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…
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University of Miami summit highlights the increasing cost of auto insurance
A summit held at the University of Miami on the topic of insurance fraud provided those in attendance with the opportunity to exchange stories, request assistance, and talk about litigation that is directed at this rising issue. One of the favorite examples, which was shared by Mary Lathrop, a Florida Highway Patrol Captain, involved a fender bender in the south end of the state. One of the drivers noticed that there was one fewer people in the car when the accident occurred than there were when the police arrived on…
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…
Read MoreFlorida takes aim at insurance fraud and staged accidents
State leaders, such as those in Florida, are working with insurers to make a move to form legislation that will combat auto insurance fraud so that it will be ready for the January start of the next session of lawmaking. Proposed bills in 2011 to fight fraudulent claims on personal injury protection insurance did not receive their approval from the state Legislature this year due to worries over the struggles it may create for policyholders that are making legitimate claims, as well as their doctors and attorneys. That said, two…
Read MoreNew insurance regulations for New Jersey drivers
New Jersey is considering a massive change to the regulations for the personal injury element of auto insurance, with the intention of keeping rate increases under control. The primary changes have to do with the ways in which a doctor will be permitted to bill for the treatments provided, and will recreate the way in which a claim that has been denied can be appealed. While New Jersey has maintained its status among the more costly states in which to buy car insurance, its residents are paying lower premiums following…
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