Wisconsin Seeks To Restore Medical Malpractice Caps

October 28, 2005
Advisen -- Medical Malpractice
Source: Congress Daily

"Wisconsin moved a step closer toward restoring caps on non-economic damages paid to medical malpractice victims with last week's passage of a measure establishing new limits, the Milwaukee Journal Sentinel reported..."

TRIA gets welcome boost

October 28, 2005
Advisen -- Insurers
Source: Business Insurance

"SUPPORTERS OF AN EXTENSION of the Terrorism Risk Insurance Act received what could be some welcome news last week..."

NAMIC: Don’t Hike Terror Deductible

By Arthur D. Postal
National Underwriter P&C
NU Online News Service, Oct. 28, 3:56 p.m. EDT

"Washington—The National Association of Mutual Insurance is telling key Senate members that in the event of a terrorist attack most insurers will be in financial jeopardy should they set too high a threshold for federal support to kick in..."

Troxel Leaves As CPCU Institute CEO

NU Online News Service, Oct.28, 2:52 p.m. EDT
National Underwriter P&C

"Terrie E. Troxel, president and chief executive officer of the American Institute for CPCU and the Insurance Institute of America, announced that after seven years in his post he will resign on Monday..."

Oxley Commits To TRIA Extension

By Caroline McDonald
National Underwriter P&C
NU Online News Service, Oct. 28, 9:12 a.m. EDT

"Congress would be doing the nation an economic injustice if it fails to renew an federal backstop for terrorism insurance, Rep. Michael G. Oxley, R-Ohio, told an insurance industry meeting this week..."

Defense Lawyers Call for TRIA Extension

October 28, 2005
The Insurance Journal

"DRI, the nation's largest defense bar organization, is calling upon the Senate Banking Committee and the House Financial Services Committee to act immediately to place the question of extension of the Terrorism Risk Insurance Act of 2002 ("TRIA") before the Congress in the next 40 days..."

Actuarial Profession Denounces Medical Malpractice Study

October 26, 2005
PRNewswire

"American Academy of Actuaries Finds Consumer Group Study 'Unsound and Misleading'"

"ROCKVILLE, Md., Oct. 26 /PRNewswire/ -- In an unprecedented move, the American Academy of Actuaries (AAA) has openly denounced a July 2005 study completed by Jay Angoff and commissioned by the Center for Justice & Democracy (CJD) as 'incomplete, actuarially unsound, and misleading.'..."

MTBC Announces the First Annual New Jersey Medical Malpractice Forum

October 26, 2005
Business Wire

"SOMERSET, N.J.--(BUSINESS WIRE)--Oct. 26, 2005--Medical Transcription Billing, Corp. (MTBC), the 4% medical billing and free EMR company, together with Commerce Bank, the region's fastest growing financial services organization, and NJPure, the not-for profit New Jersey medical malpractice insurer, sponsor the First Annual New Jersey Medical Malpractice Forum..."

Mo. Med-Mal Awards Up in 2004

October 26, 2005
The Insurance Journal

"The average award per medical malpractice insurance claim in Missouri rose in 2004, but payments by hospitals declined, according to a newly released 2004 Missouri Medical Malpractice Insurance report..."

Wis. Assembly OKs Med-Mal Caps

October 26, 2005
The Insurance Journal

"The Wisconsin State Assembly today passed a bill to reinstate caps on medical malpractice awards in the state by a more than two-to-one margin..."

Congratulations to the 2005 World Series Champion White Sox!!

 

Alternative TRIA Approach Pitched

"Congress awaits draft of legislation to segregate terrorism exposures"

Washington
By Arthur D. Postal
National Underwriter P&C

"Republican staffers on the House Financial Services Committee are drafting legislation that would take an entirely new approach to extending the Terrorism Risk Insurance Act, creating a “silo” system that would base a federal backstop on the insurability of the risk. The new concept is totally different than extension guidelines suggested by the Bush administration and draft legislation prepared by the committee some months ago..."

Assembly passes measure to restore malpractice caps

"Senate action awaited; Democrats, Doyle have concerns about bill"

St. Paul Pioneer Press
By JR Ross, Associated Press

"MADISON, Wis. — The Assembly voted Tuesday to restore limits on how much plaintiffs can receive in medical malpractice lawsuits for things like pain and suffering, after the Supreme Court earlier this year threw out the old caps..."

