Insurance: insurers; single-risk limit for title insurance; eliminate. Amends sec. 640 of 1956 PA 218 (MCL 500.640).
Key claim: HB6097 proposes to eliminate the single-risk limit for title insurance by amending section 640 of Michigan’s Insurance Code (1956 PA 218).
Abstract
(HB6097 · 103rd Legislature) Insurance: insurers; single-risk limit for title insurance; eliminate. Amends sec. 640 of 1956 PA 218 (MCL 500.640). Latest action (2026-06-17): Bill Electronically Reproduced 06/16/2026
Why this matters
Title insurance is a required component of most residential and commercial real estate closings in Michigan, and the single-risk limit constrains how much exposure a title insurer can assume on any one property. Eliminating that limit could enable Michigan-domiciled title insurers to underwrite larger commercial and high-value residential transactions in-state without reinsurance workarounds, affecting insurer competition and pricing for property buyers and lenders.