Florida Legislature may be looking to change how the state’s insurance industry works as fraud continues to grow unabated

According to experts, Florida’s auto insurance industry is currently facing the possibility of changes or the outright elimination to the no-fault system, which may provide drivers who are well-insured with an appealing decrease in premiums, but may also increase the price of basic policies. In Florida, drivers must have at least $10,000 in coverage for personal injury. However, Governor Rick Scott has stated that he would prefer to make this an optional protection. Personal injury protection (PIP) system critics are saying that scam artists are provided with incentive to stage…

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Minnesota no fault insurance system may crack under pressure

Minnesota’s no-fault auto insurance law has been under fire recently. Opponents of the law have been trying for some time to repeal the legislation, with their latest attempt again being overruled today. However, the state’s Senate committee approved a number of amendments to the law that may curb legislators drive to repeal it. The committee will also be examining alternatives to the law that will favor insurance companies by limiting payouts. The number of underinsured and uninsured drivers in the state is rising, according to Deputy Senate Majority Leader Geoff…

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Michigan: New fees being charged on car insurance

Michigan drivers will be facing assessment fees to be instituted by the Michigan Catastrophic Claims Association (MCCA) beginning this summer. These fees are meant to help insurance companies cover the cost of disastrous injuries resulting from auto accidents. The MCCA claims that the fee is necessary to offset the huge financial loss facing insurers who provide coverage for victims of accidents whose care exceeds $500,000. There has been some scrutiny in the past over the MCCA’s actions, much of which has been focused on the organizations lack of accountability and…

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