Forward Janesville supports measures

(Published Tuesday, October 25, 2005 11:32:33 AM CDT)
Gazette Staff
The Janesville Gazette

"Forward Janesville's board of directors has voted to support two measures that would overturn recent decisions by the Wisconsin Supreme Court..."

State makes first malpractice insurance subsidy payments

October 25, 2005, 5:28 PM EDT
www.NEWSDAY.com
AP New Jersey

"TRENTON, N.J. -- The first state subsidies to help doctors worst hit by rising medical malpractice premiums are being distributed, the New Jersey Department of Banking and Insurance said Monday..."

Feds Need To Push Financial Incentives, Standards, Security For Nationwide Health-Care IT To Take Off, Says Report

October 26, 2005
Advisen -- Medical Malpractice
Source: TechwebNews.com

"A federal advisory panel on Wednesday issued a 14-point report of recommendations for what's needed to develop, implement, and foster the secure nationwide exchange of electronic medical information..."

AVRECO Announces Expansion Plans

October 25, 2005
The Insurance Journal

"AVRECO, a member of The Park Group with offices in Chicago, New York, Philadelphia, London, and Bermuda, has named Greg Schrom vice president responsible for the development of all lines of business in California and the Southwest market,. Schrom has the specific objective of opening an AVRECO office in San Diego and will initially focus on brokering medical and non-medical professional liability and using his binding authority for small package business..."

Best Practices Report Outlines Tips for Effective Use of Agency Technology

October 25, 2005
The Insurance Journal

"The Agents Council for Technology (ACT) has compiled a series of best practices to help carriers, vendors, user groups and agent associations convince independent agencies and brokers to implement new workflows and technologies, and to assist them with training..."

Medical Malpractice Measure Debated in Washington

October 25, 2005
The Insurance Journal

"Washingtonians are debating a measure that seeks to lower liability costs and could drastically affect the state's medical community. I-336 is on the state's November ballot and would establish a supplemental malpractice insurance fund, as well as mandate public hearings before malpractice insurance rate increases, if passed..."

A.M. Best Comments on Potential Impact of Hurricane Wilma on the Property/Casualty Insurance Industry

October 24, 2005
Advisen -- Insurance Market
Source: Bestwire Service

"OLDWICK, N.J. (BestWire) - With Hurricane Wilma making landfall in Southern Florida, A.M. Best Co. has begun to assess the potential financial impact an event of this magnitude may have on the property/casualty and reinsurance industry..."

RAND Study Supports TRIA Renewal

October 25, 2005
The Insurance Journal

"A new report from the RAND Corporation indicates that the Terrorism Risk Insurance Act (TRIA), which will expire in December unless extended by Congress, 'creates an effective mechanism for sharing the financial risk that businesses face from terrorism...'"

Pa. Governor Hails Improvements in Med-Mal Insurance Market

October 24, 2005
The Insurance Journal

"Pennsylvania Governor Edward Rendell said that his state has turned the corner on improving its medical malpractice insurance market thanks in part to recent legislative and court reforms and he urged legislators to continue a premium abatement program for another two years to give the reforms time to take full effect..."

GOP: Segregate Risks For TRIA Extension

By Arthur D. Postal
National Underwriter P&C
NU Online News Service, Oct. 20, 3:00 p.m. EDT

"Washington—Republican staff on the House Financial Services Committee are drafting legislation to extend the Terrorism Risk Insurance Act, with a system basing federal backstop amounts on the insurability of each risk..."

GOP Wary Over Florida Dems’ CAT Plan

By Matthew Brady
National Underwriter P&C
NU Online News Service, Oct.10, 3:00 p.m. EDT

"A restructuring of Florida's Hurricane Catastrophe Fund proposed by Democrats in the state's House of Representatives may be too broad in scope to win support from across the aisle..."

ProBuilders

October 21, 2005
Author: AVRECO News
ProgramBusiness

"Storefront Owner AVRECO announces its newest market for Contractors, ProBuilders Specialty Insurance Company, RRG, targeting the Midwest and Eastern US..."

