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…

Read More

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…

Read More

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…

Read More

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…

Read More

Florida has yet to find an auto insurance reform consensus among the many opinions

Tallahassee, Florida Republicans have been reviewing a large number of competing proposals in the effort to introduce significant reforms to the state’s auto insurance system, but there doesn’t seem to be a direct or simple solution to be found. The lawmakers are currently struggling to find ways to make changes to the current no-fault auto insurance law in the state. At the moment, drivers are legally required to carry at least $10,000 in personal injury protection (PIP) coverage. This protection is no-fault in the state, which means that insurers are…

Read More