Auto Insurance
METRO NEWS BRIEFS: NEW JERSEY; Auto Insurance Panel Agrees on a Few Changes
A committee overhauling the state’s automobile insurance laws agreed yesterday to measures that would crack down on insurance fraud and provide low-cost policies, officials said. But with only a week before Gov. Christine Todd Whitman’s March 31 deadline to introduce such legislation, the committee has yet to address controversial proposals to reduce premiums in urban areas and to limit drivers’ ability to sue for pain and suffering.
‘’In my opinion, we are not going to meet the deadline,'’ said State Senator Joseph M. Kyrillos, Republican of Middletown, a committee member.
Mr. Kyrillos said the committee agreed on a basic policy that would cost about $350 a year – the current average is $1,099, the nation’s highest – and would provide $15,000 of medical coverage instead of the $250,000 that state law now requires. He said members also agreed to create a prosecutor’s position in the office of the Attorney General specifically to crack down on fraud, which accounts for an estimated 16 percent of premiums. The committee is scheduled to meet Thursday.
Source : query.nytimes.com
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