A state-commissioned study in September by Illinois-based Pinnacle Actuarial Resources determined the 2012 reform law resulted in an estimated statewide average savings in PIP premiums of 15.1 percent.
However, the Office of Insurance Regulation reported that while rates dropped for the first two years, they have grown since 2015 by 25.7 percent — driven by increases in medical care, costs of vehicle body work and distracted drivers.
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4/13/2017
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