Selecting an attorney for legal cases is a very important decision. Please enter your information below to receive a Free Consultation from an attorney in your area:
Medical
Malpractice News
New Company Moves Toward Offering Malpractice Insurance In Wyoming
CHEYENNE, Wyo. - A third insurance company may soon begin offering medical malpractice liability coverage to doctors in Wyoming.
The Medical Protective Company, which offers medical malpractice insurance to physicians in several other states, has satisfied a preliminary requirement for marketing policies to Wyoming physicians by getting its rates approved by the state Department of Insurance.
Other insurers currently active in the Wyoming market include The Doctors Company and Utah Medical Insurance Association. The participation of The Medical Protective Company in the market will give doctors another alternative for medical malpractice insurance.
“Good news and bad news comes with this announcement,” Gov. Dave Freudenthal said. “The good news is that another company will begin offering coverage in the state, but the bad news is that the coverage comes with a significant price tag.”
Although The Medical Protective Company has filed rates with the Insurance Department in the past, those rates were not reflective of the Wyoming market. They were filed so that the company could continue to provide coverage to doctors who were already covered by the company in other states and who had moved into Wyoming from those states. Currently, The Medical Protective Company has very few medical malpractice policies in force in Wyoming.
The company’s present rate filing requested an overall rate increase of 45.1 percent from its prior filing. After review by the Insurance Department actuary, Wyoming Insurance Commissioner Ken Vines asked the company to reduce its request to an overall rate increase of 41.2 percent. The new filing will bring The Medical Protective Company’s rates more into line with other malpractice insurers already operating in the state.
According to Vines, The Medical Protective Company has been licensed to sell insurance in Wyoming since 1995, but has not actively marketed its products to the state’s doctors.
“With the approval of these new rates, it is my understanding that The Medical Protective Company intends to become more active in the Wyoming market,” Vines said.
Drug-switching practices happen and are very dangerous
Another public-spirited drug giant, Merck, was forced to pay a settlement of $1.9 million to 17 states in 1995 for drug-switching practices involving its Medco subsidiary. Medco pharmacists, who had given excessively favorable treatment to Merck products, were thereafter required to reveal their Merck connection to their customers.
Newsroom
News about Medical Malpractice cases in Iowa and nationwide:
Definition:
Spinal cord abscess is a disorder characterized by inflammation and a collection of infected material (pus) around the spinal cord.
Confidentiality
Definition:
The principle that prohibits physicians from disclosing confidential comments made to them by patients unless required to do so by law. The law may require physicians to violate patient confidentiality if the patient poses a serious threat to his or her own health and the well-being or that of others.
Punitive damages
Definition:
Damages awarded in addition to compensatory (economic and noneconomic) damages to punish a defendant for willful and wanton conduct.
Legal Disclaimers All attorney listings are a paid attorney advertisement, and do not in any way constitute a referral or endorsement by an approved or authorized lawyer referral service. The information provided on Medical Malpractice Iowa.com is not intended to be legal advice, but merely conveys
general information related to legal issues commonly encountered. Your access
to and use of this website is subject to additional Terms
and Conditions.
Local Professional? Generate new business today
Call 866-227-9356 or contact a sales rep
Did You Know?