Commercial Auto Insurance In Florida | Florida Auto Insurance * Learn About "Edge Auto Insurance" Blog Today!

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Florida Auto Insurance * Learn About "Edge Auto Insurance" Blog Today!

 

A recent report was just released by the National Insurance Crime Burea that proved that Florida auto insurance claims fraud grew more than 30 percent since 2008. That is a very large increase of insurance fraud and will have to be addressed very quickly to keep rates under control.

The statistics will show over 8,000 suspicious claims last year in 2010, which is up from just over 7,000 in 2009 and close to 6,000 in 2008.

Nearly 90 percent of the fraudulent claims were based personal auto insurance and insurers’ top reasons included faked or exaggerated injuries, fake accidents and overly excessive treatments. The rest, in order from most to least, were for items like commercial auto insurance, homeowners insurance, commercial general liability insurance and Florida workers compensation.

A current Bill is being offerd to help decrease Florida auto insurance fraud and staged accidents, HB 967 and SB 1411, and is coming to the end of the legislative process. A very important property insurance package, SB 408, that aims in part to target fraudulent and inflated homeowners claims, including those for all of the damage that is caused by sinkholes, has moved through three committees. What do Floridians think about this new legistlation?

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