Studies show physicians malpractice insurance rates not tied to claims
Posted Thursday, July 13, 2006 by Ed Harper.
Folks,
I-330 was defeated recently in Washington State as the medical malpractice insurance industry tried to pull the wool over consumers eyes. A recent study of the largest 15 insurance carriers for the medical industry in the US have collected more than 3 times the amount of premiums over the last three years and payouts on claims has actually dropped! Another finding mentions that premium collection has increased by 120% and payouts on claims has only increased 5.7% during 2000-2004.
So what drives the “crisis” in the medical industry? Insurance Companies desire to make more money and they have deceived the medical industry.
Wisconsin Supreme Court has recently found that caps on malpractice verdicts bear no relation to lower insurance premiums. Now Wisconsin is one of 14 states to have ruled that caps on verdicts are unconstitutional as they caps merely deprive the injured person and their families from adequate compensation for their injuries. This was why it was so important to stand up to the insurance industry and vote no on I-330.
For more information, please read Falling Claims And Rising Premiums In The Medical Malpractice Insurance Industry. Let me know what you think after reading it.
Ed Harper
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