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Category: Blog

Michigan Money Judgment Interest Rate Moves to 1.739% on July 1, 2021

The Michigan Department of Treasury announced a money judgment interest rate for the second half of 2021, effective July 1, 2021, of 1.739%.  MCL 600.6013 & 600.6455.  The next money judgment interest rate will be announced Jan. 1, 2022.

Caps On Noneconomic Damages For 2021

The Michigan Department of Treasury has announced that the new caps on noneconomic damages in products liability cases where the product did not cause either death or permanent loss of a vital bodily function for 2021 is $476,000. The indexed cap in cases involving death or permanent loss of a vital […]

Major Changes to the Michigan No-Fault Act Coming in 2020

The Michigan Legislature made major revisions to the Michigan No-Fault Act of 1973 by amendments with immediate effect June 11, 2019. Among the more significant changes are the 12 listed below:  For policies effective July 1, 2020, or later, a consumer must be provided a choice of policy limits of […]