I am glad as a producer to hear of this PIP reform, that couldn’t come soon enough. I was ready to drive to Tallahassee and lobby for it myself. I agree that PIP benefits are important as an immediate cushion, but the way PIP is regulated up until this point in florida, it’s so easy to manipulate, and that’s what has caused this huge fraud epidemic, both internal and external. You get the consumers complaining against high rates because of those “bad drivers”, and at the same time, companies cracking down, and reducing exposure, and many agents suffer high loss ratios, loss of producer contracts, and in essence LOSE BUSINESS.
I am glad as a producer to hear of this PIP reform, that couldn’t come soon enough. I was ready to drive to Tallahassee and lobby for it myself. I agree that PIP benefits are important as an immediate cushion, but the way PIP is regulated up until this point in florida, it’s so easy to manipulate, and that’s what has caused this huge fraud epidemic, both internal and external. You get the consumers complaining against high rates because of those “bad drivers”, and at the same time, companies cracking down, and reducing exposure, and many agents suffer high loss ratios, loss of producer contracts, and in essence LOSE BUSINESS.