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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New York insurance regulators and federal authorities claim victory over insurance fraud syndicate
Auto insurance fraud has been a major problem in the state of New York. For years, regulators and lawmakers have been working to combat fraud throughout the state, but it has been a difficult challenge to overcome. This week, regulators have claimed a major victory as state and federal authorities dismantled a massive auto insurance fraud ring. Regulators are calling it the largest insurance fraud syndicate that focused almost exclusively on exploiting New York’s no-fault insurance laws. The crime ring is comprised of 36 people in total. Ten doctors and…
Read MoreFlorida 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…
Read MoreFlorida 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 MoreAuto 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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