As insurance reform loses momentum amongst legislators, the Florida Insurance Council says that it will continue pushing for major changes to the state’s regulations and the Citizens Property Insurance group. Reform has fallen to the wayside in the current session of the state’s Legislature, which will begin next week. While lawmakers focus more on budget and redistricting, the much needed insurance changes are not to be considered until the next legislative session, which will happen much later in the year. The Insurance Council is pushing for changes to the state’s…
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Florida’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 MoreInsurance group proposes new legislations as alternatives to Florida’s no-fault auto insurance regulations
The Property Casualty Insurers Association of America (PCI) has released a new report concerning the state of Florida’s personal injury protection (PIP) regulations. Florida lawmakers recently passed a new set of rules that govern the PIP insurance system, which established no-fault auto insurance laws in the state. The insurance group claims that the law also institutes a so called “fraud tax” which may drive up insurance prices in the state and put consumers at risk of being victimized by dubious business practices. PCI has proposed a number of legislations that…
Read MoreFlorida faces significant costs resulting from fraudulent no-fault claims
According to the Property Casualty Insurers Association of America (PCI), the imperfections of Florida’s no-fault car insurance system are causing abuse that is system-wide, and the number of fraudulent claims is larger than it has been at any other time. This national association issued a special report on the no-fault auto coverage in the state which showed that the resulting costs from the false claims have meant that drivers are paying over $800 billion more than they would otherwise be required. According to a senior vice president at PCI, Paul…
Read MoreFlorida to host a series of meetings of insurance and consumer representatives to solve problems with PIP system
The Florida state government will be facilitating a series of meetings to resolve an issue with the state’s personal injury protection (PIP) insurance law. Insurers, medical professionals, state officials and representatives from a number of consumer advocacy groups will be attending the meetings and working together to find some resolution to the issue. Currently, PIP insurance is required throughout Florida, which has spurred rampant fraud in the state. Through the meetings, the groups will conclude whether the PIP system should be reformed or abolished altogether. Fraud has plagues Florida’s PIP…
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