News Release: Associated Press News
TALLAHASSEE, Fla. (AP) -- Florida's top insurance regulator says a contentious fix to auto insurance laws is driving down premiums.
Insurance Commissioner Kevin McCarty said Wednesday that a preliminary analysis shows a 25 percent decrease in no-fault Personal Injury Protection rates since legislators changed the law in 2012. The analysis looked at the top 20 companies.
Florida legislators passed the state's no-fault insurance law in the early 1970s to ensure that anyone hurt in an automobile wreck could obtain medical treatment without delay.
The law provides that a driver's insurance company pay up to $10,000. All Florida drivers are required to carry PIP insurance. But over the years authorities contend the state became a leading state for staged accidents.
The 2012 law put limits on coverage, but it has been challenged in court.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or email@example.com.