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:6/25/2016)... ... June 25, 2016 , ... Conventional wisdom preaches the benefits of moderation, whether ... latter, setting the bar too high can result in disappointment, perhaps even self-loathing. However, ... their goal. , Research from PsychTests.com reveals that behind the tendency ...
(Date:6/24/2016)... ... ... June 19, 2016 is World Sickle Cell Observance Day. In an effort to ... treatments, Serenity Recovery Center of Marne, Michigan, has issued a pain management ... (SCD) is a disorder of the red blood cells, which can cause episodes of ...
(Date:6/24/2016)... ... ... Global law firm Greenberg Traurig, P.A. announced that 20 Florida attorneys are recognized ... this recognition are considered among the top 2 percent of lawyers practicing within the ... this year’s Legal Elite Hall of Fame: Miami Shareholders Mark D. Bloom, Burt ...
(Date:6/24/2016)... ... June 24, 2016 , ... Topical BioMedics, Inc, makers of Topricin and MyPainAway Pain Relief ... a minimum wage raise to $12 an hour by 2020 and then adjusting it yearly ... lost value of the minimum wage, assure the wage floor does not erode again, and ...
(Date:6/24/2016)... York, NY (PRWEB) , ... June 24, 2016 ... ... publication Haute Living, is proud to recognize Dr. Barry M. Weintraub as a ... that “the most beautiful women in the world, and the most handsome men, ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... 23, 2016 Research and Markets ... Market by Type (Organic Chemical (Sugar, Petrochemical, Glycerin), Inorganic ... Coating, Parenteral) - Global Forecast to 2021" report ... The global pharmaceutical excipients market is projected to ... of 6.1% in the forecast period 2016 to 2021. ...
(Date:6/23/2016)... , June 23, 2016 ... CAPR ), a biotechnology company focused on the ... announced that patient enrollment in its ongoing randomized ... has exceeded 50% of its 24-patient target. Capricor ... the third quarter of 2016, and to report ...
(Date:6/23/2016)... and INDIANAPOLIS , June 23, ... a Lilly Diabetes Tomorrow,s Leaders Scholarship is any indication, ... winners, announced today online at www.diabetesscholars.org by ... 1 diabetes stand in the way of academic and ... the Foundation,s scholarship program since 2012, and continues to ...
Breaking Medicine Technology: