New laws designed to reduce loss cost volatility and claims fraud in the Florida no-fault auto insurance system, commonly referred to as PIP, would be a credit positive for property/casualty insurers, according to Fitch Ratings. The ratings agency said Florida …
An insurance board says the annual fee that Michigan drivers pay for some personal injury costs will increase 6 percent to $186 per year starting July 1. The Michigan Catastrophic Claims Association announced the fee. The current cost is $175 …
New Jersey’s Superior Court has denied a medical group’s request for a stay of the new motor vehicle personal injury protection (PIP) regulations last evening. The court’s decision means the state’s insurance department can now go ahead and implement the …
With 2013 just around the corner, a number of states are preparing to implement new insurance-related laws. Insurance Journal highlights some of the changes that will take place around the country.
Florida officials have approved an emergency rule that will allow auto insurers providing no-fault coverage to use a form informing accident victims of their benefits under the state’s revised personal injury protection law. The Florida Cabinet approved the emergency rule …
New Jersey regulators recently reminded personal auto insurers and producers that they must offer a $250,000 coverage limit as the default option for personal injury protection (“PIP”) benefits — unless the applicant or the policyholder affirmatively selects lower limits in …
Gov. Rick Scott got the legislation he wanted to reform Florida’s mandatory motor vehicle no-fault law and crack down on the abuses in personal injury protection cases that have led to skyrocketing increases for coverage. Whether the new measure will …
Florida Gov. Rick Scott has blasted a Senate bill to reform the state’s personal injury protection (PIP) auto insurance system claiming the bill does not provide adequate reform and could make the system even more costly. Scott was joined in …
New Jersey’s Department of Banking and Insurance has amended some 25 percent of its personal injury protection (PIP) rule proposals, after reviewing and incorporating recommendations from a mountain of public comment letters it has received. The department said last week …
A bill that would force all accident victims to go to emergency rooms instead of their family doctor, even for minor injuries, cleared a Florida House subcommittee on Wednesday. The bill (HB 119) was approved 10-5 by the Florida House …
