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News Release

New Jersey Department of
Banking and Insurance

Commissioner Neil N. Jasey

For Immediate Release:
November 23, 2009

For Further Information:
Ed Rogan or Marshall McKnight (609) 292-5064

“We are gratified by the Supreme Court decision upholding the Superior Court of New Jersey Appellate Division’s August ruling which affirmed the Department’s adoption of the Personal Injury Protection, or PIP, medical fee schedule in 2007,” said New Jersey Department of Banking and Insurance Commissioner Neil N. Jasey.  

“The PIP fee schedule is the product of many years of diligent work by the Department which included a lengthy process that incorporated significant input from many interested parties from within the provider community. PIP costs have been rising dramatically recently resulting in upward pressure on rates. The Department views the implementation of the PIP fee schedule as a means to help contain health care costs associated with automobile accidents, exerting downward pressure on insurance rates and greatly benefiting New Jersey’s auto insurance consumers,” said Commissioner Jasey.