Insurance: other; captive insurance company reports and inquiries; modify. Amends secs. 4621 & 4625 of 1956 PA 218 (MCL 500.4621 & 500.4625).

HB 6106 updates Michigan's insurance code to clarify reporting and inquiry procedures for captive insurance companies. The bill requires these companies to submit annual financial reports, actuarial opinions, and audited statements to the state director within specific timeframes, with strict penalties for non-compliance. It also establishes a tiered annual renewal fee structure based on premium volume and allows the director to request additional interim reports or respond to inquiries regarding the insurer's activities. Additionally, the legislation grants the director authority to exempt certain special-purpose captives from specific rules and clarifies that this chapter takes precedence over conflicting sections of the broader insurance code.