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Florida Insurance Defense Law Blog

Tips for preventing insurance fraud claims against your business

According to the FBI website, insurance fraud (non-health insurance) is estimated to cost $40 billion a year. American consumers pay between $400 and $700 a year in increased premiums due to fraudulent claims.

As a business owner, you've worked hard to maintain a profitable and successful business. Each year employees and customers make claims for Workers' Compensation, slip and fall accidents, product liability and more. Many people are being sincere and truthful.

No fault insurance fraud leads law makers to consider options

Lawmakers are considering replacing Florida’s no fault auto insurance law. Currently, Florida is one a dozen states with no fault insurance laws. These laws are designed to keep insurance premiums low, but Florida has the fifth highest premium rates in the nation.

As a replacement, lawmakers are considering a mandatory bodily injury (BI) coverage system. Whereas Personal Injury Protection (PIP) protects the driver, BI protects the other person injured, placing the fault on the negligent party.

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