Tag: no fault auto insurance system

No-fault auto insurance system debate returns to Florida House

G. Turner
No-fault auto insurance system - car crash

Replacement legislation would remove personal-injury protection in favor of bodily injury coverage. Once again, Florida’s no-fault auto insurance system has made its way back to the House and faces potential demise. This, despite concerns voiced by the industry suggesting that this move by the Legislature may not reduce premiums. Critics warn that removing the current system risks increasing health insurance rates and lawsuit numbers. Earlier this week, the House Insurance & Banking Subcommittee backed HB 771. That measure would replace the current mandatory components of the no-fault auto insurance system…

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Florida no fault auto insurance repeal effort launched once again

H. Cutner
florida no fault car insurance

A new proposal is headed to the state Legislature in 2018 after having undergone lengthy discussion. Senator Tom Lee (R-Thonotosassa) filed SB 150 in the hopes of repealing the no fault auto insurance system in Florida. The current law requires drivers in the state to carry $10,000 in personal injury protection (PIP) coverage. Senator Lee seeks to replace the PIP coverage with a requirement for bodily injury and medical payment coverages. Lawmakers have tried several times to repeal the no fault auto insurance system over the last few years. They…

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Auto insurance reform details unveiled for Michigan

G. Turner
Michigan Auto Insurance

The new plans for a no fault system have now been unveiled in the hopes of driving rates down. Drivers in Michigan have just received news regarding the reform package for the auto insurance system in the state, which is meant to lower the skyrocketing premiums that they are paying. At the same time, data was revealed regarding a $14 billion catastrophic accident claims fund. The bills for these auto insurance reforms are still drafts, but if they move ahead, they will change the structure of the Michigan Catastrophic Claims…

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Auto insurance system changes in Michigan arise in Legislature

Marc
Michigan health insurance

The overhaul is meant to be a massive one that will help to combat systemic issues. The official introduction of the proposed changes to the no fault auto insurance system in Michigan was finally made to the legislature this week, to help to repair a number of issues that are keeping costs extremely high for consumers. The state has the second most expensive premiums for driver coverage in the entire country. Rep. Pete Lund (R-Shelby Township), made the introduction of the bill (HB 4612), in order to place a cap…

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Auto insurance no fault regulation in Michigan could change

michigan auto insurance

Many people in the state are pushing to have this required element of the policy removed due to cost. The Insurance Institute of Michigan, insurers, other people in the industry, and the residents of the state are now recognizing that the auto insurance in the state requires some changes in order to keep its rapidly rising costs under control. The no-fault portion of the required coverage in the state is leading the cost of car ownership skyward. Now many are starting to feel that this auto insurance system is ready…

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