Auto insurance rates would soar under just-passed bill
David A. Sampson
The Florida Legislature passed Senate Bill 54 in the final days of the session, and now Florida drivers are facing dramatically higher auto insurance costs if Gov. Ron DeSantis does not intervene.
Without swift action by the governor, auto insurance costs could skyrocket up to an additional $860 annually for many Florida drivers and lead to more uninsured motorists on Florida’s roads.
SB 54 eliminates Florida s 50-year-old no-fault auto insurance system and replaces it with a requirement that Florida drivers purchase and carry a package of mandatory liability and medical payments coverage. If you drive a car, this is a major policy change that affects you.
So-called PIP reform will force up auto insurance rates in Florida
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American Property Casualty Insurance Association: Best Way to Reduce Insurance Costs Is to Advance Consumer Safety Initiatives
Targeted News Service
The American Property Casualty Insurance Association (APCIA) issued the following statement in response to
President Biden s comments about addressing auto and homeowners insurance rates in high-cost areas during a
CNN townhall on
David A. Sampson, APCIA president and CEO. We share
President Biden s vision for reducing auto and home insurance rates in high-cost communities. The first step is working together to address the underlying factors that increase costs. What
President Biden did not say is that insurance companies do not collect or use data on race and are prohibited by law in every state from pricing insurance based on race.
Insurance Broker Aon Drops Trump Organization
Insurance broker Aon has ended its business relationship with the Trump Organization, Insurance Journal has learned.
The Trump Organization is the hotel, luxury residence and golf course business of the Trump family that is run by President Donald Trump’s sons, Eric and Donald.
Details of the insurance broker’s divorce from the Trump family business are not known but it comes at a time when various backers and businesses are distancing themselves from President Trump, who is facing impeachment proceedings by the House of Representatives related to his role in the riot at the Capitol last week. Protesters damaged the federal property and interrupted legislative proceedings on the certification of the Electoral College results making Joe Biden as the next president.
Assault on U.S. Capitol a Spark, but No Catastrophic Property Losses Yet
Commercial property insurers who are already edgy after suffering historic losses from civil unrest got another jolt Wednesday when pro-Trump protestors smashed windows to gain entry into the U.S. Capitol.
But there’s “a lot of mileage” between the Washington D.C. protest and the kind of widespread rioting that erupted after the police killing of George Floyd in Minneapolis, which caused more than $2 billion in projected damages, said Thomas R. Johansmeyer, leader of Verisk’s Property Claims Services.
Catastrophe-level property losses from rioting aren’t likely unless the protests move far beyond government buildings. Johansmeyer said a bond fire needs a gale-force wind to become a conflagration even if has plenty of fuel to burn.
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