BestWeek: New Jersey PIP Medical Fee Schedule Is Here to Stay

OLDWICK, N.J.--(Business Wire)--
The New Jersey personal injury protection medical fee schedule is here to stay,
according to a story in the new edition of BestWeek U.S./Canada.

The state Supreme Court has affirmed a decision earlier this year by the
Superior Court`s Appellate Division that the determination of the fees by the
Department of Banking and Insurance was not arbitrary, as the New Jersey Medical
Society had alleged when it challenged the fee schedule.

Eric Stenson, spokesman for New Jersey Manufacturers, said the affirmation is a
"victory for anyone paying premiums" in New Jersey. "This assures a level of
predictability. Just to be able to get a handle on what will be paid out - that
level of certainty - is a huge thing."

Also in BestWeek U.S./Canada: Despite the recession, the U.S. and Bermuda
reinsurance markets are seeing a disciplined January renewal season as
reinsurers benefit from both an improved investment market and a quiet hurricane
season.

In November, as reinsurers were busy giving quotes to clients in the annual
pursuit of January renewals, companies said they were seeing stable premium
rates, terms and conditions - unless the ceded portfolio had experienced some
losses.

Also in BestWeek Europe: U.K. banks before June 2007 were considered among the
strongest and best-run in the world, but two years later, the United Kingdom has
experienced its first bank run since 1866, according to a new Best`s Special
Report.

And in Regulatory Week: Medicare Advantage plans are facing a challenging
environment as Congress considers health care reforms that would slice federal
underwriting of the private sector programs.

Separate bills approved by the House of Representatives and under consideration
in the Senate would restructure payments to Medicare Advantage plans to bring
them more in line with traditional fee-for-service Medicare. Leveling these
payments would produce from $118 billion to $170 billion in federal budget
savings over a 10-year period, according to an analysis by the nonpartisan
Congressional Budget Office.

BestWeek is published by A.M. Best Co. for insurance professionals. To
subscribe, please visit www.ambest.com/sales/BestWeek.

Founded in 1899, A.M. Best Company is a global full-service credit rating
organization dedicated to serving the financial and health care service
industries, including insurance companies, banks, hospitals and health care
system providers. For more information, visit www.ambest.com.

A.M. Best Co.
Caroline Saucer, 908-439-2200, ext. 5774
caroline.saucer@ambest.com

Copyright Business Wire 2009