TALLAHASSEE, Fla. (AP) — Florida regulators are warning that a preliminary report estimating a new law will cut no-fault auto insurance premiums by 12 percent to 20 percent may be misleading and overly optimistic.

The Office of Insurance Regulation released a consulting firm’s draft report Friday in response to public records requests by the news media. The final version is due Sept. 15. It’s required as part of the new law, which is designed to reduce insurance fraud.