Insurance: other; credit card processing fees; allow insurance producers to collect. Amends sec. 1915 of 1956 PA 218 (MCL 500.1915) & adds sec. 1202a.

This bill allows insurance producers in Michigan to collect credit card processing fees from their clients. It amends existing insurance regulations to include this provision, helping insurance agents cover costs associated with credit card transactions. Essentially, if a client pays their insurance premium with a credit card, the producer can charge a fee for that service.

Supporters of the bill argue that it provides a fair way for insurance producers to manage the costs of credit card transactions, which can be significant. They believe this will help ensure that agents can continue to offer flexible payment options without absorbing the costs themselves, ultimately benefiting consumers by maintaining service quality.

Critics contend that allowing insurance producers to charge credit card processing fees could lead to higher costs for consumers. They argue that this could create financial barriers for some clients, making it more difficult for them to access necessary insurance coverage and potentially leading to inequities in the insurance market.