As consumers, state lawmakers, regulators, and executive officers enter the final month before the possible end of the state's automobile no-fault personal insurance protection law, more attention is being placed on just what the world may look like come the day after the law's expiration. To that end, Chief Financial Officer Alex Sink has created a new web portal for consumers and agents to learn about how the auto insurance market would work, post-PIP. The link can be accessed at www.MyFloridaCFO.com.
“The best advice we can give to consumers is to purchase enough auto insurance coverage to provide proper medical treatment for themselves and their families,” Sink said. “In the event someone is at fault in an accident after the expiration of no-fault, sufficient auto insurance coverage can help protect that family's financial assets.”
In addition to outlining a number of scenarios on how auto claims would be handled in the post-no-fault era, Sink also poised a number of policy questions on the potential impact the change in the insurance law. They are as follows:
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