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For the auto insurance industry, the potential repeal of Florida’s Personal Injury Protection (PIP), or no-fault, system has become an annual debate. The 2018 legislative session will be no different as both legislative chambers are set to take up the issue. The Florida House of Representatives has advanced a version of PIP repeal that does […]
Questions regarding the permissible fees that a Florida agent may charge are among the most common we see. Likewise, the Florida Department of Financial Services frequently receives questions from agents about the fees they may charge. DFS recently published the following summary of fees that may be lawfully charged by a general lines agent: MVR […]
The Florida Department of Financial Services from time to time takes enforcement actions against agents who charge unauthorized fees to policyholders. In these situations, the agents typically are receiving their commissions from the insurers and separately are telling consumers they also must pay add-on charges by various names– documents fees, notary fees, etc. In a […]
The Florida Office of Insurance Regulation has issued a request for proposals from firms interested in performing an analysis of alternatives to Florida’s Personal Injury Protection (PIP) laws. The OIR intends to engage a firm this month, with a goal of presenting a final report to executive and legislative branch officials by September 2. The […]
Florida Legislature, Department of Financial Services, Insurance Regulation News, Personal Injury Protection, automobile insurance
As 2015 comes to a close, several aspects of this year’s insurance market stand out. Each year presents its share of successes and its share of challenges, which is expected in a cyclical industry. However, on balance we will remember 2015 for its continued stability in several key insurance markets. In Florida, our view of […]
Florida Legislature, auto insurance, Insurance Regulation News, Personal Injury Protection, OIR, Insurance Regulation
A recently filed South Florida lawsuit seeks to have Florida’s 2012 Personal Injury Protection (PIP) reforms declared unconstitutional. The reforms were an effort to stem rising PIP rates and included a $2500 cap on non-emergency services while also removing certain types of services from PIP altogether. This is not the first lawsuit to challenge the […]
The Florida Supreme Court has announced that it will not hear an appeal relating to the 2012 revisions to Florida’s Personal Injury Protection law. This means the reforms remain in effect. The reforms have been taken into account in insurers’ rate filings, so the Supreme Court’s decision keeps the legal reforms in line with the […]
The Office of Insurance Regulation announced that rates for personal injury protection (PIP) coverage are projected to drop by an average of 13.2 percent. This analysis is based upon on a review of the rates of 20 insurers that comprise a majority of Florida market. It is important to note that PIP coverage makes up only a […]
