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Statement from CFO Sink on Passage of No-Fault Reform

10/5/2007

CONTACT: Tara Klimek
(850) 413-2842
  
TALLAHASSEE—After months of negotiations, the Florida Senate and House of Representatives today passed legislation to reform Florida’s 30-year-old Motor Vehicle No-Fault Law. 
 
Chief Financial Officer Alex Sink issued the following statement:  
 
“Thanks to the actions of our hardworking legislators, Florida’s No-Fault Law will be reformed and reinstated.  I applaud Senator Posey, Representative Bogdanoff and our Legislative leaders for their success in developing a reform bill that protects Florida drivers, institutes cost controls and will help us better combat insurance fraud.” 
 
“Additionally, I encourage all Florida drivers to contact their insurance agents to ensure they have adequate insurance coverage to protect themselves and their assets before the new law goes into effect on January 1, 2008.”  
 
As a statewide elected officer of the Florida Cabinet, Chief Financial Officer Alex Sink oversees the Department of Financial Services, a multi-division state agency responsible for management of state funds and unclaimed property, assisting consumers who request information and help related to financial services, and investigating financial fraud. Sink also serves as the State Fire Marshal.