10/1 /2012  is when rates are to be lowered by 10% and next year by an additional 24%. If the carrier will not lower PIP rates then they must show actuarily why to the State OIR. Most Insurer’s do not feel that the new Bill did enough to justify rate decreases yet, so time will tell, but before years end, we may see some rate reductions and hope for the best. The real problem is still Fraud which was not really dealt with  in Tallahassee this session and we can only wait and see what happens. The bills in the Florida  House and Senate were so far apart, they found a way to agree by the deadline to avoid a special session, but a lot was not included that was really needed from the House version to make real controls to be in place to prevent Fraud and that would lower rates. We will see, but please call L & S Insurance for all of your Home, Auto, Flood, Business & Commercial and even Life Insurance quotes. Please read the full article below;