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Re: FRI: Another frivolous lawsuit! From: anon (anonymous@medispecialty.com) Thu Jul 17 12:50:01 2003 Messages sorted by: [ date ][ thread ][ subject ][ author ] Next message: Terrence.Jones@kp.org: "Re: OB:   Bladder Flap" Previous message: Braun, R. Daniel: "Re: Cytotec and postpartum hemorrhage" In reply to: Marilyn Ringstaff: "Re: FRI: Another frivolous lawsuit!" Next in thread: Glen Elrod MD: "Re: FRI: Another frivolous lawsuit!" At Thu, 17 Jul 2003, Marilyn Ringstaff wrote: > ><<I'm confident that caps are not going to be the only solution to our >crisis,>> > >you think maybe regulation of the insurance industry might be in order? >They already ARE regulated. Insurers increase reserves for future lottery payouts to lawyers and their (not always) greedy clients. As for St. Paul, they have always been, and continue to be, incompetent in all their lines of business, not just medmal. Just how those small insurers interpreted St. Paul's reserve takedown several years ago as record profits and then entered the market in droves mystifies me. Any good insurer knows that chasing market share results in disaster. Regulators cannot always prevent stupidity and sometimes financial analysts overlook danger signals. >WEISS RATINGS: >INSURERS UP CLAIM RESERVES BY $22 BILLION > >To potentially explain why premiums are increasing, >Palm Beach Gardens-based Weiss Ratings said the >nation's property and casualty insurers increased >reserves for prior-year paid and unpaid claims by >$22.1 billion in 2002, on top of an $11.7 billion >increase in 2001. The financial ratings and >analysis firm said the increase, which it >described as the largest reserve adjustment by >property and casualty insurers since Weiss Ratings >began analyzing the industry, reflects the >companies' failure to adequately estimate losses. >South Florida Business Journal, 07/01/2003 > ># # # # # # # # # # # # # # # # # # # # > >LAWSUIT ALLEGES MISDEALINGS BY MALPRACTICE GIANT > >A handful of executives at what was then the >nation's biggest medical malpractice insurer >reaped more than $45 million in bonuses, salaries >and stock options from a business strategy that >cost more than 40,000 U.S. doctors their coverage, >a recently unsealed West Virginia lawsuit alleges. >The would-be class action filed in Kanawha County >Circuit Court against the insurer, St. Paul, links >a series of dealings by its top executives to its >2001 decision to abandon the doctors it insured, >including more than 1,000 in West Virginia. > >Wheeling News Register, 07/08/2003 > >-- >Marilyn Ringstaff, CNM > Next message: Terrence.Jones@kp.org: "Re: OB:   Bladder Flap" Previous message: Braun, R. Daniel: "Re: Cytotec and postpartum hemorrhage" In reply to: Marilyn Ringstaff: "Re: FRI: Another frivolous lawsuit!" Next in thread: Glen Elrod MD: "Re: FRI: Another frivolous lawsuit!"

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