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MedPro Group traces its roots back to a predecessor company, the Physicians’ Guarantee Company. Alpheus P. Buchman, MD and Miles F. Porter, MD, both of Fort Wayne, Indiana, formed the Physicians' Guarantee Company in 1899 to provide pre-paid legal service for medical malpractice lawsuits. [1]
The Doctors Company claims to be the largest physician-owned medical malpractice insurer in the U.S., with 80,000 insureds nationwide, $6.2 billion in assets, $2.3 billion in member surplus, and a financial strength rating of A from A. M. Best and Fitch Ratings in fiscal year 2020.
From 2013 to 2023, the American court system saw a roughly 67% increase in the number of medical malpractice verdicts awarding $10 million or more.
The two were consolidated by Section 6403 of the Affordable Care Act of 2010, Public Law 111–148. In enacting, the National Practitioner Data Bank-enabling legislation, the Health Care Quality Improvement Act of 1986, Congress intended for physicians to receive "full due process rights with notice and representation".
You're not feeling well, but you don't want to see your doctor, you have to take time off work, travel some distance, or subject yourself to a test, ...
A 2006 PriceWaterhouseCoopers report for America's Health Insurance Plans (a health-insurer trade association) used the 2 percent figure and an extrapolation from the Kessler and McClellan report to estimate that the combined cost of insurance and defensive medicine accounts for 10 percent of total health care costs in the U.S. [51]
Opinion: Four factors are key to what's been happening, writes Grinnell Mutual's Jeff Menary: inflation, social inflation, weather and reinsurance.
Professional liability insurance (PLI), also called professional indemnity insurance (PII) and commonly known as errors & omissions (E&O) in the US, is a form of liability insurance which helps protect professional advising, consulting, and service-providing individuals and companies from bearing the full cost of defending against a negligence ...
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