Bill > SB0566

This bill amends the Worker's Disability Compensation Act of 1969 to modify filing requirements and redemption processes for worker's compensation insurance. For insurers, the bill requires filing notices about insurance policies within 30 days, allowing submissions in writing or through electronic means, and permits notices to be filed by either the insurer or the Compensation Advisory Organization of Michigan. The bill directs the agency director to establish filing fees and collection systems through administrative rules. Regarding redemption agreements, the bill updates procedures for converting ongoing compensation payments to a lump sum settlement, requiring carriers to notify employers about proposed redemption agreements at least 10 business days before a hearing. The bill also establishes a fee system for redemption agreements, with fees to be determined by the agency and placed in a worker's compensation administrative revolving fund. The fund can only be used for specific purposes like education, training, case management, and hearing costs. These changes aim to streamline administrative processes and provide more clarity in worker's compensation insurance transactions and settlements.

Budget and Finance

https://legislature.mi.gov/Bills/Bill?ObjectName=2025-SB-0566