New York State
FOR IMMEDIATE RELEASE
DEPARTMENT TO APPEAL REGULATION 68 RULING
New Yorks Consumers Remain Protected, Lower Courts Ruling Stayed
Superintendent of Insurance Neil D. Levin today announced that the Department has filed a notice of intent to appeal a June 9 decision striking down Regulation 68 on a procedural technical basis. The filing of the notice of appeal stays the effect of the lower Courts order as a matter of law and the regulation remains in force.
"Regulation 68 is a necessary and effective tool in the fight to control insurance costs and create a stable rate environment. No-fault abuse and fraud costs New Yorks consumers over $100 million a year," said Levin. "By keeping this important consumer protection in place, there wont be one day where New Yorks insurance consumers are without the benefits contained within Regulation 68. Regulation 68 provides better safeguards for the consumer, better case management for the insurance industry and results in a fairer automobile insurance marketplace."
The Department has issued Circular Letter #20 advising the industry that Regulation 68 remains in effect upon filing of the notice of appeal as a matter of law.