#110 of 500 · Member & Benefit Funds

Michigan Catastrophic Claims Association U S

EIN 38-2227794 · MI · NTEE n/a · Form 990, fiscal 2023

A private, unincorporated nonprofit association created by the Michigan Legislature to reimburse auto insurers for personal injury protection (no-fault) claims exceeding a statutory threshold. Funded by per-vehicle assessments on insurers, it acts as a reinsurance mechanism providing lifetime benefits funding for individuals catastrophically injured in Michigan auto accidents, helping ensure insurers can pay large claims and stabilizing no-fault coverage costs.

Financials, fiscal 2023

Revenue

$1.30B

Expenses

-$287.8M

Total assets

$21.62B

Net assets

-$2.05B

Operating margin

122.1%

1-year growth

-25.2%

5-year growth (CAGR)

-9.6%

Reserve (years of spending)

85.4

Contributions share

n/a

Programme spending

41.5%

Fundraising cost

n/a

Executive pay share

-0.38%

Employees

50

Revenue per employee

$26.1M

Grants paid

n/a

Years filing

44

NFP Health Score: 73 / 100

Financial 65 · Governance 75 · Operational 90. The score is built from Form 990 line items only. It cannot measure how well an organisation delivers its mission.

Mission

To protect the financial integrity of Michigan's auto insurance industry by reviewing personal injury protection claims reported by members and indemnifying losses under the statutorily required personal protection insurance coverages.

Revenue history