LANSING MI (WKZO AM/FM) – A bipartisan group of state representatives is calling for an investigation into a new report that indicates Michigan residents were overcharged over one billion dollars by auto insurance companies in 2020.
The report, released by the Consumer Federation of America and the Center for Economic Justice, also showed that across the country, “auto insurers reaped windfall profits of at least $29 billion in 2020 as miles driven, vehicle crashes and auto insurance claims dropped because of the pandemic and related government actions.”
Michigan state house members are concerned over the profit level the insurance companies made, while those companies continue to refuse changes in the state’s insurance laws that would protect those who suffer catastrophic injuries.
