Governor Rick Scott spoke in his state of the state address about the importance of reforms to Florida’s no fault auto insurance system, aimed to significantly reduce the fraud abuse which is currently rampant within it. According to Scott, the cost of fraud to the people in the state is an estimated $900 million. In his address, he said that “If we do not act, the Office of Insurance Regulation predicts that costs for consumers will continue to spiral out of control.” He also claimed that the premiums that are…
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Insurance reform takes a backseat in Florida Legislature, Insurance Council continues to press forward with changes
As insurance reform loses momentum amongst legislators, the Florida Insurance Council says that it will continue pushing for major changes to the state’s regulations and the Citizens Property Insurance group. Reform has fallen to the wayside in the current session of the state’s Legislature, which will begin next week. While lawmakers focus more on budget and redistricting, the much needed insurance changes are not to be considered until the next legislative session, which will happen much later in the year. The Insurance Council is pushing for changes to the state’s…
Read MoreFlorida legislators feeling pressure to solve the fraud plaguing the state’s insurance industry
Florida Governor Rick Scott is pressuring lawmakers to make changes to some of the state’s auto and property insurance laws. The Governor claims that these laws are each costing consumers millions of dollars. Legislators have been trying to find a resolution for the issue for over a decade but have so far been unable to make any headway. Governor Scott is now pushing for a solution to be found quickly to prevent further financial stresses falling upon consumers. State law requires Floridian drivers to purchase personal injury protection. The issue…
Read MoreFlorida faces further reform to its personal injury protection insurance reform
Florida’s battle against fraud in the no fault auto insurance sector has felt like a losing battle over the last while, as one change to the regulations simply leads to a new form of fraud. There have been anti-fraud provisions made by the legislature in 2002, 2003, and 2007 following a grand jury fraud and abuse report in 2000. Unfortunately, none of these attempts to stop the fraud have made a dent in the cost of personal injury protection. According to the Coalition for Auto-Insurance Reform president, Peter Kinzler, there…
Read MoreFlorida prepares for the battle against PIP fraud
Residents in Florida have joined with business associations and law enforcement agencies to create the Gear Up Florida Coalition, with the goal of protecting insurance consumers in the state from the skyrocketing costs that are resulting from the increasing instance of fraud to its no-fault law. According to Tammy Perdue, the Florida General Counsel for Associated Industries, they want to bring fraud from car accidents to an end and change the organized systems that are encouraging these criminal behaviors. She explained that it will be critical for legislative action to…
Read MoreFlorida’s Governor Scott announces effort to beat auto insurance fraud
Governor Rick Scott from Florida spoke to citizens and other politicians about the problem of auto insurance fraud within the state, and announced that he would be looking to Hillsborough County in order to come up with ideas for overcoming it. Scott stated that they “have to get rid of fraud”. Many law enforcement officers and county officials sat with Scott as they discussed this goal. Jeff Atwater, the Chief Financial Officer in Florida, declared with Scott that they will be using Hillsborough as inspiration for their efforts to completely…
Read MoreInsurance group proposes new legislations as alternatives to Florida’s no-fault auto insurance regulations
The Property Casualty Insurers Association of America (PCI) has released a new report concerning the state of Florida’s personal injury protection (PIP) regulations. Florida lawmakers recently passed a new set of rules that govern the PIP insurance system, which established no-fault auto insurance laws in the state. The insurance group claims that the law also institutes a so called “fraud tax” which may drive up insurance prices in the state and put consumers at risk of being victimized by dubious business practices. PCI has proposed a number of legislations that…
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