Max Kennerly has done it again. Read this post on the Litigation and Trial bog which looks behind the allegation that the American people support medical malpractice reform. Before you do, read the following: DO YOU AGREE OR DISAGREE WITH THIS STATEMENT: As part of any health care reform plan, Congress needs…
I have released three prior posts on the financial condition of State Volunteer Mutual Insurance Company – click here to read them: Part 1, Part 2, Part 3. The bottom line is that conservative financial management at SVMIC has permitted the company to accumulate a quarter of a billion dollars…
This is the third post about State Volunteer Mutual Insurance Company’s 2008 financial results. Click on the links to see Part 1 and Part 2. New malpractice claims asserted against SVMIC insureds dropped 2.5% in 2008. The company reports that 83% of all cases were resolved in favor of it’s policyholders…
Our last post discussed State Volunteer Mutual Insurance Company’s $251,321,000 policyholder surplus. This post will discuss other aspects of the company’s finances. As of December 31, 2008, SVMIC had total assets of $1,324,500,000 assets. (That’s $1.3 Billion). The vast majority of those assets are in government (federal, state and local) and corporate bonds,…
SVMIC continues to enjoy wonderful profitability, even as the number of physicians it insures declines. SVMIC – State Volunteer Mutual Insurance Company – is a physician-owned insurance company that was created over 30 years ago. It has grown from a company with paid-in capital of $7,500,000 to a entity with…
Torts Prof lets us know that the elected representatives in Arizona believe that ER doctors should not be held responsible for their negligence unless the patient can prove his case by clear and convincing evidence.
Maxwell Kennerly’s Litigation and Trial blog is a must-read for lawyers who practice civil litigation of almost any type. His posts are timely, thoughtful, and relevant. Take this post, "’How Other Countries Judge [Medical] Malpractice,’" By A Law Professor Who Doesn’t Know Medical Malpractice Law", in which Maxwell appropriately blasts an…
"Malpractice Lawsuits Are ‘Red Herring’ in Obama Health Plan" is the title of this article from Bloomberg. Am excerpt: While Obama vowed to address physicians’ malpractice worries in a speech yesterday, the annual jury awards and legal settlements involving doctors amounts to “a drop in the bucket” in a country…
Walter Olson at Point of Law shares a study from the Pacific Research Institute on the effect of various tort reforms. The study, was authored by Nicole V. Crain, W. Mark Crain, Lawrence J. McQuillan, and Hovannes Abramyan, and is titled "Tort Law Tally: How State Tort reforms affect Tort…
The requirement of pre-notice and a certificate of good faith (T.C.A. Sec. 29-26-121 and 122) has had a significant effect on filings of medical malpractice cases. From October 1, 2008 (when the new law came into effect) until April 30, 2009 there were only 111 medical malpractice cases filed in…