It was announced early December that the Michigan Catastrophic Claims Association (MCCA) will refund $3 billion of its $5 billion projected surplus, resulting in refunds of $400 per vehicle. Every eligible insured Michigan driver as of Oct. 31, 2021, will receive refunds during the second quarter of 2022.
Under the 2019 no-fault law changes, the MCCA was to analyze the need for a refund to motorists in September of 2022. The surplus funds will be turned over by the MCCA to the insurance companies by March 9, 2022. The Insurance Carriers will be responsible for issuing checks to eligible policyholders. Insurance companies will have no longer than 60 days after receiving the funds to issue refund checks.
Aitken & Ormond Insurance will keep you updated and additional information and answers to any questions can be found at: https://www.michigan.gov/difs/0,5269,7-303-13648_60666_109325—,00.htm