Insurance industry says PIP is 'unsustainable' ? Central Florida ...

Everyone from Gov. Rick Scott to CFO Jeff Atwater ? with an attaboy from Attorney General Pam Bondi ? says the Legislature needs to reform the state?s fraud-ridden Personal Injury Protection (PIP) coverage that pays for a motorist?s injuries and lost wages without regard to fault.

Today the Property Casualty Insurers Association of America released a report on PIP, calling the current system ?unsustainable.? A key takeaway:

?According to the Office of Insurance Regulation?s Report on Review of the 2011 Personal Injury Protection Data Call, trend comparisons revealed that while there is a decreasing trend in the number of drivers, crashes and injuries, the number of personal injury protection (PIP) claims that were opened in Florida increased by 35.7% from 2008 to 2010. And, Florida drivers currently pay the highest auto liability insurance premiums in the nation, 56% more than consumers in other states (annual premiums of $736 ? FL vs. $471 ? U.S.), according to the National Association of Insurance Commissioners.?

According to the report, four ?essential fraud-fighting fixes? are:

1. Eliminating incentives for frivolous no fault lawsuits by placing caps on attorney fees.
2. Providing greater oversight of medical clinics by allowing private on-site inspections of premises to ensure the services are real.
3. Preventing fraudulent, unnecessary medical treatment by establishing reasonable treatment limits.
4. Preventing fraudulent, unnecessary medical treatment by establishing reasonable treatment limits.

Read the full report PCI Florida Fraud Report.

Source: http://blogs.orlandosentinel.com/news_politics/2011/10/insurance-industry-says-pip-is-unsustainable.html

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