Live Insurance News

Auto insurance reforms to PIP have yet to lower premiums

October 3, 2012April 30, 2013

Florida drivers are still waiting for the promised savings to kick in. Over one hundred auto insurance companies were required to report their intentions to reduce their rates on Monday, as a result of the massive changes to the personal injury protection (PIP) plan in Florida. However, as many predicted, these insurers didn’t show any clear intention to reduce prices. A new law in the state required that these auto insurance providers send a rate filing to the Office of Insurance Regulation at the start of October, which would…

Auto insurance in Florida continues to be a problem

October 1, 2012 S.Vagus

Lawmakers benefits of new auto insurance laws to be seen soon Auto insurance in Florida has been in flux for some time. State lawmakers have been laboring to make changes to Florida’s auto insurance regulations in the hopes of curbing the prevalence of fraud. Legislators have made significant changes to the state’s personal injury protection (PIP) regulations, which have been hailed both as a remedy for fraud and a financial problem for consumers and businesses. Whatever the case may be, auto insurers are tasked with figuring out ways to lower…

New auto insurance laws in Florida subject to optimistic outlook

August 8, 2012April 30, 2013

Regulators warn that a preliminary report concerning insurance savings could be inaccurate Florida’s new auto insurance laws have taken root, especially in the personal injury protection (PIP) sector, and some state officials suggest that they are leading to lower insurance premiums. The state’s insurance regulators are warning that the preliminary reports coming from some insurance companies and state officials could be nothing more than wishful thinking. The implications that the new auto insurance laws may already be leading to savings comes from a report that was recently released by the…

Auto insurance changes in Florida may not lower premiums

August 6, 2012August 6, 2012 Julie Campbell

Alterations to PIP may not bring relief to drivers’ wallets. The Florida no fault auto insurance program has just experienced a number of alterations in the hopes that the residents of the state would face lower premiums resulting from the crackdown on fraud. Fraudulent claims have been rampant in the state, driving rates ever upward. Governor Rick Scott and the lawmakers in the Republican party have promised that no-fault insurance premiums will slide as a result of these efforts. However, a company that was hired to perform an evaluation on…

Auto insurance reform in Florida comes under fire

August 2, 2012August 1, 2012 Marc

Consumers argue that provisions are too harsh for the innocent Earlier this month, a number of auto insurance reform measures took effect in Florida. State legislators had been working to enact auto insurance reforms to combat the significant problem of fraud the state had been facing for years. The auto insurance reform law that was passed earlier in the year has made drastic changes to the auto insurance industry and has imposed significant limitations on the claims benefits consumers can receive. The law has been in effect for a whole…