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On January 17, 2013, Governor Rick Snyder ordered that the Office of Financial and Insurance Regulation (OFIR) be transfer out of the Michigan Department of Licensing and Regulatory Affairs to form a new principal department, the Michigan Department of Insurance and Financial Services, effective March 19, 2013. [3]
On February 4, 2019, Governor Gretchen Whitmer ordered that the Michigan Agency for Energy be transferred out of the department and into the Department of Environment, Great Lakes, and Energy as the Office of Climate and Energy. [10] In 2021 the Child Care Licensing Bureau was created within the Department of Licensing and Regulatory Affairs.
The third possible license is the exempt securities license. In many, but not all, cases, licensing requires the support of a dealer or insurer. It is also mandatory for advisers to carry errors and omissions insurance. The term financial adviser can refer to the entire spectrum of advisers.
Minimum insurance requirements: Drivers must carry at least a minimum of 50/100/10 liability insurance, Personal Injury Protection (PIP) and Property Protection Insurance (PPI). The state’s ...
Instead, you can use your Michigan PIP insurance to file a direct first-party claim with your own insurance company for coverage of medical bills and associated costs after you, a passenger in ...
Michigan has responded by reforming legal insurance requirements and more closely regulating auto insurance. As a result, the state saw a 6 percent drop in the number of uninsured motorists ...
Investment Company Products/Variable Life Contracts Representative Examination, more commonly known as the Series 6 Exam, for U.S. licensing to sell a limited set of securities such as mutual funds and variable life insurance; Multistate Bar Examination (MBE), part of the bar examination in almost all United States jurisdictions
The cost of the exam is $40. Individuals are allowed 90 minutes to complete 50 multiple choice questions. The passing score is 70%, and those who fail this exam must wait thirty days before taking it again. In order to be registered with the Series 6, an individual must also pass the Securities Industry Essentials Exam (The SIE Exam).