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No-fault Auto Insurance
How do you calculate actual results from something that hasn’t actually happened? Well, you can’t. But that didn’t stop Florida legislators from demanding that it be done. Auto insurance companies had to submit rate filings data to regulators to demonstrate cost savings from auto insurance reforms that don’t start for three more months. Hey, this is Florida – and calendars trump calculators.
An important reminder about the reforms to Florida’s no-fault auto insurance law: The most significant changes do not go into effect until January 2013. So if you’re looking for big rate relief now, it can’t happen because very little has changed in the three months since the law first became effective.