Now that the Florida Legislature has voted to extend the state’s automobile no-fault insurance law, the American Insurance Association has recommended to Governor Jeb Bush that he should use his “veto pen” on the law and allow it to sunset as scheduled in 2007, according to Cecil Pearce, AIA Southeast Region vice president.
“During the next few weeks, AIA will urge the governor in the strongest possible terms to veto the auto no-fault insurance law extension and allow the law to sunset as scheduled in 2007,” Pearce said.
The association maintained that if no significant reforms was made in the law during the spring session of the Florida Legislature, the law should be allowed to sunset.
“AIA believed that the key reforms necessary to fix the system and cut costs, such as attorney fee reform and implementation of a medical fee schedule, were not achievable this session; that view turned out to be correct,” Pearce said.
Legislators instead passed a measure extending the law for two years, but Gov. Jeb Bush has stated that he will consider vetoing any measure that does not include reforms.
Source: American Insurance Assoc.
Was this article valuable?
Here are more articles you may enjoy.
California Sees Two More Property Insurers Withdraw From Market 
Harvard Study Again Stirs the Pot on Demotech Ratings of Florida Carriers 
Wildfires Are Upending Some of the Safest Bets on Wall Street 
Progressive Records Five-Fold Increase in Q1 Net Income 
