Michigan Catastrophic Claims Association

Kimberly Bezy was appointed Executive Director in November 2024, succeeding R. Kevin Clinton. The MCCA's board of directors, appointed by the Director of the Michigan Department of Insurance and Financial Services, provides oversight of the association's operations and asset management. Day-to-day portfolio decisions are executed by internal staff and external managers selected through investment consultant guidance.

The MCCA is funded entirely by mandatory assessments levied on every insurance company that writes automobile or motorcycle coverage in Michigan. These assessments are ultimately passed through to Michigan policyholders as a per-vehicle fee. The MCCA's sole purpose is to reinsure personal injury protection claims that exceed a statutory threshold, covering unlimited lifetime medical benefits for catastrophic accident victims under Michigan's pre-2019 no-fault law.

The MCCA manages a diversified portfolio spanning common stocks, fixed-income securities, bank loans, private credit, and direct commercial real estate. Its investment approach targets long-duration returns to match liabilities that can extend over a claimant's entire lifetime. The association does not operate a traditional venture capital or private equity program but holds private credit and real estate assets directly.

Yes. Before the 2019 reforms, Michigan required all drivers to purchase unlimited lifetime medical coverage. The reforms allowed policyholders to opt for lower coverage limits. This means the MCCA's incoming premium base will decline over time, but the association must continue to fund legacy claims incurred before the reform — some of which will require payments for decades. This creates a runoff dynamic that shapes its asset-liability management.

A five-member board of directors governs the MCCA, with members appointed by the Director of the Michigan Department of Insurance and Financial Services, who serves ex officio. Board members are drawn from member insurance companies. All insurers selling auto or motorcycle coverage in Michigan must belong to the MCCA, and the largest carriers — including Allstate, State Farm, and Progressive — participate on its standing committees.