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:6/26/2016)... ... June 26, 2016 , ... PawPaws brand pet supplements ... that was developed to enhance the health of felines. The formula is all-natural and ... main herbs in the PawPaws Cat Kidney Support Supplement Soft Chews are ...
(Date:6/25/2016)... ... , ... Austin residents seeking Mohs surgery services, can now turn to Dr. ... Russell Peckham for medical and surgical dermatology. , Dr. Dorsey brings specialization to include ... in Mohs Micrographic Surgery completed by Dr. Dorsey was under the direction of Glenn ...
(Date:6/25/2016)... CA (PRWEB) , ... June 25, 2016 , ... As ... with Magna Cum Laude and his M.D from the David Geffen School of Medicine ... and returned to Los Angeles to complete his fellowship in hematology/oncology at the UCLA-Olive ...
(Date:6/24/2016)... ... June 24, 2016 , ... A recent article published June 14 ... The article goes on to state that individuals are now more comfortable seeking to ... operations such as calf and cheek reduction. The Los Angeles area medical group, Beverly ...
(Date:6/24/2016)... ... June 24, 2016 , ... The Pulmonary Hypertension Association (PHA) ... will receive two significant new grants to support its work to advance research ... anniversary by recognizing patients, medical professionals and scientists for their work in fighting ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... , June 24, 2016  Collagen Matrix, ... design, development and manufacturing of collagen and mineral ... announced today that Bill Messer has ... Marketing to further leverage the growing portfolio of ... devices. Bill joins the Collagen Matrix ...
(Date:6/24/2016)... -- The Academy of Managed Care Pharmacy (AMCP) today ... allow biopharmaceutical companies to more easily share health care ... coverage decisions, a move that addresses the growing need ... The recommendations address restrictions in the sharing of product ... a prohibition that hinders decision makers from accessing HCEI ...
(Date:6/24/2016)... 2016   Pulmatrix, Inc ., (NASDAQ: ... drugs, announced today that it was added to the ... its comprehensive set of U.S. and global equity indexes ... important milestone for Pulmatrix," said Chief Executive Officer ... our progress in developing drugs for crucial unmet medical ...
Breaking Medicine Technology: