Firms to answer malpractice rate allegations


Medical malpractice companies benefiting from courtroom caps today must tell state regulators why they are not returning more of that money to doctors and the public.

Insurance Commissioner Kevin McCarty has ordered executives of major malpractice insurers to attend public hearings today in Tallahassee on their rates.

Consumer Advocate Steve Burgess, in the Department of Financial Services, estimates premiums should be cut 40 percent to 50 percent.

Michigan-based ProNational Insurance instead offers to cut rates 8.6 percent.

The Legislature three years ago capped pain and suffering awards to $500,000 per physician and $1 million per case. Since then, Burgess contends, insurance data shows medical malpractice legal costs and payouts have dropped 43.6 percent, from $989 million to $557 million.
see original

You may also like

Legislative panel approves medical malpractice bill
Read more
Urgent-care centers: Illinois numbers grow as time-pressed families seek low-cost option to ERs
Read more
Global Center for Medical Innovation launches
Read more

Recent Posts

California Healthcare Providers, Trial Attorneys, Legislators Reach Deal to Increase MICRA Cap

Corporate Acquisitions Accelerating Surge in Employed Physicians

AM Best Maintains Negative Outlook for MPL Segment in 2022, Cites Rising Loss Costs, Increasing Severity, Diminished Reserves

Popular Posts

PIAA 2017: Current Trends & Future Concerns

2022 Medical Malpractice Insurance Rates: What the data tells us

Global Center for Medical Innovation launches

Start Your Custom Quote Process™

Request a free quote