Why are we always so quick to blame high premiums on people submitting exaggerated claims instead on question and auditing the insurance company?
The med-insurance company mentioned in this article should be charged with FRAUD!
It is unconscionable raising premiums by 90%. This does not only affect the physcian, it also affects the patient of the physician and society as a whole.
What was the insurance commissioner (puppet) thinking? Did he not review and analyze the data? Now that the lawyers and doctors are involved, he want to re-examine the matter.
WINNERS: AGENTS & INSURANCE COMPANY INVESTORS AND OFFICERS
LOSERS: INSUREDS & LOWER LEVEL EMPLOYEES
Maybe the carriers who stopped selling Flood insurance in Florida also should be charged with Fraud?
Is Mike the only one here with any insurance experience. Sounds like a bunch of consumers wanting everything for nothing, Jumping to conclusions without the details.
This is no different than price gouging by contractors after a storm. Pricing not based on actual results but a distorted market condition.
At GE greed is still good.
It’s these kinds of comments that make me despair of anyone truly understanding insurance. Even if these guys are writing claims-made policies, they can still pay out in one year 200% of that year’s premiums in claims. Winston, are you going to look at those years as well, and allow this company to charge extra premium in those years? I’m sure you won’t.
Before you attack the insurance companies, does anyone else question why the TRIAL LAWYERS have standing to challenge the insurance rates GE is charging to DOCTORS? These bloodsucking leaches don’t want there to be a crisis that drives meaningful tort reform, because they ave been fattening themselves at that trough for years, and don’t want to see it dry up.
I would have more sympathy for Medical Protective if not for our recent experience in Texas. In September, 2003, at the urging of the insurance and medical communities, Proposition 12 was passed which limited non economic damagages to $250,000. This constitutional change was going to solve our problems with high medical costs, doctors refusing to provide service, etc. You know the arguments.
I am trying to recall if it was two weeks or three weeks after the passage of the amendment when Medical Protective announced a double digit rate increase for malpractice. It was a very short time. To be fair to Medical Protective, only 1 of the writers of medical malpractice in Texas did not do the same thing.
However,Medical Protective, as well as the rest of the insurance industry, was not open and honest with the public.
Why are we always so quick to blame high premiums on people submitting exaggerated claims instead on question and auditing the insurance company?
The med-insurance company mentioned in this article should be charged with FRAUD!
It is unconscionable raising premiums by 90%. This does not only affect the physcian, it also affects the patient of the physician and society as a whole.
What was the insurance commissioner (puppet) thinking? Did he not review and analyze the data? Now that the lawyers and doctors are involved, he want to re-examine the matter.
WINNERS: AGENTS & INSURANCE COMPANY INVESTORS AND OFFICERS
LOSERS: INSUREDS & LOWER LEVEL EMPLOYEES
Maybe the carriers who stopped selling Flood insurance in Florida also should be charged with Fraud?
Is Mike the only one here with any insurance experience. Sounds like a bunch of consumers wanting everything for nothing, Jumping to conclusions without the details.
This is no different than price gouging by contractors after a storm. Pricing not based on actual results but a distorted market condition.
At GE greed is still good.
Sorry Winston – not fraud.
It’s these kinds of comments that make me despair of anyone truly understanding insurance. Even if these guys are writing claims-made policies, they can still pay out in one year 200% of that year’s premiums in claims. Winston, are you going to look at those years as well, and allow this company to charge extra premium in those years? I’m sure you won’t.
Before you attack the insurance companies, does anyone else question why the TRIAL LAWYERS have standing to challenge the insurance rates GE is charging to DOCTORS? These bloodsucking leaches don’t want there to be a crisis that drives meaningful tort reform, because they ave been fattening themselves at that trough for years, and don’t want to see it dry up.
I would have more sympathy for Medical Protective if not for our recent experience in Texas. In September, 2003, at the urging of the insurance and medical communities, Proposition 12 was passed which limited non economic damagages to $250,000. This constitutional change was going to solve our problems with high medical costs, doctors refusing to provide service, etc. You know the arguments.
I am trying to recall if it was two weeks or three weeks after the passage of the amendment when Medical Protective announced a double digit rate increase for malpractice. It was a very short time. To be fair to Medical Protective, only 1 of the writers of medical malpractice in Texas did not do the same thing.
However,Medical Protective, as well as the rest of the insurance industry, was not open and honest with the public.