Insurance: no-fault; penalties for lapse of insurance policy; eliminate. Amends secs. 2116b, 2118 & 2120 of 1956 PA 218 (MCL 500.2116b et seq.) & repeals sec. 2116a of 1956 PA 218 (MCL 500.2116a).
Prohibiting the assignment of benefits under certain property and casualty insurance contracts and defining such assignment of benefits as an unfair method of competition and unfair or deceptive act or practice.