TAILIEUCHUNG - Michigan Department of Licensing and Regulatory Affairs Office of Financial and Insurance Regulation
The IDB’s measures of the impact of the funds and the outstanding is- sues and conclusions from the IDB study are summarized here. Despite the large amount of resources that the IDB and the World Bank have been lending to the funds, their scope is small. Only one fund in the region, Nicaragua, spends as much as 1 percent of the gross domes- tic product (GDP) in its fund; only three countries—Chile, Panama, and Uruguay—spend more than US$15 per year per poor person. And the poor countries on average spend less than US$10 a year. In other words, the impact of these funds is necessarily small, because their. | a consumer s guide to No-Fault Automobile Insurance in Michigan Michigan Department of Licensing and Regulatory Affairs Office of Financial and Insurance Regulation Dear Motorist We ve published this guide to help you understand your no-fault insurance policy. This guide will help explain the mandatory coverages required under no-fault as well as optional coverages like collision and comprehensive coverage. The guide explains different factors that affect the cost of your insurance and offers suggestions for lowering your insurance rates. I encourage you to read this guide to gain a better understanding of your no-fault auto insurance policy. We encourage you to explore the Office of Financial and Insurance Regulation website at ofir. There you ll find a wealth of information about insurance and financial products. You can also contact OFIR toll free at 877-999-6442 to receive publications or get answers to questions about the industries we regulate. Very truly yours R. Kevin Clinton Commissioner LICENSING AND REGULATORY AFFAIRS CUSTOMER DRIVEN. BUSINESS MINDED. LARA is an equal opportunity employer program. Auxiliary aids services and other reasonable accommodations are available upon request to individuals with disabilities. Office of Financial and Insurance Regulation FIS-PUB 0077 9 12 - Copies printed 10 000 - Authorization to print PA 145 of 1979 - Recycled paper. No-Fault Automobile Insurance in Michigan The Michigan no-fault system was adopted in 1978 to increase the level of benefits paid to injured persons make sure such payments are made promptly and reduce the proportion of premium dollars paid out for legal and administrative costs. A Michigan no-fault policy provides unlimited medical and rehabilitation benefits. It provides wage loss benefits for up to three years and 20 per day for replacement services if you are injured in an auto accident regardless of fault. In exchange for these benefits Michigan motorists gave up the right to .
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