Florida’s battle against fraud in the no fault auto insurance sector has felt like a losing battle over the last while, as one change to the regulations simply leads to a new form of fraud. There have been anti-fraud provisions made by the legislature in 2002, 2003, and 2007 following a grand jury fraud and abuse report in 2000. Unfortunately, none of these attempts to stop the fraud have made a dent in the cost of personal injury protection. According to the Coalition for Auto-Insurance Reform president, Peter Kinzler, there…
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UPCIC writes its first Georgia homeowners insurance policies
Universal Insurance Holdings, Inc., has announced that its Universal Property and Casualty Insurance Company (UPCIC) subsidiary has now written its first Georgia homeowners’ insurance policies for an official start within that state. Chief operating officer of the vertically integrated insurance holding company, Sean Downes, said that the entrance of UPCIC into the homeowners’ marketplace in Georgia “marks the fifth state where UPCIC conducts business and continues our expansion beyond Florida.” He added that the insurer is anticipates a strong expansion of its network of agents within that state, as well…
Read MoreFEMA to update flood maps for Florida by 2012 hurricane season
FEMA has begun updated its flood maps for the state of Florida and the new maps will be put into effect before the 2012 hurricane season. The maps determine what properties are at risk of flooding in the event of a natural disaster or severe storm. Insurers rely on these maps and the risk they place on certain regions to price insurance coverage. Typically, areas that are classified as high risk are required to have some form of flood insurance protection. Collier County will have the most drastic change next…
Read MoreFlorida prepares for the battle against PIP fraud
Residents in Florida have joined with business associations and law enforcement agencies to create the Gear Up Florida Coalition, with the goal of protecting insurance consumers in the state from the skyrocketing costs that are resulting from the increasing instance of fraud to its no-fault law. According to Tammy Perdue, the Florida General Counsel for Associated Industries, they want to bring fraud from car accidents to an end and change the organized systems that are encouraging these criminal behaviors. She explained that it will be critical for legislative action to…
Read MoreFlorida coalition of businesses and residents looks to stop auto insurance fraud
With auto insurance fraud becoming a major concern in Florida, a number of law enforcement agencies, business associations and state resident groups have come together to form the Gear Up Florida coalition. The coalition aims to combat fraud in the state and help protect consumers from the havoc it can cause on their finances. Insurance prices in Florida have been rising due to staged car accidents in recent years. The coalition believes that the primary cause of this lies in the state’s no-fault auto insurance laws. Though insurers often get…
Read MoreFlorida’s Governor Scott announces effort to beat auto insurance fraud
Governor Rick Scott from Florida spoke to citizens and other politicians about the problem of auto insurance fraud within the state, and announced that he would be looking to Hillsborough County in order to come up with ideas for overcoming it. Scott stated that they “have to get rid of fraud”. Many law enforcement officers and county officials sat with Scott as they discussed this goal. Jeff Atwater, the Chief Financial Officer in Florida, declared with Scott that they will be using Hillsborough as inspiration for their efforts to completely…
Read MoreFlorida Governor calls for residents to share insight on Citizens Insurance Group
Florida Governor Rick Scott is looking for input from consumers on what to do with the state-run insurance company Citizens Property Insurance Corp. The company has come upon difficult financial times in recent years, much of which has been at the hands of fraud and natural disasters. The company was recently approved to raise rates on sinkhole coverage for homes as a way to offset the losses seen in years past. The new rates have spurred public outcry, which has led regulators to stagger the rate increase over the course…
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