TALLAHASSEE, Fla. (AP) - Florida regulators are warning that predicted savings on auto insurance premiums under a new law may be misleading.
    
The Office of Insurance Regulation on Friday released a preliminary report estimating no-fault premiums could drop 12 to 20 percent.
    
The agency also issued a list of caveats. One is that the estimate is for premiums that insurers are entitled to receive. Companies, though, often ask for lower premiums because auto insurance is highly competitive.
    
Another caveat is that the savings would be just for personal injury protection, which accounts for only about 20 percent of a total insurance bill.
    
The new law is designed to reduce PIP fraud. It calls for a 10 percent premium savings unless companies can explain why they can't cut that much.

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