Insurance: producers; disclosure to insured as to whether a producer is an agent of the insured or agent of the insurer; require. Amends 1956 PA 218 (MCL 500.100 - 500.8302) by adding sec. 1201b.

HB 4854 requires insurance agents to clearly disclose whether they represent the insurance company (insurer) or the customer (insured) during sales or application processes. Specifically, it mandates that agents of the insurer must state this on a form approved by the Insurance Director, and agents of the insured must similarly disclose their role. The bill directly affects insurance consumers and agents by eliminating ambiguity about whose interests the agent serves. This disclosure requirement aims to prevent confusion and ensure transparency in insurance transactions under Michigan's Insurance Code.