NEWS    RECALLS    COMPLAINT FORM    SCAM ALERTS   RESOURCES  
Small Claims Guide   Class Actions   Lemon Laws   FAQ   Newsletters  


Complain about a product or service

Automotive    Education    Employment    Electronics    Family    Finance    Health    Homeowners    Pets    Shopping    Travel   



NEWS   Latest |  Archives |  Auto |  Cells, etc. |  Computers |  Financial |  Health |  Homeowners |  Parents |  Privacy |  Scams |  Seniors |  Travel

Report Suggests Malpractice Insurance Price-Gouging





July 12, 2005

Malpractice Insurance

Malpractice Insurers Inflated Losses, Study Finds
Report Suggests Malpractice Insurance Price-Gouging
Report Finds No Link Between Doctors' Premiums and Malpractice Suits
GE: Malpractice Caps Don't Work

State officials are responding sharply to a study that suggests doctors are victims of price-gouging by insurance companies who continue to raise malpractice insurance premiums even as claims decline.

“The data in the Annual Statements filed under oath with state insurance departments, which this Report discloses, call into question much of what the medical malpractice insurance industry has been saying publicly during the past several years,” said Missouri Attorney General Jay Nixon.

“There is no excuse for malpractice insurers doubling their rates while their claims payments decrease.”

According to the study, released by the Consumer Federation of America, Public Citizen’s Congress Watch and U.S. PIRG, medical malpractice insurance rates for doctors have skyrocketed in recent years even though claim payments are down.

“The numbers underscore the need for much tougher, more aggressive oversight to prevent and punish profiteering,” Connecticut Attorney General Richard Blumenthal said. “Federal and state regulators should thoroughly scrutinize recent rate increases and take appropriate corrective action.

“Affordable medical malpractice insurance is critical to public health. Expensive insurance rates become a matter of life and death when they drive doctors out of business - as is happening in Connecticut and nationwide. Insurance company greed can be hazardous to our health.”

Michigan Office of Financial and Insurance Services Commissioner Linda A. Watters said she was "definitely disturbed" by the numbers in the report, which offers "evidence that doctors may be paying excessive premiums."

"In the market competition study that we recently issued, we considered loss ratios below 50 percent as patently excessive. If these carriers truly have loss ratios that that are this low and yet they are still increasing rates, one has to wonder if they're gouging,” Watters said.



Report Your Experience
If you've had a bad experience -- or a good one -- with a consumer product or service, we'd like to hear about it. All complaints are reviewed by class action attorneys and are considered for publication on our site. Knowledge is power! Help spread the word. File your consumer report now.



Asterpix

CONSUMER NEWS

SAFETY RECALLS

PRINT, ETC.

Print This

Email This


FREE CONSUMER NEWSLETTERS

The Daily Consumer
Afternoons M-F

Sign up now!


Consumer News & Alerts
Every Sunday

Sign up now!

MOST-VIEWED PAGES

NEW COMPLAINTS

Hey there! ConsumerAffairs.com is using Twitter.
Twitter is a free service that lets you keep in touch throughout the day. Join today to start receiving ConsumerAffairs.com's updates.



Back to the top |

Advertisement


Custom Search
AUTOMOTIVE
• Dealers
• Manufacturers
• Service
• Extended Warranties
• Lemon Laws
• Recalls
• Tires
• Transporters

FAMILY
• Aging
• Children, Parenting
• Recalls
• Dating
• Education
• Entertainment
• Pets
• Weddings
FINANCE
• Annuities
• Banks
• Credit Cards
• Debt Collection
• Debt Counseling
• Insurance
• Investing
• Loans
• Mortgages
• Payday Loans
• Student Loans
• Tax Prep

HEALTH
• Doctors
• Drugs, Pharmacies
• Health Clubs
• Hearing Care
• Hospitals
• Nursing Homes
• Nutrition, Diets
• Vision Care
• Weight Loss
HOMEOWNERS & RENTERS
• Appliances
• Cookware
• Furniture
• Home Improvements
• Lawn & Garden
• Movers
• Pools & Spas
• Realtors, Rental Agents
• Recalls
• Utilities

ELECTRONICS
• Cable TV/DBS
• Cameras
• Cell Phones
• Computers
• Home Electronics
• Internet Access
• Local Phone Service
• Long Distance
• VoIP
SHOPPING
• In-Home
• Online
• Retail Stores
• Sporting Goods
• Supermarkets
• Telemarketers

TRAVEL
• Airlines
• Bus Lines
• Car Rental
• Cruises
• Hotels
• Travel Agents
• Trains

RESOURCES
• Class Actions
• Complaint Form
• Small Claims Guide
• Lemon Laws
CONSUMER NEWS
• Latest News
• Automotive
• Telecom
• Financial
• Health
• Homeowners
• Scams
• Seniors
• Travel
• More ...

RECALLS
• Automotive
• Children's Products
• Drugs
• Food
• Household Products
• Sporting Goods

ABOUT US
• FAQ
• Privacy Policy
• Advertise With Us
• Newsroom
• Syndication
• Terms of Use

Terms of Use Your use of this site constitutes acceptance of the Terms of Use

Advertisements on this site are placed and controlled by outside advertising networks. ConsumerAffairs.com does not evaluate or endorse the products and services advertised. See the FAQ for more information.

Company Response Welcome If complaints about your company appear on our site, we welcome your response. Please see the Response Form for more information.

For more information, see the FAQ and privacy policy. The information on this Web site is general in nature and is not intended as a substitute for competent legal advice.  ConsumerAffairs.com Inc. makes no representation as to the accuracy of the information herein provided and assumes no liability for any damages or loss arising from the use thereof. 

Copyright © 2003-2009 ConsumerAffairs.com Inc.  All Rights Reserved.    The contents of this site may not be republished, reprinted, rewritten or recirculated without written permission.