Efforts to combat auto insurance fraud in Florida took a positive step forward with the personal injury protection reform bill which recently passed through the state legislature and is now awaiting Gov. Rick Scott’s signature. Auto fraud has been a nagging problem for Florida consumers and insurance companies, as staged accident and unscrupulous doctors and [...]
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personal injury protection
Michigan’s PIP reinsurer raising rates 21%
The Michigan Catastrophic Claims Association will raise premiums to $175 per insured vehicle effective July 1, in part to offset an estimated $2 billion deficit.
Recent efforts to combat the growing problem of auto insurance fraud in the Florida legislature have centered on reforming how insurance companies in the state handles personal injury protection (PIP) auto insurance claims. The state’s current regulations, which require a driver’s insurance company pay up to $10,000 to cover much of medical bills and lost [...]
Reforming the state’s insurance regulations on personal injury protection coverage has been a long and often politically charged process for New Jersey insurance regulators. Their most recent proposal, updated from the original reform proposal presented by the Department of Banking and Insurance last August, contained amendments amounting to 25 percent of the previous version. Many [...]
Personal injury protection coverage has become a growing burden for many states, with rising medical costs leading to higher auto insurance rates and in some instances, fraud. While PIP coverage is not bad in and of itself, reforms to control costs are necessary to keep PIP costs from spiraling out of control. Recent proposals from [...]
Gov. Scott’s Jan. 10 State of the State kicked off a legislative session that might include action on some long-awaited insurance reforms.
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