is not reviewed within these statutory timeframes, the filing will be deemed approved.