Friday Oct 16,2009
Comment: The Tort reform we keep hearing about which is touted as a cure for exorbitant payouts for medical malpractice. A situation which can cause out of sight insurance premiums and evidence of defensive medical practices to avoid possible lawsuits. There are also those who say that insurance companies take advantage of this and raise premiums to ridiculous heights. Not so says the PIAA
Excerpts from Rueters Article
Physician Insurers Association of America (PIAA) Issues Statement Regarding Senate Judiciary Committee Hearing on Antitrust Exemption for Insurance Companies
"The Judiciary Committee`s hearing appeared to be an attempt to deflect
attention from much-needed federal medical liability reform, by blaming health
industry insurers for rising prices due to market conduct abuses. This simply
does not happen in the medical liability industry, which is highly regulated and
subject to continuous state-based oversight. While we agree with the overall
theme of the bill-to prohibit market abuses-the vagueness of the language of the
bill make interpretation of its effects impossible. Senator Leahy should
completely re-write the bill, garnering industry input, if he truly wants to
avoid unintended consequences, which would undermine competition and harm
consumers."
"Unlike other lines of insurance, medical liability coverage for doctors is
primarily provided by physician-owned and operated mutual and reciprocal
companies, which have no incentive to price gouge."
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