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LANSING, Mich., Sept. 8, 2011 /PRNewswire/ -- The Michigan Chamber of Commerce today released a study showing significant reforms are needed to protect Michigan's valued no-fault automobile insurance system from collapse and keep premiums competitive with other states. The Chamber-sponsored study determined that no-fault reforms are needed to prevent a cost crisis that could destroy Michigan's no- fault system. The study identified four primary recommendations for reform: 1) place upper limits on no-fault benefits; 2) allow consumers to choose the level of benefits they receive; 3) enact cost controls for medical and long-term care through a fee schedule similar to that used for systems such as worker's compensation; and 4) introduce a coordinated response to claims fraud.
BOSTON, March 29 /U.S. Newswire/ -- No-fault auto insurance is consistently more expensive than traditional insurance and should be repealed in Massachusetts and across the country, according to a national study of auto insurance premiums released today by the nonprofit, nonpartisan Foundation for Taxpayer and Consumer Rights (FTCR). The study found that the cost of insurance fell for drivers in states that have repealed no-fault laws. It also details the importance of a strong insurance regulation system in the effort to lower insurance rates.
... funds from health benefit plans or from insurance policies for which premiums are paid privately by ...(3) No-fault insurance. In States with no-fault automobile insurance requirements, a...
... allows the military to be reimbursed by insurance carriers for medical expenses it incurs in treatin...
Florida, California, New York, Texas and Maryland Lead States DES PLAINES, Ill., April 26, 2011 /PRNewswire-USNewswire/ -- The National Insurance Crime Bureau (NICB) today released a new analytical report that examines national vehicle collision questionable claims (QCs) from 2009 and 2010. The report compares those QCs to bodily injury/personal injury protection (BI/PIP) insurance claims submitted during the same period--January 1, 2009 through December 31, 2010.
To ameliorate the situation, Congress combined money requisitioned from general government revenues with charitable donations to create the VCF, a fund to compensate all of the victims of the terrorist attacks.15 Participation in the Fund was optional; Congress left victims the option to sue in tort if they were dissatisfied with the Fund payment.16 The unprecedented horror of the events of September 1 lth and the associated national insult were undoubtedly the impetus for Congress to enact such a revolutionary system, but the reason for the bill's creation should not limit its prospective application, if it is found to be a good model for the future.17 The central thesis of this Comment is that using the Victim Compensation Fund as a model for injury compensation in this country would ...
....139 The administrative costs savings for nofault plans are so significant that they can sometimes e...
As you drive to work or run errands today, look around at the nearest five cars. It is likely that at least one of those drivers is an uninsured motorist -- and you are paying for it. When motorists drive without insurance, and cause accidents, they're driving on your policy. You pay the deductible. Your insurance company pays the damages. And all of us pay higher insurance premiums for these freeloaders. Last year, Colorado's broken no-fault auto insurance system was replaced with a tort system used by 37 other states. The result: In just six months, the average auto insurance premium in Colorado dropped 14 percent-27 percent, depending on the coverage chosen. This means auto insurance is more affordable and there is no excuse to break the law and not buy the required minimum coverage.
WASHINGTON - As U.S. employers brace for higher state unemployment insurance taxes next year, business groups are urging Congress to delay interest penalties on $42 billion states have borrowed to continue paying jobless benefits during the recession. Thirty states and the Virgin Islands have exhausted their unemployment insurance trust fund reserves and are using U.S. Treasury funds to maintain benefit checks for millions of workers who lost jobs through no fault of their own.
...PART 582: INSURANCE COST INFORMATION REGULATION. 582.3 - Definitions.... personal injury protection in no-fault states. (4) Medical payment insurance means insurance tha...
...Currently, in North America, most states and provinces have something in between: auto insu... and disadvantages of both tort and nofault regimes and attempted to measure the differences b...
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