Florida Governor Rick Scott is claiming a major victory on behalf of the state’s citizens this week. The state Senate has passed legislation that will reform the state’s troublesome personal injury protection (PIP) auto insurance system. The system has been wrought with fraud for several years, becoming much worse over the past two. Legislators supporting reform claim that this fraud was causing auto insurers to raise rates on coverage at alarming speed. The new legislation seeks to remedy the problem. The legislation that was passed by the Senate is House…
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Florida PIP reform a point of contention amongst lawmakers, special session may be necessary
Though Florida lawmakers have been working toward making changes to the state’s personal injury protection (PIP) insurance regulations, reform efforts have run into trouble. Legislators have been arguing over House Bill 119, which would have required accidents victims to be treated in emergency rooms rather than clinics. Since the bill gained resounding support earlier in the months, over a dozen amendments had been added one its way to the Senate. The amendments have been a source of chaos, as some legislators have expressed confusion regarding what the bill will actually…
Read MoreFlorida legislators back new bill that will reform the state’s no-fault auto insurance laws
As auto insurance fraud is thrusted into the limelight by the actions of federal and state regulators this week in New York, the eleven other states that host no-fault insurance laws are taking a hard look at what can be done to make fraud a less serious issue. Florida is currently the leader in terms of auto insurance fraud, much of which is spurred by the state’s no-fault laws. These laws require insurers to pay benefits to victims of car accidents no matter who may be at fault. Like in…
Read MoreCalifornia insurance industry follows Nevada regarding driverless cars from Google
Senator Alex Padilla (D-Pacoima), of California, has announced his new legislation regarding a Toyota Prius that has been modified by Google Inc., which is designed to occur alongside new regulations that are designed to permit the first autonomous vehicles in the world to receive their road testing and registration in Nevada. This bill was announced at a Sacramento press conference and was written with the input of Google and is a reflection of that company’s most recent attempt to demonstrate to policymakers that although these futuristic cars aren’t quite yet…
Read MoreState requires fast action to strengthen the Florida Hurricane Catastrophe Fund
The 2012 Florida Legislature is rapidly approaching the end of its session, and the lawmakers there have yet to decide on a path for the reform of the Florida Hurricane Catastrophe Fund (nicknamed the “Cat Fund”), without which, the state will be left at a high degree of risk. Without arranging the Cat Fund before the end of session, all it would take is one sizeable hurricane to rip a tremendous chunk out of the state finances, as hundreds of thousands, if not millions of legitimate claims are made, but…
Read MoreFlorida, Michigan, and California attempt to shrink auto insurance rates
Motorists in Florida, Michigan, and California are hopeful that the attempts being made by their states will be successful in lowering the rates that they pay for their auto insurance coverage. Both Florida and Michigan have no-fault-based auto insurance systems, and these two states have been vigilantly examining their programs throughout their current legislative sessions. Florida has especially been in the spotlight, as it attempts to tackle a car insurance fraud problem that is spiraling out of control. California insurance, on the other hand, is examining its own system based…
Read MoreFlorida consumers filed class-action lawsuit against Citizens Property Insurance
As Florida’s Citizens Property Insurance continues… to struggle beneath the crushing weight of debt, the state-run company’s policyholders are mobilizing for a massive lawsuit against the company. Consumers have filed a class-action lawsuit against the company this week in Tallahassee, Florida. Consumers are joined by Senator Mike Fasano, who believes that the company has been too bullish in its implementation of rate hikes. This is the same issue being brought to light by the lawsuit. Consumers claim that the company is overestimating the value of homes and thus driving up…
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