The Connecticut Department of Insurance has reaffirmed an October decision denying a 12 percent increase in medical malpractice insurance rates requested by ProSelect.
ProSelect had appealed the earlier rejection of the increase that it originally field for in June. But Commissioner Susan Cogswell has again denied the bid, ruling that the 12 percent increase would be excessive.
The Connecticut Trial Lawyers Association, which was granted intervenor status, welcomed the news.
“If ProSelect honestly believed they must increase the rates they charge their customers for medical malpractice insurance by 12 percent, such an increase should have been able to withstand the scrutiny of the review process now mandated by law,” said Trial Lawyers Association president Ernest Teitell.
Testifying for CTLA was Alan Schwartz, president of AIS Risk Consultants, Inc. He testified that the overall ProSelect rate level should actually be decreased by 17.2 percent.
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