Subrogation professionals must be aware that Florida’s collateral source statute contains a trap for the unwary. Under F.S.A. § 768.76 (6), if a provider of collateral source benefits (e.g., Med Pay or health insurance benefits) does not respond to the insured’s request for a statement asserting the subrogated lien amount within thirty (30) days, the…
Let’s just say it. Florida PIP subrogation is a pain in the butt. The state was almost out of the weeds in 2007 when its no-fault laws automatically sunsetted; but the legislature passed a new no-fault law which took effect in 2008. PIP coverage is required for all “motor vehicles” registered and licensed in Florida…
In 2014, Florida surpassed New York becoming the third-most-populous state in the nation, and as of last year has an annual $1 trillion Gross Domestic Product (GDP) making it the 17th largest economy in the world. What happens in the Sunshine State is emulated elsewhere, and auto insurance is no exception. For that reason, all…
Good first-party claims practice requires prompt repair of damaged vehicles. Obviously, the time it takes to repair a damaged vehicle depends on the complexity of the claim, the nature and extent of the damages, and the availability of quality replacement parts. An insured will usually be contacted by their auto carrier within a couple of…
In its widest sense, “no-fault insurance” is a term used to describe any auto insurance coverage under which policyholders are paid for personal injuries and property damage they sustain in accidents through their own insurance company, regardless of fault. In many ways it is like first-party coverage. However, the term “no-fault” is most commonly used…
Attorneys Stephen Smith and Jacob Simon will be presenting a complimentary one-hour live webinar on A Riddle, Wrapped in a Mystery, Inside an Enigma: Changes to Michigan’s No-Fault Scheme on July 28, 2020 at 10:00-11:00 a.m. (Central). The Michigan Legislature passed no-fault auto insurance laws in 1973 and has been holding on to this dysfunctional…
The Michigan Legislature passed no-fault auto insurance laws in 1973 and like a T-Rex guarding its bone, has been holding on to this dysfunctional approach to auto insurance ever since. Instead of running away completely from the problem and joining states which have enjoyed lower auto insurance premiums after abandoning the failed no-fault experiment, Michigan…
Automobile rentals is a $29 billion industry and constitutes a significant portion of the transport sector in America. In 2018, there were 2,212,925 rental vehicles on U.S roads. There are six million auto accidents in the U.S. every year, and rental cars are involved in a significant portion of those accidents. To make matters worse,…
When and whether a vehicle involved in a collision is considered “totaled” for first-party insurance purposes is an issue of great angst and confusion for most consumers. We hear horror stories of older but functioning vehicles being “totaled” simply due to a bent frame or other seemingly minor or even hidden damage. Even insurance professionals…
Martins v. Vermont Mutual Ins. Co., 2019 WL 3818293 (D. Mass. 2019) A federal district court in Massachusetts has ruled that Massachusetts tort law does not provide for recovery of “inherent diminution in value” damages by a third-party claimant. The Bay State had long been one of only 15 states that do not have any…