Navigation Links
Connecticut Trial Lawyers Ask Doctors to Question Insurer's Excess Profits
Date:11/8/2007

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: http://www.cttriallawyers.org/questioninsuranceprofits

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:
*Name:
*Comment:
*Email:
(Date:4/28/2017)... ... April 28, 2017 , ... Horizon Blue Cross Blue Shield of ... rating of “A” and its outlook as “stable.” At the same time, the ratings ... fallen in recent years, dip below “capital adequacy” thresholds required for its strong rating. ...
(Date:4/28/2017)... ... April 28, 2017 , ... Ushio ... These lamps offer an instant energy-saving solution for F32T8 fluorescent lamps on most ... disconnect ballasts. These 50,000 hour rated lamps utilize the existing electronic ballast, saving ...
(Date:4/28/2017)... ... April 28, 2017 , ... The Texas Cord Blood Bank (TCBB), a ... and delivery team at Women’s Hospital at Renaissance in Edinburg for their outstanding efforts ... hospital and decide to donate. , “Women’s Hospital at Renaissance has been a ...
(Date:4/28/2017)... ... 28, 2017 , ... Bill Howe started his sewer and drain company in ... Howe joined the team, the Bill Howe brand was born and they began cultivating ... giving back to the San Diego community in which they worked, lived and were ...
(Date:4/28/2017)... ... April 28, 2017 , ... ... assisting the Brooke Grove Foundation implement a Microsoft Dynamics GP solution that integrates ... leading ERP expert that specializes in long-term care, Brooke Grove now has the ...
Breaking Medicine News(10 mins):
(Date:4/20/2017)... -- Vivify Health, the pioneer and market leader of remote ... significant patent for the advancement of healthcare delivery from ... health.  This landmark patent provides the company with broad ... position as the leader in remote care.  ... to apply consumer mobile devices, wireless biometrics, EMR integration ...
(Date:4/20/2017)... 20, 2017 Research and Markets has announced ... Driven by Rapidly Expanding Injectables Market and Increasing Usage of Complex ... ... technologies will rise from USD 20 Billion in 2015 to around ... Delivery Technologies - Innovation Driven by Rapidly Expanding Injectables Market and ...
(Date:4/20/2017)... April 20, 2017 Research and Markets ... Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key ... to their offering. ... global pharmacogenomics market was valued at US$ 7,167.6 Mn in ... 2024, expanding at a CAGR of 5.6% from 2016 to ...
Breaking Medicine Technology: