LARA - How to become registered as a Purchasing Group


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How to become registered as a Purchasing Group

A Purchasing Group is a group that meets all of the following requirements:

As one of its purposes, purchases liability insurance on a group basis.
Is composed of members whose businesses or activities are similar or related with respect to the liability to which members are exposed by virtue of a related, similar, or common business, trade, product, service, premises, or operation.
Purchases insurance only for its group members and only to cover their similar or related liability exposure.
Is domiciled in a state.

Before conducting business in the State of Michigan, the Purchasing Group must submit the following:

Form FIS 0359 Purchasing Group Application for Registration
Form FIS 0364 Purchasing Group Report of Operations
Form FIS 0365 Consent to Service
Form FIS 0361 Affiliate Statement
The registration fee of $25.00 plus $25.00 per insurer in the form of a money order, cashier’s check, or business check. Do not send personal checks.

Notification by letter of the purchasing group’s registration or non-qualification will be mailed after application review and status determination.