Bristol West Announces Its Plans If PIP Sunsets…

The October 1, 2007 sunset of Florida’s no-fault system is quickly approaching, and the likelihood of intervention by the Florida legislature appears to be decreasing. As such, Bristol West is moving forward with plans to convert to a tort system. Our intention is to make this process as smooth as possible for both you and your customers.

Our plans include the following:

All policies in force on October 1, 2007 will be issued an endorsement that changes their “statutory PIP coverage” to “non-statutory PIP coverage”. Since non-statutory PIP is not a required coverage, customers may choose to remove this coverage from their policies at any time. Customers will be instructed to contact their agent to discuss coverage options. Non-statutory PIP coverage will be removed at the next renewal, and policies will be issued as tort policies.

Renewal offers sent between now and October 1, 2007 will be issued with PIP. We are doing this so that in the event that the Florida legislature does intervene and prevent the sunset of PIP, we don’t have any policies written without this required coverage. Again, should PIP sunset, customers will be able to remove non-statutory PIP from their policies.

Assuming PIP sunsets, all new business effective on or after October 1, 2007 and renewal business effective on or after November 5, 2007 will be written without PIP. This coverage will not be available for purchase. An amendatory endorsement will be attached to all tort policies, changing our no-fault policy contract to a tort policy contract.

Throughout this transition, we will be encouraging customers to talk with their agents about coverage options. If you have any questions or concerns, please contact your territory marketing manager.

We appreciate your business!                                             

 

Should you have any questions or comments regarding this information, please feel free to contact this office.