On May 4, 2012, Florida Governor Rick Scott signed House Bill 119 into law. The bill, among many things, changes the way accident reports are taken, provides coverage limits, establishes a schedule of maximum charges, creates a list of diagnostic tests deemed not to be medically necessary, and controls attorneys’ fees. These changes impact both personal and commercial personal injury protection and affect insurers by:
The first personal auto rate filing in response to HB119 has already been submitted, as well as multiple personal and commercial auto form filings. Perr&Knight is actively monitoring filings to keep our clients up to speed on the competitor activity regarding the requirements resulting from HB119. Our Hot Filings Alerts provide that information on an ongoing basis.
If you are interested in obtaining assistance with these required changes, Perr&Knight is the ideal choice to make the process as simple as possible. Perr&Knight has distinguished itself as the only firm of its kind offering a complete array of actuarial consulting, competitive intelligence and regulatory compliance services. Our actuaries’ ability to leverage the knowledge and information available through our companion services distinguishes us from other actuarial firms.
With approximately 30 actuaries including nearly 20 Fellows and Associates of the Casualty Actuarial Society, Perr&Knight is among the top ten largest property & casualty actuarial consulting firms in the United States. Seven of our accredited actuaries are located in our Boca Raton, Florida office, making us the largest property & casualty actuarial consulting firm in the state of Florida. Perr&Knight’s actuaries have supported and submitted hundreds of rate filings for nearly all lines of business in Florida. We have extensive experience with obtaining approval for Florida auto filings and are already scheduled to work with other Florida auto writers to develop and submit their required changes.
The links below provide additional information about HB119 and the required changes resulting from it.
For more information about how Perr&Knight can help you, please download the following brochures: