Insurance: unfair trade practices; unfair trade practices in the insurance industry; revise. Amends sec. 2025 of 1956 PA 218 (MCL 500.2025) & repeals secs. 2024a & 2024b of 1956 PA 218 (MCL 500.2024a & 500.2024b).

This bill updates Michigan's insurance laws to clarify which actions by insurance companies do not count as unfair trade practices like discrimination or rebating. It specifically exempts life insurance bonuses, premium adjustments based on group loss experience, and free or discounted value-added services that help with risk management, health, or financial wellness. The law requires that any such services be fair, reasonable in cost, and directly related to the insurance coverage while ensuring customers receive necessary contact information. Additionally, the bill grants the state director authority to create rules that protect consumer data privacy and prevent unfair discrimination in the implementation of these changes.