Jones May Use Power To Cut Malpractice Insurance Rates
California Insurance Commissioner Dave Jones (D) has called on six medical malpractice insurers to lower their rates following a 2009 analysis of annual insurance company reports. Jones' spokesperson Ioannis Kazanis said the analysis of 2009 data found red flags related to loss ratios, or the percentage of premiums insurers spend on claims. The Department of Insurance still needs to analyze the insurance companies' 2010 reports, as well as additional data. If the rates are determined to be excessive, it might be July before the insurers are able to complete a new rate filing, according to Joel Loucher, Jones' top aide for rate reductions. After the adjusted filings are vetted by DOI, insurers would have 90 days to implement the lower rates.
- "Decline in Medical Malpractice Insurance Rates on the Horizon" (Chaussee, Capitol Weekly, 3/3).