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Overstated Med Mal Losses

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A consumer group which watches the insurance industry has determined that insurance companies pad their losses by 50% or so when reporting them to state regulators - conduct calculated to gain regulatory approval for excessively hiking malpractice premiums. According to the Foundation for Taxpayer and Consumer Rights the claims of the insurance industry that losses from malpractice suits are forcing them to jack up malpractice premiums ignores reality. The losses reported by insurance companies to state regulators to justify rates are actually much larger than the losses paid out. During a 9 year study from 1986 to 1994 the industry reported to regulators losses of $39.6 billion but actually paid only $26.7 billion. The losses were overstated by approximately 50% over the nine year period. (The study examines a period ending 10 years ago because it takes almost a decade to compare losses insurers report to regulators with the amounts actually paid out after malpractice claims have made their way through the court system -- a process that can take nine or 10 years.) About 190 medical malpractice insurance companies sell malpractice insurance and write about $9.4 billion in policies a year. The United States spends about $1.7 trillion on health care annually - so even with the inflated premiums - all malpractice costs are still less than 1% of annual healthcare expenditures. (Dean Starkman, Washington Post, December 29, 2005)

 

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Accident Lawyer Hawaii

Law Offices of William H. Lawson
Kahala Avenue
Honolulu, HI 96816
(by appointment only)

Law Offices of William H. Lawson
Century Square
1188 Bishop St. Suite 2902
Honolulu, HI 96813

New client hotline:
(808) 671-7600

Pearl City, Aiea and Waipahu:
(808) 671-7600

Main business phone:
(808) 528-2525


Directions to Honolulu office




Products Liability - Cases & Comment



Jones Act- maritime law and seaman cases



The Constitution Of The State Of Hawaii


Recent Personal Injury and Car Accident News


Some accidents happen and the victims don't know who hit them. In such cases, a negligent driver can sometimes be found through law enforcement, video cameras, and investigation. See, Woman Settles for $3 Million After Being Run Over by School Bus. In addition, in other cases, the injured parties may be able to pursue insurance coverages that are designed to fill in such gaps - such as Uninsured Motorist Insurance and/or Underinsured Motorist Insurance.





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AV Preeminent rated by Martindale Hubbell Martindale Hubbell - AV rated lawyer - Best Rating Possible Multi-Million Dollar Advocates Forum Multi-Million Dollar Advocates Forum AVVO Top Rated Personal Injury Attorney AVVO Top Rated Personal Injury Attorney, 10 of 10 ATLA Top 100 Trial Lawyers ATLA Top 100 5.0 of 5.0 top rated by Lawyers.com Lawyers.com - Rated 5.0 out of 5.0 - Top Rating Possible National Trial Lawyers - Top Lawyer National Trial Lawyers - Top 100 Trial Lawyers Million Dollar Advocates Forum Million Dollar Advocates Forum American Society of Legal Advocates - Top 100 - 2017 American Society of Legal Advocates - Top 100 - 2017 Marquis' Who's Who Marquis' Who's Who in the World, Who's Who in America and Who's Who in American Law AVVO Clients' Choice Personal Injury Lawyer AVVO Clients' Choice Personal Injury Lawyer Expertise - Best Car Accident Lawyers in Honolulu 2019 Expertise - Best Car Accident Lawyers in Honolulu 2019 Best Attorneys in America - Life Charter Member Best Attorneys in America - Life Charter Member


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Accident Attorney - Personal Injury Lawyer Hawaii

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