Issue Position: The Michigan Catastrophic Claims Association (MCCA)

Issue Position

Those who oppose auto no-fault reforms have worked hard to make Michigan drivers believe the MCCA is hiding money and is not "transparent". To help address the transparency within the MCCA, I would encourage you to visit the MCCA's website and read their 2017 Annual report which you can find here. On page 2, you can see the MCCA has a total of $19.2 billion in assets and you can also see a list of every single investment the fund owns, when the investment was purchased, when the investment will mature, how much they purchased the investment for, and how much the investment is predicted to mature for. You will also find information such as how much the Board of Directors make ($0), information on how they calculate their rate of return for investment purposes, and how they calculate their annual assessment. In also includes salary information for the employees within the MCCA, their retirement benefits, and various claims information.

In addition to their annual statements, independent auditors (Plante Moran) conduct an audit of the fund which you can read here; and the Michigan Department of Insurance and Financial Services also conducts an audit of the fund, which you can find here.

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