Florida no fault car insurance repeal moves ahead in state Senate

florida no fault car insurance

Senator Tom Lee (R-Brandon) introduced the bill in the hopes of controlling skyrocketing premiums. The no fault car insurance bill meant to repeal the current system in Florida has cleared an important Senate committee. Should it become law, it would mean that drivers will need to purchase bodily injury coverage. The primary hurdle so far has been the argument that lawsuits and premiums would rise further. Many of the objections have come directly from insurance representatives. Should the no fault car insurance be repealed, it would mean that drivers in…

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Bill Cosby turns to insurance coverage to pay the bill for defamation suits

bill cosby lawsuit insurance coverage

The costs associated with defending himself in court are piling up and a home policy will likely pay for much of it. When defending oneself in court in several sexual assault and defamation cases, the legal bill can rapidly rise and Bill Cosby is using his homeowners insurance coverage to help him to pay for these expenses. This method of footing the bill for legal fees has come to quite a surprise to many though it is not necessarily uncommon. That said, Cosby has been facing lawsuits across three states…

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Insurance fraud continues in Jamaica amid insurer fear

insurance agency overbilling fraud

A senior police has said that insurers are too afraid to provide the information required to stop the scams. The lack of cooperation from insurers is now being blamed for the inability of police to be able to crack down on the personal injury insurance fraud that has exploded in Jamaica over the last few years. The senior official said that insurers have not been giving investigators data that would be required to pursue scammers. Senior Superintendant Radcliffe Lewis, the head of the police Traffic Division, explained that insurers have…

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Do You Know What Personal Injury Insurance Covers?

Personal injury insurance or personal injury protection (PIP) is an extension of the typical car insurance. It will provide coverage for treatment and medical expenses that are connected to injuries sustained during an automobile accident. Understanding what personal injury insurance covers will help you decide whether it is the right coverage for you and for your family. Basics of Personal Injury Insurance: Although most common in cases connected to automobile accidents, this type of coverage may also be provided for personal injuries and emotional distress resulting from defamation or libel.…

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Florida passes new PIP reform bill that will is expected to reduce auto insurance fraud in the state

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 lawmakers attempting to compromise over reforms to PIP

The Florida legislature is facing a debate over to strikingly different proposals that have been made to reform the no-fault auto insurance system in the state – also known as personal injury protection (PIP) – but the top lawmakers are hoping that it will be possible to reach a compromise. One of the primary issues of this legislative session – the extensive auto insurance fraud experienced in the state – was temporarily derailed by massage therapists who had been lobbying the topic. On Tuesday, the Senate Budget Committee held off…

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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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Auto insurance rates to jump higher in New Jersey, according to state regulators

The National Association of Insurance Commissioners has announced that New Jersey drivers may see their rates jump higher for the first time in years. The Association notes that the increase is due to the ramping costs of the state’s personal injury protection (PIP) policies. The Association has released a report which shows that the last time auto insurance rates rose was in 2009, when PIP rates rose to $1,218. No news on how much the new rates will be has yet been released. Many states have laws that require drivers…

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Biggest maritime insurance losses in history will likely result from Costa Concordia cruise liner

According to industry experts and analysts, the ruined Costa Concordia cruise liner may become the largest maritime insurance loss in history. Early predictions are indicating that the mutual societies and insurers may find themselves losing $1 billion on the disaster in which the multistory liner which had been carrying more than 4,000 people (both crew and passengers) ran aground off the west coast of Italy, capsizing and injuring dozens of people while killing at least five. There will be two primary issues to be faced in this catastrophe which involves…

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