The maximum work loss benefit payable under policies of personal protection insurance in Michigan will rise very slightly for the year beginning Oct. 1, the Michigan Department of Insurance and Financial Services announced.
In Bulletin 2015-20-INS, DIFS Director Patrick M. McPharlin said the maximum work loss payment effective Oct. 1, 2015, through Sept. 30, 2016, is $5,398 per a single 30-day period.
The maximum applies pro rata to any lesser period of work loss. The new maximum also applies to survivor’s loss benefits.
The 30-day maximum effective Oct. 1, 2014, through Sept. 30, 2015, is $5,392.
Topics Profit Loss Michigan
Was this article valuable?
Here are more articles you may enjoy.
Space Startups Seek Insurance for Orbital AI Data Centers 
Virginia’s New Gun Laws Challenged by Some Local Prosecutors and Lawsuits 
Flood Insurance Gap Will Squeeze Local Governments and Homeowners, Moody’s Says 
5 Years After Surfside Collapse: Safer Condos, More Transparency for Underwriters From This Issue
