To enable drivers to choose a more affordable form of auto insurance that also provides for more adequate and timely compensation for accident victims, and for other purposes.
Deems persons who fail to select a type of insurance to have elected insurance under the tort maintenance system.
Authorizes the appropriate State official to establish a consumer notification program regarding: (1) the comparative cost of insurance under the personal injury protection and tort maintenance systems; and (2) the benefits, rights, and obligations of the insurers and insureds under such systems. Requires insurers to provide such information to a consumer before the consumer chooses insurance.
Prescribes minimum requirements for the personal injury protection system and the tort maintenance system.
Exempts a State from application of this Act if the State: (1) declares by statute by a specified date that this Act shall not apply; or (2) finds that average premiums will not be reduced by an average of at least 30 percent for persons choosing the personal injury protection system.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.
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