Auto Insurance


A.M. Best Market Share Report
Florida Private Passenger Auto,  Calendar Year 2006


Insurer                                    Premium                Market Share

1.   State Farm Group            $2.7 billion            21.5 percent
2.   Allstate Group                  $1.8 billion           14.34 percent
3.   Berkshire Hathaway        $1.6 billion           12.7 percent
4.   Progressive Group           $1.4 billion           11.2 percent
5.   USAA Group                    $561 million            4.4 percent
6.   Nationwide Group            $506 million            4.0 percent
7.   American Intl. Gp.             $367 million            2.9 percent   
8.   Hartford Gp.                     $323 million            2.6 percent
9.   United Auto. Gp                $267 million            2.1 percent   
10.  Liberty Mutual                  $259 million            2.05 percent
11.  Direct General                 $247 million            1.95 percent
12.  Travelers                         $200 million            1.58 percent
13.  Mercury                           $193 million            1.53 percent
14.  Metlife Auto                     $168 million            1.33 percent
15.  Safeco                             $156 million            1.23 percent
16.  Infinity                              $149 million             1.18 percent
17.  Auto-Owners                  $131 million             1.04 percent
18.  GMAC                              $121 million             0.96 percent
19.  General Agents               $112 million             0.89 percent
20.  Southern Fm Bur             $110 million              0.87 percent

 

This is the complete report, Florida's Motor Vehicle No-Fault Law, issued in November 2005 by the Senate Banking Insurance Committee.

  Senate Insurance PIP/No-Fault Report - Long Version

 

Summary of the excellent Senate Banking & Insurance Committee study on PIP/no-fault sunset released in November, 2005. The report recommends reenactment of PIP, but with major reforms including a medical fee schedule.

Florida Senate PIP/No-Fault Sunset Report - Summary  
 

September 19, 2006

From Professional Insurance Agents of Florida, Tallahassee
 

States like Florida that do not require motorcycle riders and passengers to wear helmets may be contributing to unnecessary deaths, hospitalizations, and long-term disabilities. That's the conclusion of a study comparing motorcycle injuries in states with helmet laws with those in states with little or no helmet regulation conducted by the Center for Rural Emergency Medicine at West Virginia University.

Researchers found that states without universal helmet laws reported a higher number of motorcycle crash victims hospitalized with a primary diagnosis of brain injuries: 16.5 percent versus 11.5 percent in states with mandatory use laws. The in-hospital death rate among states without mandatory helmet laws was also higher -- 11.3 percent versus 8.8 percent.

"Helmets are estimated to be 37 percent effective in preventing fatal injuries," said Dr. Jeffrey Coben, M.D., director of the center and a practicing emergency room physician. "Analyzing injuries by state, we found that patients from states that do not have universal helmet laws had a 41 percent increase in risk of a Type 1 traumatic brain injury." Type 1 brain injuries include head injures likely to result in permanent disability including paralysis, persistent vegetative state, and severe cognitive deficits.

Traffic deaths last year reached the highest level since 1990, due to an increase in motorcycle and pedestrian fatalities. Motorcycle deaths rose for an eighth straight year. A total of 30 state legislatures have rolled back mandatory helmet laws in recent years due to lobbying by motorcycle-advocacy groups.

http://www.newswise.com/articles/view/522973/
INFORMATIONAL MEMORANDUM OIR-07-12M
ISSUED - August 6, 2007


Florida Office of Insurance Regulation
Kevin M. McCarty, Commissioner

Florida Motor Vehicle No-Fault Law
(Intended for Insurance Carriers writing Motor Vehicle Insurance)

The purpose of this memorandum is to notify insurers of the requirements of law as a result of the provisions of the “Florida Motor Vehicle No-Fault Law”, Sections 627.730-627.7405, Florida Statutes, which state that the law stands repealed effective October 1, 2007. If the Legislature takes no action prior to October 1, 2007, the repeal will take effect. This memorandum describes some actions that insurers should take, in the event of a repeal, to facilitate an orderly transition to a tort system of compensation for automobile accident victims. Insurers are cautioned that this memorandum does not contain legal advice (which should be sought from the insurer’s counsel).

Some insurers have filed and obtained approval for transitional policy language. You may locate these by going to www.fldfs.com/edms and searching for the keyword “PIP Sunset”.

Companies are encouraged to inform insureds, in a clear and unambiguous manner, about the effects of the No-Fault repeal and about factors consumers should consider in deciding what coverages and limits to purchase in a tort environment. The potential for delays in compensation pending a tortfeasor’s insurer’s investigation or for unreimbursed losses for individuals who are at-fault and lacking adequate health and disability insurance should be brought to the insured’s attention. The increased exposure to lawsuits with the repeal of tort exemption should also be addressed.

The Office of Insurance Regulation stresses that communications with insureds must be accurate in all respects. For instance, insureds should be cautioned that premiums quoted and statements about compensation for automobile accident victims subsequent to October 1, 2007 are contingent on the repeal of the “Florida Motor Vehicle No-Fault Law” which may not take effect if the Florida Legislature amends the law prior to October 1, 2007.

If you have any questions regarding this Informational Memorandum, please contact Mike Milnes, Deputy Director, Property and Casualty Product Review, Florida Office of Insurance Regulation at This email address is being protected from spambots. You need JavaScript enabled to view it. or (850) 413-5306.

The remainder of the chapters in Auto Insurance are grouped in alphbetical order, except the final chapter, Selected Significant Background.

 

 

Excellent lay of the land in auto insurance and no-fault in Florida from the Senate Banking &  Insurance Committee analysis of SB 1880, 2007 regular legislative session.

PIP/No-Fault Overview, Florida Senate