Insurance: unfair trade practices; unfair trade practices in the insurance industry; revise. Amends sec. 2025 of 1956 PA 218 (MCL 500.2025).

HB 4071 clarifies what insurance practices are not considered "unfair trade practices" under Michigan law. It specifically permits insurers to offer free or discounted value-added services (like loss mitigation tools, risk education, or financial wellness programs) to customers, provided these services relate to insurance coverage, reduce claim costs, and are reasonably priced compared to premiums. The bill directly affects life and property/casualty insurers and their policyholders, customers, or potential applicants. Key provisions require services to be relevant to insurance, cost-effective, and include clear customer support contact information. This amendment does not create new insurance requirements but clarifies permissible marketing practices.