Live Insurance News

Auto insurance bill by Senator to scrap Florida no-fault system

October 14, 2013October 12, 2013 G. Turner

The legislation is being prepared in order to change the situation in the state which is riddled with fraud. A new bill is being drafted by David Simmons (R-Altamonte Springs), the Senate Banking and Insurance Chairman in Florida, in order to help to repeal the no-fault auto insurance system in the state, which is swimming in fraud and that is costing residents a fortune to cover their vehicles. A landmark effort for this purpose from 2012 remains tied up in the courts, allowing fraud to continue. Simmons explained that he…

Auto insurance reform details unveiled for Michigan

May 24, 2013May 25, 2013 G. Turner

The new plans for a no fault system have now been unveiled in the hopes of driving rates down. Drivers in Michigan have just received news regarding the reform package for the auto insurance system in the state, which is meant to lower the skyrocketing premiums that they are paying. At the same time, data was revealed regarding a $14 billion catastrophic accident claims fund. The bills for these auto insurance reforms are still drafts, but if they move ahead, they will change the structure of the Michigan Catastrophic Claims…

Auto insurance system changes in Michigan arise in Legislature

April 26, 2013May 1, 2013 Marc

The overhaul is meant to be a massive one that will help to combat systemic issues. The official introduction of the proposed changes to the no fault auto insurance system in Michigan was finally made to the legislature this week, to help to repair a number of issues that are keeping costs extremely high for consumers. The state has the second most expensive premiums for driver coverage in the entire country. Rep. Pete Lund (R-Shelby Township), made the introduction of the bill (HB 4612), in order to place a cap…

Auto insurance reforms introduced for Michigan’s no fault system

March 12, 2013April 30, 2013

The Senate is now considering the current unlimited personal injury protection at $50,000. New legislation has just been introduced into the Michigan Senate, which would change the current unlimited personal injury protection (PIP) protection from the state’s no fault system and cap it at $50,000. Michigan is currently the only state where vehicle related injuries are covered for a lifetime of medical care. The current no fault auto insurance system in the state would provide someone who was injured in a vehicle accident with an unlimited personal injury coverage for…

Auto insurance fraud is the latest NJ Assembly target

January 17, 2013January 17, 2013 H. Cutner

A new bill has been sponsored by Assemblyperson Wayne P. DeAngelo (D) to implement a crackdown. A new bill A2204 is before the Assembly, having been sponsored by Assemblyperson Wayne P. DeAngelo (D-Mercer/Middlesex) with the purpose of targeting the residents of the state who are purchasing their auto insurance in other states through fraudulent means, despite the fact that they reside primarily within New Jersey or the insured vehicle is primarily kept there. This is considered to be a form of fraud that is becoming quite costly within the state.…