Just days after the arrest of 36 defendants in New York City for a scheme that bilked auto insurers out of $275 million, the fight against personal injury protection (PIP) fraud receives yet another boost.
On March 2, the Florida House of Representatives passed HB 119, a bill intended to quell the growing incidence of staged accidents and medical fraud that deplete insurers' profits and consumer wallets.
According to the Florida Office of Insurance Regulation (OIR), direct written premiums now total $2.9 billion, which represents a $500 million uptick in 2011. Lynne McChristian, the Florida representative for the Insurance Information Institute (I.I.I), says this connotes a “business model” that is benefiting PIP fraudsters, not auto insurers.
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