New York's highest court of appeals has held that no-fault insurers cannot deny no-fault benefits where they unilaterally determine that a provider has committed misconduct based upon alleged fraudulent conduct. The Court held that this authority belongs solely to state regulators, specifically New York's Board of Regents, which oversees professional licensing and discipline. This follows a similar recent ruling in Florida reported in this publication.
Internet Commerce on the Rise
A study released by the International Data Corporation finds that revenue generated from e-commerce (financial transactions that take place over the Internet) is expected to reach $400 billion by the year 2002.
IDC predicts the number of computer users who will purchase goods and services on line will rise dramatically, from 18 million in 1997 to 128 million in 2002. IDC also predicts that there will be 320 million people on the Net the end of 2002.
Reference
E-commerce to hit $400 billion. C/Net News ([url=http://www.news.com]http://www.news.com[/url]), August 17, 1998.