Michigan Catastrophic Claims Association U S

Michigan Catastrophic Claims Association U S Overview

Michigan Catastrophic Claims Association U S is located in Livonia, MI. The organization was established in 1979. According to its NTEE classification (Y20) the organization is classified as: Insurance Providers, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 06/2019, Michigan Catastrophic Claims Association U S employed 49 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.

For the year ending 06/2019, Michigan Catastrophic Claims Association U S generated $2.0b in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 4.3% each year.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2019

Describe the Organization's Mission:

Part 3 - Line 1

REVIEW OF PERSONAL INJURY PROTECTION CLAIMS REPORTED BY MEMBERS AND INDEMNIFICATION OF ULTIMATE MEMBER LOSS UNDER STATUTORY REQUIRED PERSONAL PROTECTION INSURANCE COVERAGES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE MICHIGAN CATASTROPHIC CLAIMS ASSOCIATION (MCCA), A PRIVATE NON-PROFIT UNINCORPORATED ASSOCIATION, WAS CREATED BY THE STATE LEGISLATURE IN 1978 BY PUBLIC ACT 136 OF 1978, WHICH AMENDED THE NO-FAULT LAW BY ADDING SECTION 3104 EFFECTIVE JULY 1, 1978. MICHIGAN'S UNIQUE AUTO INSURANCE NO-FAULT LAW PROVIDES UNLIMITED LIFETIME COVERAGE FOR MEDICAL EXPENSES WHICH RESULT FROM AUTO ACCIDENTS. THE MCCA REIMBURSES AUTO NO-FAULT INSURANCE COMPANIES FOR EACH PERSONAL INJURY PROTECTION (PIP) MEDICAL CLAIM PAID IN EXCESS OF A SET AMOUNT. CURRENTLY THAT AMOUNT IS $555,000. THE INSURANCE COMPANY PAYS THE ENTIRE CLAIM, BUT IS REIMBURSED BY THE MCCA FOR MEDICAL COSTS OVER $555,000. ALL AUTO INSURANCE COMPANIES OPERATING IN MICHIGAN ARE ASSESSED TO COVER THE CATASTROPHIC MEDICAL CLAIMS OCCURRING IN MICHIGAN. THOSE ASSESSMENTS ARE GENERALLY PASSED ON TO AUTO INSURANCE POLICYHOLDERS. THE 2018-2019 ASSESSMENT WAS $192.00 PER VEHICLE.


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Michigan Catastrophic Claims Association U S Board, Officers & Key Employees

Name (title)Compensation
Paul Mueller
Director
$0
R Kevin Clinton
Executive Director
$350,366
Kevin Gray
Claims Manager
$120,082
Steve Harr
Director & Vice-Chair
$0
Ted Reinbold
Director
$0
Chris Cleveland
Director
$0
Vendor Name (Service)Compensation
Invesco Senior Secured Management
Investment Mgmt
$2,268,919
Mondrian Investment Partners
Investment Mgmt
$4,969,764
Barings Llc
Investment Mgmt
$2,272,190
Dodge Cox
Investment Mgmt
$2,661,975
Federated Investors Inc
Investment Mgmt
$2,413,407
View All Vendors

Financial Statements

Statement of Revenue
Total Revenue from Contributions, Gifts, Grants & Similar$0
Investment income $517,346,523
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $46,649,868
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $1,953,450,173

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