FL S1266

Increases motor vehicle liability insurance minimum limits effective January 1, 2016: bodily injury from $10,000 to $25,000 per person and $20,000 to $50,000 per crash; property damage remains $10,000.

Repeals Florida's Motor Vehicle No-Fault Law (Personal Injury Protection coverage) effective January 1, 2016, replacing it with a traditional tort-based liability system requiring bodily injury and property damage coverage.

Increases deposit requirements for self-insuring vehicles from $30,000 to $60,000 and increases net worth requirements for self-insurers.

Requires insurers to notify policyholders by September 1, 2015 about the repeal of PIP coverage and new minimum security requirements, with transitional provisions allowing existing policies to remain valid until renewal.

Makes conforming changes across Florida statutes to remove references to Personal Injury Protection and align with the shift to bodily injury liability coverage as the primary motor vehicle insurance requirement.