PCI applauds legislation cracking down on PIP fraud passing House Banking & Insurance Subcommittee

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The Property Casualty Insurers Association of America (PCI) today released the following statement regarding legislation cracking down on personal injury protection (PIP) fraud passing the Florida House Banking & Insurance Subcommittee, its first committee of reference

“We applaud the House Banking and Insurance Subcommittee for recognizing the need to crack down on PIP fraud in Florida.  With Florida leading the nation in questionable insurance claims from 2007 to 2009, and four out of the 10 U.S. cities with the highest rate of questionable auto claims being right here in Florida – Tampa, Miami, Orlando and Hialeah, it is imperative that we transform Florida’s no fault system now before it is too late.

“Abuse of Florida’s no fault law has resulted in nearly $1 billion in fraud over the past 3 years.  This is the equivalent of a nearly $1 billion fraud tax on Florida’s insurance consumers, which is levied on them through higher premiums.  With Florida insurance consumers paying 56 percent more than consumers in other states for automobile insurance premiums, our state’s most honest consumers and businesses are paying the price and they deserve to be better protected.  Something must be done to contain the ever-increasing no fault losses and expenses that continue to hinder Florida consumers.  We are optimistic that House Bill 119 will continue to move through the Legislature.”

Peter Schorsch is the President of Extensive Enterprises and is the publisher of some of Florida’s most influential new media websites, including SaintPetersBlog.com, FloridaPolitics.com, ContextFlorida.com, and Sunburn, the morning read of what’s hot in Florida politics. SaintPetersBlog has for three years running been ranked by the Washington Post as the best state-based blog in Florida. In addition to his publishing efforts, Peter is a political consultant to several of the state’s largest governmental affairs and public relations firms. Peter lives in St. Petersburg with his wife, Michelle, and their daughter, Ella.