NU Online News Service, March 19, 2:13 p.m. EDT
The recent passage of legislation reforming Florida's personal injury protection auto-insurance system should help combat rising claims costs and insurance rates in the state, and is credit-positive for insurers, according to Moody's Investors Service.
In its Weekly Credit Outlook, Moody's says capping non-emergency medical-condition payouts to $2,500 as opposed to $10,000, limiting the time to seek medical treatment following an auto accident to 14 days, and excluding massage therapists and acupuncturists from the medical providers covered by PIP should reduce insurers' costs.
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