New Healthcare Exec

October 21, 2005
Author: AVRECO News
ProgramBusiness

"Storefront owner AVRECO would like to extend a warm welcome to the newest addition to our Healthcare staff, Charles Becker, assistant vice-president at AVRECO's Chicago location..."

AVRECO Adds Becker to Staff

October 20, 2005
The Insurance Journal

"Wholesaler AVRECO has added Charles Becker as assistant vice president on its health care staff at its Chicago location. Becker is responsible for the marketing and sales of AVRECO's specialty health care products..."

White Sox extend thanks to fans

Chicago White Sox News
October 17, 2005

Congratulations to our Chicago White Sox, the 2005 American League Champions!!

Lloyd's Note on Prettejohn

October 18, 2005
The Insurance Journal

"In a brief announcement Lloyd's acknowledged the announcement by the U.K.'s Prudential Plc that CEO Nick Prettejohn will leave his post at the end of the year to become chief executive of the company's U.K. insurance operations (See IJ Website Oct. 17)..."

Buyers Called To Action For TRIA

By Caroline McDonald
National Underwriter P&C
NU Online News Service, Oct. 12, 4:19 p.m. EDT

"New York—Representatives of a major brokerage a brokers’ association and an insurer appealed to corporate insurance buyers to involve themselves in the campaign for extension of the Terrorist Risk Insurance Act (TRIA)..."

‘Risk Managers’ Beat Policy Peddlers

"NU ‘Agencies Of The Year’ analyze threats, identify opportunities ahead"

By Sam Friedman
National Underwriter P&C

"What are the critical challenges facing independent agents today? Producers large and small, as always, are caught in the middle between the demands of buyers and insurers on a host of key issues, including the softening market, recent damage to the industry’s reputation, and calls for more products and services at lower overall costs. To help make sense of lingering and emerging trends, National Underwriter assembled a panel representing five of the most innovative independent agencies in the country..."

Flood Exclusion Puts Insurers In Middle Of Political Firestorm

"Litigators, lawmakers seek to bail out those without coverage"

Washington
By Arthur D. Postal
National Underwriter P&C

"Passage of legislation to ease the turmoil created by the lack of flood insurance on Gulf Coast homes heavily damaged by recent hurricanes will be a long shot this year because of the huge gap between proposals advanced by the rival political parties in Congress..."

Industry To Hear Aon Terror Re Plan

NU Online News Service, Oct. 6, 3:20 p.m. EDT
National Underwriter P&C

"A major brokerage group said it will offer a proposal for a terrorism reinsurance facility to an insurance industry meeting on terrorism tomorrow in Washington..."

D&O Market Continues to Soften

NU Online News Service, Oct. 5, 1:05 p.m. EDT
National Underwriter P&C

"Buyers of directors and officers insurance continue to see price breaks from non-U.S. insurers, according to a Willis survey..."

Democrats Unveil Medical Malpractice Proposal

By Julie Rovner
Medscape from WebMD
Source: Reuters Health Information

"WASHINGTON (Reuters Health) Sept 28 - Stepping onto turf that has largely been occupied by Republicans in the U.S. Congress, two prominent Democrats Wednesday unveiled a measure they said they hope can break the stalemate over how to address spiraling medical malpractice premiums..."

U.S. Regulators May Switch Stance on Alien Reinsurer Collateral Requirements

October 4, 2005
Advisen -- Regulation
Source: BestWire Services

"Taking a cue from recent action by the European Union, U.S. regulators, long resistant to the notion, are set to consider easing collateralization requirements for alien reinsurers..."

PIAA Slams CJD MedMal Report

By Steve Tuckey
National Underwriter P&C
NU Online News Service, Oct. 3, 11:30 a.m. EDT

"Independent actuaries have taken issue with a recent consumer group report charging that medical malpractice insurers have accumulated unreasonable surpluses over the past few years..."

Will DeLay Political Woes Boost Extension Of TRIA?

"CIAB memo cites indicted majority leader as ‘major obstacle’ on terrorism bill"

Washington
National Underwriter P&C
By Arthur D. Postal

"The legal problems of Rep. Tom “The Hammer” DeLay, R-Texas—forced to step aside as House Majority Leader last week after being charged with campaign finance violations—has given the property-casualty industry newfound optimism that a reasonable facsimile of the current Terrorism Risk Insurance Act can be sustained beyond its Dec. 31 expiration date..."