IIM and its executive director have praised the No Fault law for years, despite recent statements to the contrary
Did you know… Michigan auto insurance prices are “reasonable”?
Did you know… Michigan’s No Fault auto insurance system has been “recognized” as being “the most efficient and effective auto insurance law in the United States”?
Did you know… Michigan’s No Fault policyholders “are getting a bang for their buck when it comes to protecting themselves in the case of a traffic crash”?
Did you know… Michigan’s No Fault law “concept has worked well”?
I bet you didn’t. If you didn’t know about how great Michigan’s No Fault auto insurance system works, then you apparently haven’t been listening to the statements made by the Insurance Institute of Michigan (IIM), and by IIM’s Executive Director, Pete Kuhnmuench.
Despite some recent (and clearly politically motivated) statements to the contrary, both the IIM and Mr. Kuhnmuench have for years praised Michigan No Fault laws, and its ability to keep auto insurance prices “reasonable” and a great bargain for auto insurance consumers. That’s because the care and the insurance benefits that Michigan residents who are seriously injured in automobile accidents receive under our No Fault law is better than the care people receive in other states – but at very comparable prices.
Oakland County Executive L. Brooks Patterson recently made this point in a response to the “new” Mr. Kuhnmuench who, while voicing his support for House Speaker Jase Bolger’s plan for No Fault “reform,” insisted that Michigan auto insurance prices were “increasingly becoming unaffordable.” Mr. Patterson correctly and accurately noted:
“In 2012, the [Insurance Institute of Michigan] said in its fact book, ‘Auto insurance prices in Michigan are reasonable, especially considering the high level of benefits provided to consumers….’”
As for Mr. Kuhnmuench’s belief that Michigan’s No Fault system is in need of “reforming,” Mr. Patterson correctly noted:
“[T]he [Insurance Institute of Michigan] said in its 2010 fact book, ‘Michigan is generally recognized as having the most efficient and effective auto insurance laws in the United States.’”
To find out more about the No Fault “reform” dispute between Oakland County’s Patterson and the IIM’s Kuhnmuench, please check out the following: “L. Brooks Patterson, Insurance Institute of Michigan trade barbs over Jase Bolger’s auto insurance proposal,” MLive’s David Muller, March 4, 2014 I applaud Mr. Patterson for pointing out the important facts. Significantly, those are not the only two instances where Mr. Kuhnmuench and the IIM have gone on record praising both the affordability of Michigan auto insurance prices and the efficiency of Michigan’s No Fault system. In its 2013 IIM Fact Book, the Insurance Institute of Michigan recommitted itself to the position (highlighted by Mr. Patterson) it had taken in its 2010 IIM Fact Book and, again, in its 2012 IIM Fact Book:
“Auto insurance prices in Michigan are reasonable – especially considering the high level of benefits provided consumers.”
And in the Insurance Institute of Michigan’s 2013 No Fault “Overview” brochure, the IIM and Mr. Kuhnmuench said the following about Michigan’s No Fault system:
“The no-fault concept has worked well. Accident victims are promptly compensated for their losses. They receive unlimited medical benefits and substantial wage loss benefits on a ‘no-fault’ basis. Severely injured people no longer have to bear devastating financial burdens while waiting for lawsuits to be settled.” (Insurance Institute of Michigan, “No Fault: An overview of Michigan’s unique auto insurance law,” brochure, 1/13)
But that’s not all. The praise from the IIM and Mr. Kuhnmuench for Michigan’s No Fault system goes back much further. There are many more examples from my previous blog post on the topic, “Michigan’s No Fault system is incredibly valuable … just ask Peter Kuhnmuench of the Insurance Institute Of Michigan.”
