Michigan

Insurance

In 2001 there were 4.7 million ordinary life insurance policies in force with a total value of $300.2 billion; total value for all categories of life insurance (ordinary, group, industrial, and credit) was $556.1 billion. Death benefits paid that year totaled $1.84 billion. As of 2000, there were 70 property and casualty and 19 life and health insurance companies incorporated or organized in the state. In 2001, property and casualty insurers wrote premiums totaling $13.2 billion. That year, there were 24,527 flood insurance policies in force in the state, with a total value of $2.7 million.