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- Protecting Florida Consumers is PCI’s Top Legislative Priority
- TALLAHASSEE, Fla. - Closing insurance coverage gaps with transportation network companies (TNCs), lawsuit reforms and addressing contractor fraud through the assignment of benefits are three of the top priorities for the Property Casualty Insurers Association of America (PCI) as the 2015 Florida Legislative Session begins.
“PCI supports innovation and competition in the marketplace, however, drivers, passengers and pedestrians need to be aware that there are gaps in the TNCs’ insurance coverage that could potentially put the public at risk,” said Logan McFaddin, PCI’s state government relations counsel.
“House Bill 757 and Senate Bill 1298 are needed to close the TNCs’ insurance coverage gaps, which have presented major challenges for policymakers and insurers who have a vested interest in protecting the people of Florida. PCI will continue to work with key stakeholders to make sure the insurance component is addressed.”
PCI also supports House Bill 1197/Senate Bill 1088 which requires attorneys looking to file a lawsuit on a claim to contact the insurer first to give notice of loss. This would allow insurance companies to investigate the claim and settle appropriately before a third party lawsuit is filed.
“This bill would help protect the public and prevent unnecessary lawsuits from being filed by third parties looking to make money off of consumers. This bill could also potentially shield Floridians from higher insurance costs, combat fraud and prevent added lawsuits from clogging up Florida’s court system,” said McFaddin.
In addition, PCI looks to support legislation addressing contractor fraud through the assignment of benefits, which is another issue that greatly impacts Florida consumers. While this is a complicated issue, ongoing discussions are needed to arrive at a solution that protects consumers. PCI supports House Bill 669, Senate Bill 1064 and Senate Bill 1210 which would prohibit the award of attorney fees in certain suits brought by third parties to the insurance contract.
“PCI and our members believe it’s critical that following any catastrophic event, homeowners should first contact their insurance agent or claims adjuster before signing any documentation represented by a third party contractor,” said McFaddin. “PCI looks forward to working with legislators throughout the 2015 session to address these issues and arrive at a solution that protects policyholders from being taken advantage of by fraudsters.”
For information on PCI’s legislative priorities visit our website www.pciaa.net or follow us on twitter @PCIAA for important legislative updates.
- PCI promotes and protects the viability of a competitive private insurance market for the benefit of consumers and insurers. PCI is composed of nearly 1,000 member companies, representing the broadest cross section of insurers of any national trade association. PCI members write more than $195 billion in annual premium, 35 percent of the nation's property casualty insurance. Member companies write 42 percent of the U.S. automobile insurance market, 28 percent of the homeowners market, 33 percent of the commercial property and liability market and 35 percent of the private workers compensation market.
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