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Proposals Could Bring Lower Insurance Rates to Michigan

The Detroit Free Press reports that Gov. Jennifer Granholm and Office of Financial and Insurance Services Commissioner Linda Watters said Wednesday they sent a legislative panel a set of proposed rules to reduce base insurance rates and prohibit insurers from using credit scores to determine insurance rates. The Insurance Institute of Michigan responded that credit scoring allows insurers to provide discounts to about two-thirds of policyholders.

More about Michigan's proposal to reduce insurance rates in the Freep

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