For policies issued or renewed in the current MCCA year, above what per-claim PIP medical loss amount does the Michigan Catastrophic Claims Association reimburse the member insurer?

Why this is the answer

MCL 500.3104 creates the MCCA and sets an indexed retention. Members pay PIP loss up to the retention; MCCA reimburses ultimate loss above $635,000 for claims arising in the applicable year. The threshold is adjusted periodically by MCCA's plan of operation.