On March 25th, Florida State Senator Joe Negron filed SB 7132 dealing with motor vehicle registration fees and the elimination of a long-standing tax credit provided to insurance companies. The Appropriations Committee is currently scheduled to discuss the bill on March 28th. Under the bill, revenue lost from a reduction in vehicle registration fees would … Continue reading Florida Senate Bill 7132: Peter and Paul
Autonomous (driverless) cars are coming. In the next 10-20 years, many technologists and automobile experts estimate that the quality and price of autonomous cars will allow the slow takeover of American roads. Google has been driving driverless cars around the Bay area without causing any accidents. More companies are applying for permits to test technologies … Continue reading The Robots are Coming
Trends in insurer pricing strategies and insurer acquisitions are reshaping the non-standard personal auto market. The use of broader pricing strategies designed to write a wider spectrum of personal auto risks, guided by the philosophy of “the right price for the right risk,” is one of the key driving forces. Additionally, several large carriers have … Continue reading The Future of the Stand-alone Non-Standard Auto Insurer
It’s no secret that claim costs for Personal Injury Protection (PIP) coverage in Florida are high and due in large part to insurance fraud. In an earlier blog we asked if Florida should repeal the PIP requirements for motorists. The Florida lawmakers have answered that question, and their answer is…NO. Instead, they want to fix … Continue reading Is a Fix to Florida PIP Finally on its Way?
Florida requires drivers to have $10,000 of Personal Injury Protection (PIP) to compensate persons injured in accidents regardless of fault and property damage insurance. PIP coverage provides reimbursement for 80% of reasonable medical expenses, 60% of loss of income and 100% of replacement services, for bodily injury sustained in a motor vehicle accident without regard … Continue reading Should Florida Repeal the Personal Injury Protection Requirement for Motorists?
Many people may have never heard the term “hypermiling” before. Hypermiling refers to the combined use of specific driving strategies with the goal of maximizing fuel mileage. Examples of these strategies include: Driving at slower speeds and obeying the posted speed limits Traveling at less congested times of the day and/or travel less congested routes … Continue reading A hypermiling discount on your auto insurance policy?
As gas prices continue to creep up again and some forecasters speculating about $5 a gallon gas in 2012, one may wonder what effect this will have on auto insurers. Back in 2008 when gas prices reached record highs of over $4 a gallon, there was a slight drop in frequency of claims. Fast Track … Continue reading Could higher gas prices lead to lower losses for auto insurers?
A U.S. Senate panel is set to wade into the debate next week over whether rental-car companies should be held liable in crashes caused by clients driving their cars. Sen. Jay Rockefeller (D., W.Va.), the Senate Commerce Committee chairman, has scheduled a hearing for Tuesday 9/28/10 on federal highway-safety programs. Among the issues to be … Continue reading US Senate panel to study liability issues in rental car market