Tag: Governor Rick Scott

Florida homeowners in danger of losing their flood insurance coverage

S.Vagus
Flood Insurance and reinsurance

Florida law could exclude the state from NFIP coverage, according to FEMA. Florida lawmakers are working to expedite the availability of new building permits, but this may have put homeowners at risk of losing the flood insurance coverage they receive from the National Flood Insurance Program (NFIP).  Flood insurance has become a very problematic issue throughout the country, but has been especially problematic in Florida recently. The troubles of flood insurance are linked to NFIP, a federal program which provides the majority of the country’s flood insurance coverage. The program…

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Florida PIP reform a point of contention amongst lawmakers, special session may be necessary

S.Vagus

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…

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Florida lawmakers pass new bill designed to combat auto insurance fraud in the state

S.Vagus

The Florida House of Representatives has passed a new bill that aims to dismantle auto insurance fraud in the state. The bill, House Bill 119, passed with a vote of 85-30, receiving a great deal of support from both political parties. The bill will now contend with a similar legislation heading to the state’s Senate, Senate Bill 1860. Both bills have similar goals, but seek to accomplish them in differing ways. Governor Rick Scott, who has made insurance fraud a top priority this legislative session, says that the ultimate goal…

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Florida legislators back new bill that will reform the state’s no-fault auto insurance laws

S.Vagus

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…

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Florida legislators come face to face with staged accidents

Florida continues to lead the U.S. in auto insurance fraud, a fact that state lawmakers have been working to change. Staged auto accidents are presenting the state, and its insurance industry, with significant problems. Those abusing the state’s Personal Injury Protection (PIP) system, which provides drivers with no-fault auto insurance policies, cause insurers to raise rates on coverage in an effort to recovery from losses. Thus far, Florida legislators have been divided on how to solve the problem. That is until they were shown how easy it was for drivers…

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Florida pushes ahead with reforms to personal injury protection insurance laws

The Florida Legislature is moving ahead with plans to reform the state’s mandatory personal injury protection (PIP) insurance rules. Florida lawmakers and insurance companies have been battling a rampant outbreak of fraud throughout the state. Insurers claim that the fraud stems from the state’s regulations which require all drivers to have PIP coverage. The coverage is comprised of no-fault policies, which require insurers to pay claims whether a policyholder is at fault in an accident or not. This week, the Civil Justice Subcommittee approved HB 119, the bill that will…

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Governor Rick Scott addresses insurance fraud issue in Florida

Julie Campbell

Governor Rick Scott spoke in his state of the state address about the importance of reforms to Florida’s no fault auto insurance system, aimed to significantly reduce the fraud abuse which is currently rampant within it. According to Scott, the cost of fraud to the people in the state is an estimated $900 million. In his address, he said that “If we do not act, the Office of Insurance Regulation predicts that costs for consumers will continue to spiral out of control.” He also claimed that the premiums that are…

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