Yesterday afternoon, the House Select Committee on Reducing Car Insurance Rates met to hear testimony from the agent perspective on no-fault. The Chairman of the Select Committee, Speaker Pro-Tempore Jason Wentworth, invited MAIA to present before the committee. Your association continues to have a seat at the table as these important public policy decisions are discussed.
MAIA Legislative Committee member David Walker and MAIA CEO Bev Barney testified on behalf of the association. Mr. Walker highlighted a couple of important issues from MAIA’s viewpoint in the ongoing no-fault discussions.
Mr. Walker mentioned that MAIA supports cost containment measures within the no-fault system to reduce the cost of auto insurance. He noted that if a consumer were given a choice of PIP benefits, the lower levels of coverages would be quickly spent without cost containments. MAIA supports a fee schedule tied to Workers’ Compensation reimbursement levels and attendant care reforms, which are important components in bringing down the cost of insurance.
PIP Choice continues to surface as an inevitable component of no-fault auto reform. Mr. Walker highlighted the importance of a consumer protection form, created by the Department of Insurance and Financial Services (DIFS), which would require an insured’s signature and detail the level of PIP personal injury protection coverage chosen by an insured.
The full committee hearing can be viewed
here.
