Click here to close now.



Welcome!

News Feed Item

Insurance Companies Give $45 Million To Fight Proposition 46; Rake In Profits As New Ads Threaten Doctors and Patients With Price Hikes, Says Consumer Watchdog Campaign

SANTA MONICA, Calif., Aug. 19, 2014 /PRNewswire-USNewswire/ -- Medical malpractice and health insurance companies have given $45 million, or 77%, of the $58 million to the campaign against Proposition 46 as they rake in profits at the expense of doctor and patient policyholders, said Consumer Watchdog Campaign today.

The No on 46 campaign released its first ads this week, claiming Prop 46's legal protections for victims of medical negligence will raise doctors' malpractice insurance premiums and patients health care costs.

"The claim that insurance rates and health care costs will go up is preposterous in light of the malpractice insurance companies' industry-leading returns and regulation in California that has blocked some of the malpractice insurance industry's excessive profits, said Carmen Balber with Consumer Watchdog Campaign.  "When was the last time insurance companies spent $45 million to make sure their policyholders' premiums didn't rise?"

Proposition 46 will protect patient safety and save lives by indexing California's cap on medical negligence damages for 39 years of inflation, requiring physicians to undergo random drug and alcohol testing and mandating that physicians check the state prescription drug database before prescribing narcotics to first-time patients.

According to data from the California Department of Insurance, loss ratios of medical malpractice insurers are consistently lower than other kinds of insurance. In the last ten years, medical malpractice insurance loss ratios never topped 38%. In 2008, the loss ratio for California's medical malpractice insurers was merely 18% -- meaning just 18 cents of every premium dollar collected from California doctors was paid out in claims to injured patients. In comparison, other property and business insurance lines typically have loss ratios above 50%.

Proposition 103 regulates malpractice insurance rates in California, allowing the insurance commissioner and the public to challenge excessive rate increases. Since 2003, Consumer Watchdog has challenged and reduced $88 million in excessive malpractice rates. In 2012 alone, California's insurance commissioner ordered malpractice insurance companies to reduce excessive premiums by 25%, a $52 million reduction. In contrast, the California Medical Association has never once challenged a medical malpractice insurance company's excessive rates on behalf of its member doctors.

The insurance industry donors to No on 46 are:
Cooperative Of American Physicians -- $10,161,489
NORCAL Mutual Insurance Company -- $10,000,000
The Doctors Company -- $10,000,000
Medical Insurance Exchange Of California -- $7,500,000
Kaiser Foundation Health Plan, Inc. -- $5,000,000
The Dentist Insurance Company -- $1,620,000
The Mutual Risk Retention Group Inc. -- $1,000,000

Learn more about Proposition 46 and the campaign for patient safety at: www.yeson46.org

Paid for by Yes on Prop. 46, Your Neighbors for Patient Safety, a Coalition of Consumer Attorneys and Patient Safety Advocates - major funding by Consumer Attorneys of California Issues and Initiative Defense Political Action Committees and Robinson Calcagnie Robinson Shapiro Davis, Inc.

SOURCE Consumer Watchdog Campaign

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that Men & Mice, the leading global provider of DNS, DHCP and IP address management overlay solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. The Men & Mice Suite overlay solution is already known for its powerful application in heterogeneous operating environments, enabling enterprises to scale without fuss. Building on a solid range of diverse platform support,...
Father business cycles and digital consumers are forcing enterprises to respond faster to customer needs and competitive demands. Successful integration of DevOps and Agile development will be key for business success in today’s digital economy. In his session at DevOps Summit, Pradeep Prabhu, Co-Founder & CEO of Cloudmunch, covered the critical practices that enterprises should consider to seamlessly integrate Agile and DevOps processes, barriers to implementing this in the enterprise, and pr...
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
The principles behind DevOps are not new - for decades people have been automating system administration and decreasing the time to deploy apps and perform other management tasks. However, only recently did we see the tools and the will necessary to share the benefits and power of automation with a wider circle of people. In his session at DevOps Summit, Bernard Sanders, Chief Technology Officer at CloudBolt Software, explored the latest tools including Puppet, Chef, Docker, and CMPs needed to...
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
The cloud promises new levels of agility and cost-savings for Big Data, data warehousing and analytics. But it’s challenging to understand all the options – from IaaS and PaaS to newer services like HaaS (Hadoop as a Service) and BDaaS (Big Data as a Service). In her session at @BigDataExpo at @ThingsExpo, Hannah Smalltree, a director at Cazena, will provide an educational overview of emerging “as-a-service” options for Big Data in the cloud. This is critical background for IT and data profes...
SYS-CON Events announced today that VAI, a leading ERP software provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. VAI (Vormittag Associates, Inc.) is a leading independent mid-market ERP software developer renowned for its flexible solutions and ability to automate critical business functions for the distribution, manufacturing, specialty retail and service sectors. An IBM Premier Business Part...
One of the bewildering things about DevOps is integrating the massive toolchain including the dozens of new tools that seem to crop up every year. Part of DevOps is Continuous Delivery and having a complex toolchain can add additional integration and setup to your developer environment. In his session at @DevOpsSummit at 18th Cloud Expo, Miko Matsumura, Chief Marketing Officer of Gradle Inc., will discuss which tools to use in a developer stack, how to provision the toolchain to minimize onboa...
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
Fortunately, meaningful and tangible business cases for IoT are plentiful in a broad array of industries and vertical markets. These range from simple warranty cost reduction for capital intensive assets, to minimizing downtime for vital business tools, to creating feedback loops improving product design, to improving and enhancing enterprise customer experiences. All of these business cases, which will be briefly explored in this session, hinge on cost effectively extracting relevant data from ...
In most cases, it is convenient to have some human interaction with a web (micro-)service, no matter how small it is. A traditional approach would be to create an HTTP interface, where user requests will be dispatched and HTML/CSS pages must be served. This approach is indeed very traditional for a web site, but not really convenient for a web service, which is not intended to be good looking, 24x7 up and running and UX-optimized. Instead, talking to a web service in a chat-bot mode would be muc...
It's easy to assume that your app will run on a fast and reliable network. The reality for your app's users, though, is often a slow, unreliable network with spotty coverage. What happens when the network doesn't work, or when the device is in airplane mode? You get unhappy, frustrated users. An offline-first app is an app that works, without error, when there is no network connection.
SYS-CON Events announced today that Catchpoint Systems, Inc., a provider of innovative web and infrastructure monitoring solutions, has been named “Silver Sponsor” of SYS-CON's DevOps Summit at 18th Cloud Expo New York, which will take place June 7-9, 2016, at the Javits Center in New York City, NY. Catchpoint is a leading Digital Performance Analytics company that provides unparalleled insight into customer-critical services to help consistently deliver an amazing customer experience. Designed...
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts...
As someone who has been dedicated to automation and Application Release Automation (ARA) technology for almost six years now, one of the most common questions I get asked regards Platform-as-a-Service (PaaS). Specifically, people want to know whether release automation is still needed when a PaaS is in place, and why. Isn't that what a PaaS provides? A solution to the deployment and runtime challenges of an application? Why would anyone using a PaaS then need an automation engine with workflow ...