Insurance: other; penalties for violations of the insurance code; increase. Amends secs. 150 & 2038 of 1956 PA 218 (MCL 500.150 & 500.2038).

SB 543 increases civil fines for violations of Michigan's insurance code. Insurers face fines up to $100,000 per knowing violation (capped at $500,000 total), while other entities face up to $5,000 per knowing violation (capped at $50,000 total). The bill clarifies that fines apply to non-compliant filings under specific chapters but exclude individual policy actions based on those filings. It also strengthens enforcement by allowing the director to order cease-and-desist actions and suspend licenses for repeated violations.