Florida's DeSantis Vetoes Repeal Of 'No-Fault' Auto Insurance
Senior Policy Advisor Beth Vecchioli was interviewed by Law360 about Florida Gov. Ron DeSantis's veto of Senate Bill 54, a bill aimed at changing the state's auto insurance policies. This bill would result in an overall increase in annual premiums for insurers, stripping away certain anti-fraud provisions and requiring at least $25,000 in bodily injury liability insurance compared to the current $10,000 needed. Ms. Vecchioli, who focuses on insurance regulation, said implementing a new system is a burden for those who face having to obtain new regulatory approvals, among other tasks. She added that many of her clients are also concerned about a "safe harbor" provision whose intention is to protect insurers from bad faith lawsuits but may actually lead to an increase in litigation.
"What's in this bill presently is a whole new set of standards for insurance companies to comply with, which in our opinion will just create more avenues for a lawyer to be able to challenge an insurer in court," she said.