SPB 7152 - Motor Vehicle Liability Insurance

• Replaces Florida's No-Fault personal injury protection (PIP) system with a traditional liability-based insurance system, effective January 1, 2014, eliminating mandatory PIP coverage requirements.

• Increases minimum financial responsibility limits from $10,000/$20,000/$10,000 to $25,000/$50,000/$10,000 for bodily injury liability and maintains $10,000 for property damage liability.

• Authorizes use of electronic devices to display proof of insurance and requires the Department of Highway Safety and Motor Vehicles to adopt rules for implementation.

• Requires insurers to report bodily injury and property damage liability coverage information to the state instead of PIP coverage, and to notify policyholders of the transition away from personal injury protection.

• Repeals sections 627.730-627.7405 (the No-Fault Law) and requires all motor vehicle insurance claims arising from personal injuries to be brought together in a single action unless good cause is shown otherwise.