New Jersey’s Department of Banking and Insurance has amended some 25 percent of its personal injury protection (PIP) rule proposals, after reviewing and incorporating recommendations from a mountain of public comment letters it received last year. The new, amended portions of the proposals will be published on Feb. 21 for a 60-day public comment period.
The department said that its PIP reform proposals had garnered over 18,000 public comments. The department’s 200-page-plus proposed changes aim to close loopholes that are being exploited by some providers, and cap PIP expenses and control the rising medical costs that insurers pay for auto accident victims. In addition to reviewing public comments, the department also received input from various parties during a packed State Assembly hearing last October.
Topics New Jersey
Was this article valuable?
Here are more articles you may enjoy.
Electric Bills in Coal Country West Virginia Now Top Mortgage Payments 
Wall Street Banks Try Out Anthropic’s Mythos 
Viewpoint: Japan’s $550B Bet on America鈥擶hat it Means for the US Insurance Market 
Here’s a List of Gulf Energy Infrastructure Damaged in Iran War From This Issue
