The New PIP Statute

The New PIP Statute and its Results on Accident Victims:

The brand new Private Harm Safety PIP Statute that was not too long ago handed in Florida could also be a triumph for insurance coverage corporations. The legislation locations new limits on the quantity of advantages an individual can obtain in addition to the sum of money awarded throughout a declare. This may increasingly lead to substantial private bills for people concerned in pedestrian and bicycle accidents, automobile accidents and motorbike accidents. The course of litigation could also be affected as effectively due to the brand new PIP provisions.

The big variety of private damage lawsuits filed previously could also be responsible for the brand new legislative modifications. Whether or not people had been concerned in truck, pedestrian and bicycle accidents, automobile accidents and motorbike accidents, the previous insurance coverage Statutes didn’t present boundaries on sure features of protection. Limits on lawyer charges and restrictions on medical remedy weren’t clearly outlined in current PIP legal guidelines. Consequently, many insurance coverage corporations raised their charges in response to the rise in PIP claims.

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