• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About
  • Advertise
  • Submit News
  • Contact Us

Capital Soup

Florida News Straight From the Source

  • Soup Du Jour
  • People
  • Government
  • Campaign
  • Business
  • Education
  • Insights
  • Video
You are here: Home / Soup Du Jour / Lawmakers must put consumers first in any repeal of PIP system

Lawmakers must put consumers first in any repeal of PIP system

Posted on January 10, 2018

The Florida Senate Banking and Insurance Committee today took an initial step toward repealing Florida’s fraud-riddled No-Fault/PIP auto insurance system with the passage of Senate Bill 150, filed by Senator Tom Lee (R-Brandon). If enacted, the existing No-Fault/PIP system would be replaced in 2019 by a new fault-based system requiring all motorists to carry bodily injury (BI) coverage of $20,000 per person/$40,000 per occurrence and mandatory medical payments coverage of $5,000. The BI limits are increased to $30,000 per person/$60,000 per occurrence after three years.
“If the Senate’s intent is to manage the cost of auto insurance for Florida drivers, high mandatory minimum levels of coverage, mandatory medical-payments and a new system without a third-party bad faith fix is not the solution,” stated Michael Carlson, president of PIFF. “If we move from No-Fault to a tort-based system, we urge lawmakers to protect consumers’ freedom of choice by allowing the market to determine the right mix of coverage limits and price.”
As the Senate considers this measure, PIFF said it urges members to carefully weigh how moving to a new system will impact consumers, and to consider key market-based principles. According to the organization — which represents 45 percent of the private passenger automobile insurance market and more than 20 percent of the private homeowners’ insurance market — any repeal of PIP must avoid unnecessary cost increases, such as high BI limits and mandatory medical payments coverage, and should address third-party bad faith litigation, which is a cost driver that could increase auto insurance premiums.
“As the debate on repealing PIP unfolds, PIFF is committed to working closely with legislators to ensure that Florida’s motorists receive the best coverage at the best prices possible, while avoiding unnecessary mandated coverages and litigation costs that drive up the price of auto insurance for everyone,” Carlson added.

Share this article! Share on FacebookShare on Twitter

Filed Under: Soup Du Jour Tagged With: Personal Insurance Federation of Florida

Primary Sidebar

    Submit News    

Florida Supreme Court to Hear Challenge to 15-Week Abortion Ban, Which Remains in Effect

TALLAHASSEE, Fla. — The Florida Supreme Court accepted a request by abortion providers today to hear arguments … [Read More...] about Florida Supreme Court to Hear Challenge to 15-Week Abortion Ban, Which Remains in Effect

Supreme Court Asks For Views Of Biden Justice Department In Florida, Texas Social Media Laws

Washington – Supreme Court Justices have asked the federal government’s chief appellate lawyer, the Solicitor … [Read More...] about Supreme Court Asks For Views Of Biden Justice Department In Florida, Texas Social Media Laws

Florida Department of Economic Opportunity Announces $67 Million in Funding Available Through the Rebuild Florida Hurricane Sally Infrastructure Repair Program

Local governments in Bay, Escambia, Okaloosa, Santa Rosa, and Walton Counties can now apply for funding The … [Read More...] about Florida Department of Economic Opportunity Announces $67 Million in Funding Available Through the Rebuild Florida Hurricane Sally Infrastructure Repair Program

Keep in Touch

  • Email
  • Facebook
  • Twitter

Newsletter signup

Stay in the loop! Subscribe to our weekly newsletter to receive a brief recap of the week's most popular stories.

Footer

News

  • Soup Du Jour
  • People
  • Government
  • Campaign
  • Business
  • Education
  • Insights
  • Video

About Us 

  • About
  • Advertise
  • Submit News
  • Contact Us

Keep in Touch

  • Email
  • Facebook
  • Twitter

Copyright © 2021
Terms & Conditions

© Copyright 2023 Capital Soup · All Rights Reserved ·