If you were born and raised in Michigan, you probably still refer to Michigan’s insurance regulatory body as the Michigan Insurance Bureau. But, to a newcomer, or someone just wanting to check up on the ethics of an insurance agent located in that State, will know that the proper name for this governmental body is known as the Department of Licensing and Regulatory Affairs or (LARA).
For the sake of tradition however, let us call it the Michigan Insurance Bureau and discuss some of its function. This is the office that regulates the many licensed companies and independent insurance agents throughout the State of Michigan. This office is responsible for the enforcement of its code of conduct amongst its licensees and also accepts and investigates consumer complaints filed against an individual agent or company.
It is also the office or website in which you would go if you wanted to obtain forms and/or information through the National Association of Insurance Commissioners (NAIC). Some of the information you can obtain there is how to file a complaint, where to report suspected insurance fraud and also, information on how to download key financial statement data of a particular insurance entity.
So with that being said, the next time you have a question about the behavior of your insurance agent or agency, or know that your neighbor committed insurance fraud, and you have tried, but cannot get the issue resolved locally. By Googling the Michigan Insurance Bureau, one click on that name will take you immediately to where you need to be in Michigan to get all of your questions answered.