{"id":1018,"date":"2024-04-17T18:45:31","date_gmt":"2024-04-17T22:45:31","guid":{"rendered":"https:\/\/senatedems.com\/cavanagh\/?p=1018"},"modified":"2024-04-18T08:58:58","modified_gmt":"2024-04-18T12:58:58","slug":"insurance-and-financial-services-passes-initial-budgets","status":"publish","type":"post","link":"https:\/\/dev.senatedems.com\/cavanagh\/2024\/04\/17\/insurance-and-financial-services-passes-initial-budgets\/","title":{"rendered":"Chair Cavanagh,\u00a0Senate Appropriations Subcommittee on the Department of Licensing and Regulatory Affairs\/Department of Insurance and Financial Services\u00a0Passes Initial Budgets"},"content":{"rendered":"\n[et_pb_section fb_built=”1″ theme_builder_area=”post_content” _builder_version=”4.24.3″ _module_preset=”default”][et_pb_row _builder_version=”4.24.3″ _module_preset=”default” theme_builder_area=”post_content”][et_pb_column _builder_version=”4.24.3″ _module_preset=”default” type=”4_4″ theme_builder_area=”post_content”][et_pb_text _builder_version=”4.24.3″ _module_preset=”default” theme_builder_area=”post_content” hover_enabled=”0″ sticky_enabled=”0″]
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Sen. Cavanagh continues to advocate for improvement and support to Michigan\u2019s auto insurance system, greater equity in state\u2019s regulatory efforts<\/i>\u00a0<\/span><\/p>\n<\/div>\n

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LANSING, Mich. (April 17, 2024) \u2014 Sen. Mary Cavanagh<\/b> (D-Redford Twp.) and the Senate Appropriations Subcommittee on LARA\/DIFS\u00a0successfully passed their initial budget proposals today. Leading the subcommittee, Chair Cavanagh<\/b> worked closely with her Senate colleagues to develop budget proposals aimed at improving government accessibility and protection for Michigan consumers.<\/span><\/p>\n

Senate Bill 765<\/a>, the appropriations bill for the Department of Insurance and Financial Services (DIFS), underscores Sen. Cavanagh\u2019<\/b>s focus on improving and bringing transparency to Michigan’s insurance system. The proposed DIFS budget allocates funds to enhance insurance customer service and improve the management of customer complaints throughout the state. In particular, it urges DIFS to open new satellite offices throughout Michigan to offer in-person support to consumers, as well as holding Michigan auto rate increases to the same transparency standards as health. The budget also would commission a third-party study on the effects of the state\u2019s auto no-fault reforms passed in 2019.<\/p>\n

\u201cMichiganders have felt the pain and suffered the consequences of an insurance system that has continually failed them. From steep premiums to insufficient support after an unexpected life event, our state\u2019s residents bear the brunt of these shortcomings,\u201d said Sen. Cavanagh<\/b>. \u201cWhile Senate Democrats made significant progress by passing changes to the auto no-fault system to better support people severely injured in an accident and their families, we still have much work ahead of us to provide Michiganders with the insurance and transparency they deserve. Our policy and budget efforts must work in concert to improve our state, and the budget proposal passed by this subcommittee represents tangible steps toward ensuring every Michigan consumer is treated fairly and with respect.\u201d<\/p>\n

Other notable highlights from the proposed DIFS budget include:<\/p>\n<\/div>\n