Navigation Links
Connecticut Trial Lawyers Ask Doctors to Question Insurer's Excess Profits

HARTFORD, Conn., Nov. 8 /PRNewswire-USNewswire/ -- The Connecticut Trial Lawyers Association (CTLA) today released a new actuarial analysis revealing that, for several years Connecticut Medical Insurance Company (CMIC) has been charging doctors excessive premiums causing their overhead to soar and, needlessly contributing to the growing cost of Connecticut health care.

The analysis, prepared by AIS Risk Consultants, a New Jersey independent actuarial firm, is based on the most recent financial reports filed by CMIC with state regulators.

The analysis shows, that from January 1, 2004 through June 2007, CMIC reported net income after taxes of $51.4 million. These profits were over 40% of the net premium CMIC earned from the premiums charged doctors during that time period.

"It's long past time for Connecticut doctors to put aside their distrust of trial lawyers and conduct their own review of CMIC's excessive profits," said Joseph Mirrione, CTLA President. "At least one company (ProMutual) has chosen to seek a reduction in the premiums it charges doctors. In marked contrast, CMIC's refusal to lower its inflated rates has resulted in Connecticut physicians funding the excessive and growing profits of CMIC -- from $7.6 million in 2004, to $10.9 million in 2005, and $24.5 million in 2006."

"This behavior does nothing more than add to the already inflated overhead doctors must bear and needlessly drives up the cost of Connecticut health care," Mirrione continued.

The analysis also includes details of a decline in CMIC's unpaid losses and loss adjustment expenses (legal and claim adjustment expenses) which indicates that the reserves the company has established are inflated and were much more than sufficient to pay actual losses and expenses.

A copy of this press release and link to actuarial report can be found at the following address:

The Connecticut Trial Lawyers Association is a nonprofit association dedicated to creating and maintaining a more just society by preserving individuals' rights and ensuring that the Civil Justice system works for all people.

SOURCE Connecticut Trial Lawyers Association
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. BlueCare(R) Family Plan, a HUSKY Health Plan from Anthem Blue Cross and Blue Shield in Connecticut, Raises Awareness, Funds and Diapers for New Haven Diaper Bank
2. Connecticut Bishops Back Down over Provision of Emergency Contraception
3. Connecticut Catholic Conference Wrong to Allow Plan B in Catholic Hospitals
4. CAS Medical Systems, Inc. Ranked Among Connecticuts Fastest Growing Technology Companies
5. Connecticut Girl Fights Rare Neurological Disease
6. SPOC, Inc. announces completion of $300,000 follow-on investment by Connecticut Innovations
7. New Heart Pump Shows Promise in Trial
8. Trial to Test Gene Therapy for Angina in Women
9. AKELA Pharma Inc. announces positive results for the extension part of its Phase IIb Fentanyl TAIFUN(R) trial
10. The New England Journal of Medicine Publishes EURIDIS/ADONIS Study Results Showing Dronedarone Maintained Sinus Rhythm in Patients With Atrial Fibrillation or Flutter With no Observed Pro-Arrhythmia
11. Provectus Pharmaceuticals, Inc. Begins Phase 2 Clinical Trial for Metastatic Melanoma
Post Your Comments:
(Date:6/26/2016)... ... June 26, 2016 , ... ... have been diagnosed with endometriosis. These women need a treatment plan to not ... comprehensive approach that can help for preservation of fertility and ultimately achieving a ...
(Date:6/25/2016)... , ... June 25, 2016 , ... Austin residents seeking ... American College of Mohs Surgery and to Dr. Russell Peckham for medical and surgical ... effective treatment for skin cancer. The selective fellowship in Mohs Micrographic Surgery completed by ...
(Date:6/25/2016)... ... June 25, 2016 , ... "With 30 hand-drawn hand gesture animations, FCPX ... Austin - CEO of Pixel Film Studios. , ProHand Cartoon’s package transforms over ... Cut Pro X . Simply select a ProHand generator and drag it above media ...
(Date:6/25/2016)... Beach, CA (PRWEB) , ... June 25, 2016 , ... ... UCLA with Magna Cum Laude and his M.D from the David Geffen School of ... Diego and returned to Los Angeles to complete his fellowship in hematology/oncology at the ...
(Date:6/25/2016)... ... ... On Friday, June 10, Van Mitchell, Secretary of the Maryland Department of Health and ... their exemplary accomplishments in worksite health promotion. , The Wellness at Work Awards took ... the BWI Marriott in Linthicum Heights. iHire was one of 42 businesses to receive ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... , June 23, 2016 ... CAPR ), a biotechnology company focused on ... today announced that patient enrollment in its ongoing ... Duchenne) has exceeded 50% of its 24-patient target. ... in the third quarter of 2016, and to ...
(Date:6/23/2016)... INDIANAPOLIS , June 23, 2016 /PRNewswire/ ... Diabetes Tomorrow,s Leaders Scholarship is any indication, the future ... today online at by the Diabetes ... stand in the way of academic and community service ... scholarship program since 2012, and continues to advocate for ...
(Date:6/23/2016)... June 23, 2016 The vast majority of ... dialysis facility.  Treatments are usually 3 times a week, ... visit, including travel time, equipment preparation and wait time. ... especially grueling for patients who are elderly and frail.  ... nursing and rehabilitation centers for some duration of time. ...
Breaking Medicine Technology: