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Finally, this story makes it to a news site that doesn't require a subscription:
"Insurer's 90% Med-Mal Hike Under Fire in Conn."
http://www.insurancejournal.com/news/east/2004/08/16/44944.htm
I find this story intriguing for a few reasons.
1.Trial lawyers, consumer groups, and a doctor are working together:
"However the Connecticut Trial Lawyers Association, joined by two consumer groups and an individual doctor, have asked Insurance Commissioner Susan Cogswell to halt the increase and hold a public hearing to review what they say is an "excessive" and "unconscionable" price increase."
2. There are some actual stats suggesting insurance companies are price gouging for malpractice:
http://www.insurancejournal.com/news/east/2004/08/16/44944.htm
"Schwartz said his analysis shows that MedPro was making a "very high" profit of almost 50 percent in Connecticut ? even before it sought to hike its rates by close to 90 percent."
The trial lawyer/consumer group/doctor hired their own actuary, who came up with different numbers than the insurance company.
I first saw this story in the Hartford Courant, which requires a (free) subscription. If you're interested, it's worth reading both. They are not carbon copy articles:
http://www.ctnow.com/business/hc-malpractice0812.artaug12,1,4460117.story?coll=hc-headlines-business
"Insurer's 90% Med-Mal Hike Under Fire in Conn."
http://www.insurancejournal.com/news/east/2004/08/16/44944.htm
I find this story intriguing for a few reasons.
1.Trial lawyers, consumer groups, and a doctor are working together:
"However the Connecticut Trial Lawyers Association, joined by two consumer groups and an individual doctor, have asked Insurance Commissioner Susan Cogswell to halt the increase and hold a public hearing to review what they say is an "excessive" and "unconscionable" price increase."
2. There are some actual stats suggesting insurance companies are price gouging for malpractice:
http://www.insurancejournal.com/news/east/2004/08/16/44944.htm
"Schwartz said his analysis shows that MedPro was making a "very high" profit of almost 50 percent in Connecticut ? even before it sought to hike its rates by close to 90 percent."
The trial lawyer/consumer group/doctor hired their own actuary, who came up with different numbers than the insurance company.
I first saw this story in the Hartford Courant, which requires a (free) subscription. If you're interested, it's worth reading both. They are not carbon copy articles:
http://www.ctnow.com/business/hc-malpractice0812.artaug12,1,4460117.story?coll=hc-headlines-business
