The report from the Office of Insurance Regulation noted Tuesday that future
savings may only be realized by limiting premium increases and not actually
reduce premiums. The savings are only on the PIP portion of the premium, which
figures to about 20 percent of the average auto insurance bill.
The state's insurance consumer advocate, Robin Westcott, said she expects the
savings will be greater than those estimated by Pinnacle Actuarial Resources.
The actuary was hired by OIR.However skeptics say they'll believe it when they see any savings passed along
to policyholders and not pocketed by insurance companies.