Insurance: insurers; single-risk limit for title insurance; eliminate. Amends sec. 640 of 1956 PA 218 (MCL 500.640).

2025-2026 Regular Session Introduced by Mike Harris

Eliminates the single-risk limit for title insurance, allowing insurers to issue policies without a statutory cap on exposure for a single title risk.

bill electronically reproduced 06/16/2026

#insurance:insurers

Bill Summary: HB 6097 (2025-2026) – Michigan Insurance: Title Insurance Single-Risk Limit Elimination

Purpose and intent

The bill amends section 640 of the Michigan Insurance Code (1956 PA 218, MCL 500.640) to eliminate the single-risk limit for title insurance.

In effect, it seeks to remove a statutory constraint that currently caps or restricts the amount of protection provided by a single title insurance risk.

Key provisions and changes

Amends MCL 500.640 (Sec. 640 of 1956 PA 218) to eliminate the statutory single-risk limit applicable to title insurance.

The change is framed within the broader context of title insurance regulation by insurers, modifying the scope of limits that insurers can apply to individual title insurance risks.

Note: The exact text of the amendments (e.g., the prior single-risk limit amount, transitional provisions, or related compliance language) is not provided in the summary. The primary substantive change is the removal of the single-risk limit for title insurance policies or risks.

Affected parties and impact

Insurers issuing title insurance policies: Directly affected, as the statutory cap governing single-risk exposure is lifted.

Title insurance providers and regulators: Must adjust underwriting practices, policy terms, and compliance to reflect the absence of a statutory single-risk limit.

Policyholders/consumers seeking title insurance: Potentially impacted through changes in policy availability, pricing, and underwriting criteria, since the risk exposure framework for a given title insurance risk could be expanded or treated differently by market actors.

Procedural and timeline aspects

Introduced by: Rep. Mike Harris (co-sponsor listed).

Introduction and first reading: June 16, 2026.

Referral: Committee on Insurance (June 16, 2026).

Action history note: The bill was electronically reproduced on June 17, 2026, indicating ongoing legislative processing.

As of the provided information, the bill has not yet advanced beyond the committee stage in this summary.

Additional considerations

Elimination of a single-risk limit may raise questions about how underwriters assess risk concentration, reserve requirements, and solvency considerations under the state regulatory framework.

Stakeholders may seek clarifications on whether other statutory safeguards remain in place (e.g., coverage standards, policy forms, premium filing, disclosures) and how this change interacts with consumer protections and insurer solvency requirements.

If you’d like, I can tailor this summary to focus on specific stakeholder groups (consumers, insurers, regulators) or track any amendments introduced as the bill progresses through committee and floor action.