Interesting how the right hand does not knows what the left hand is doing. Almost all of the reforms in this Bill do not come into effect until January of 2012. How can you explain insurers filing reduction of PIP premiums based on future implementation of a law?
Have we not learned that reduction in benefits result in reduction in premiums. Funny how everyone in our industry rants and raves about the amounts being paid out in claims until they do something about it and reduces the premium and our commissions. Oh well, you would have thought we would have learned from the 1994 managed care reform and the Work Comp reform in 2004 which resulted in a 55% rate reduction over the next 6 years. Hmmmmm.
I am for more attorneys working in the personal injury field along with higher cost of auto repair and doctors fees being raised through the roof! How about you? LOL…..
In an unrelated note, I would like to see both the ACV settlement combined with 10% sinkhole deductibles. I think this could be very beneficial on the property side of the house. It has to help curb the phony claims.
I would like my $10000 in medical benefits if that’s what I am paying for if not charge me for $2500 u plan on giving me. I think I shouldn’t have to go tie up a hospital ER if my chiropractor can do the same X-rays and charge the insurance company less than what a hospital. I have been in an accident and went to he ER and all the did was take X-rays and give me pain meds. I would rather get better than get the symptoms covered by drugs.
Interesting how the right hand does not knows what the left hand is doing. Almost all of the reforms in this Bill do not come into effect until January of 2012. How can you explain insurers filing reduction of PIP premiums based on future implementation of a law?
Getting government involved always complicates things. PIP was a government initiative. The time for PIP has past.
January 2013, not 2012.
Some of the provisions start July 1 of this year, mostly the anti-fraud enforcement. The actual coverage changes start in 2013.
Have we not learned that reduction in benefits result in reduction in premiums. Funny how everyone in our industry rants and raves about the amounts being paid out in claims until they do something about it and reduces the premium and our commissions. Oh well, you would have thought we would have learned from the 1994 managed care reform and the Work Comp reform in 2004 which resulted in a 55% rate reduction over the next 6 years. Hmmmmm.
I am for more attorneys working in the personal injury field along with higher cost of auto repair and doctors fees being raised through the roof! How about you? LOL…..
In an unrelated note, I would like to see both the ACV settlement combined with 10% sinkhole deductibles. I think this could be very beneficial on the property side of the house. It has to help curb the phony claims.
I am in ‘our industry’, but let’s see if the reforms work before we start requiring the insurance companies to charge less for PIP.
I would like my $10000 in medical benefits if that’s what I am paying for if not charge me for $2500 u plan on giving me. I think I shouldn’t have to go tie up a hospital ER if my chiropractor can do the same X-rays and charge the insurance company less than what a hospital. I have been in an accident and went to he ER and all the did was take X-rays and give me pain meds. I would rather get better than get the symptoms covered by drugs.