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July 21, 2017

Historic and Future Retentions

Pursuant to Public Act 3 of 2001 (“Public Act 3”), beginning July 1, 2002, the insurance companies retention in a given loss occurrence will depend upon the date the motor vehicle accident policy covering the loss was “issued” or “renewed”.

Public Act 3 of 2001 provided for a gradual increase in the member company retention level from the original amount of $250,000 to $500,000 on July 1, 2011; and thereafter increasing every two years by 6% or the increase in the consumer price index, whichever is less.

“Retention” is the dollar amount the insurance company must bear before the MCCA begins to make reimbursement.

For a motor vehicle accident policy
issued or renewed during the period:
Retention
July 1, 2017 through June 30, 2019 $555,000
July 1, 2015 through June 30, 2017 $545,000
July 1, 2013 through June 30, 2015 $530,000
July 1, 2011 through June 30, 2013 $500,000
July 1, 2010 through June 30, 2011 $480,000
July 1, 2009 through June 30, 2010 $460,000
July 1, 2008 through June 30, 2009 $440,000
July 1, 2007 through June 30, 2008 $420,000
July 1, 2006 through June 30, 2007 $400,000
July 1, 2005 through June 30, 2006 $375,000
July 1, 2004 through June 30, 2005 $350,000
July 1, 2003 through June 30, 2004 $325,000
July 1, 2002 through June 30, 2003 $300,000
July 1, 1978 through June 30, 2002 $250,000