Cost of liability depends on how you count

Article Abstract:

Medical organizations argue whether physician's liability makes up an important factor in raising the cost of health care. Many advocate tort reform, including limits on awards for pain and suffering. However, a report by the Congressional Budget Office claims that liability represents only 1% of health care costs. The AMA calculates that in 1989 physicians spent $5.6 billion on premiums plus an additional $15.1 billion on so-called defensive medicine, procedures that would be unnecessary except to protect against lawsuits.

Insurance agents, brokers, & service, Analysis, Economic aspects, Medical care, Cost of, Health care costs

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Competition causes shift among doctor insurers

Article Abstract:

Physician-owned liability insurers are competing with each other across state lines for the first time. Market instability in the 1970s drove many commercial insurers out of the market, and insurers associated with medical societies filled the gap. By 1992 a high number of insurers were competing for business. This competition may improve service and lower premiums or force some companies out of business, after which rates may be raised.

Insurance industry, Market share, Liability insurance

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Liability rates: mixed signals

Article Abstract:

St. Paul Fire and Marine Insurance Co, the largest US provider of medical malpractice insurance, has not raised rates in the past 30 months and does not expect to raise them in 1995. However, physician-owned insurers in California and Illinois have announced large increases, although tort reform in California is stabilizing rates. Claims data are analyzed to ascertain the reasons behind rate decisions.

Direct Property and Casualty Insurance Carriers, Offices & clinics of medical doctors, Physicians & Surgeons, Offices of Physicians (except Mental Health Specialists), Malpractice Insurance, Prices and rates, St. Paul Fire and Marine Insurance Co.

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