Thursday, October 6, 2011

Lawmakers Consider Changes To No-Fault Auto Insurance ? CBS ...

LANSING (WWJ) - Michigan?s no-fault auto insurance law is the subject of hearings opening in the state capitol Tuesday.

The rising cost of health care is leading members of Michigan?s insurance industry to push for changes in the state?s no-fault auto insurance law that offers unlimited lifetime injury and rehabilitation benefits, according to Pete Kuhnmuench, executive director of the Insurance Institute of Michigan.

?We?ve recognized some real problems in our no-fault system, long term, that we?d like to address and that?s the escalating cost that come with that unlimited lifetime medical benefit,? Kuhnmuench said.

But, supporters of the law, like John Truscott, say changing it will leave many people out in the cold.

?We limit the amount of lawsuits. We limit the amount of harm and damage to the drivers and we provide probably one of the best rehab-type service facilities in full coverage for traumatic injuries of anywhere in the country,? Truscott said. ?For paying a few dollars more a year, you?re getting the best coverage and the best protection of any state in the country.?

Under the two bill package before the House insurance committee, unlimited coverage would be replaced with a choice of coverage ranging from $250,000 to $5 million per person, per occurrence.?It would also include a medical fee schedule as part of the effort to control medical costs.

Source: http://detroit.cbslocal.com/2011/10/04/state-lawmakers-consider-changes-to-no-fault-auto-insurance/

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