The public hearing on the issue took place earlier this summer
The Division of Insurance issued an Order on September 4, 2014 approving the Proposed Amendments to Performance Standards for the Handling and Payment of Private Passenger Motor Vehicle Insurance Claims by Assigned Risk Companies and to Performance Standards for the Handling and Payment of Commercial Motor Vehicle Insurance Claims by Servicing Carriers. The Commonwealth Automobile Reinsurers (“CAR”) Governing Committee had approved the Proposed Amendments on June 18th.
Upon its approval, CAR sent a formal request for the Commissioner’s approval of the Proposed Amendments shortly thereafter. In response, the Division of Insurance held a public hearing on the matter on August 7th. According to the DOI’s Order, the new Amendments “…recognize that cost control in this market is achieved through competition among repair shops and that industry-recognized sources provide data points for determining whether labor, repair and replacement times are reasonable.”