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Medical Malpractice Insurer Gives Back to its Policy Holders

Posted by Andrew J. Barovick | Feb 21, 2009 | 0 Comments

According to North Carolina's The News & Observer , Medical Mutual Insurance Company, the state's largest medical malpractice insurer, is distributing $6.25 million dollars to its policy holders.  One reason it was able to do so is its smart money management, which resulted in the paying off of $10 million dollars of debt last year.  Another is that the number of lawsuits filed against its insureds has decreased, a development that the company's CEO links in part to the advent of electronic medical records, the benefits of which include not having to attempt to decipher barely legible, but crucially important notes made by healthcare providers.

Medical Mutual's policy holders will also enjoy another benefit this year, as they have for the past three: no increase in premiums.

How does North Carolina's Medical Mutual Insurance Company do it?  Isn't it time that the bloated, poorly- managed insurers in the Northeast devoted some time and effort to finding out, instead of continuing with the Chicken Little charade (i.e., “Help! Help! The sky is falling due to the medical malpractice crisis!”) in their transparent attempt to lay the blame for their empty coffers anywhere but at their own feet?

About the Author

Andrew J. Barovick

Mr. Barovick is a graduate of Columbia College and Cardozo School of Law. He began his legal career at the Queens District Attorney’s Office, where he tried over 20 felonies to verdict, and argued an equal number of appeals before the Appellate Division, Second Department, the New York Court of Appeals and the United States Court of Appeals for the Second Circuit.

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REPRESENTATIVE VERDICTS & SETTLEMENTS:

$7.9 million dollars for infant client who suffered severe brain injuries due to post- delivery medical malpractice.

$500,000 wrongful death/medical malpractice settlement on behalf of patient brought to hospital emergency room with serious injuries who suffered complications while unmonitored and died.

$425,000 wrongful death/medical malpractice settlement during trial on behalf of senior hospital patient whose surgeon failed to timely address her worsening symptoms, resulting in her death.

$250,000 to young man whose physician failed to diagnose an impending torsion testicle, causing the loss of the affected testicle.

$200,000 to young mother whose OB/GYN failed to timely diagnose and treat her ectopic pregnancy, resulting in excruciating, long-term pain and the need for surgery to address the ectopic pregnancy once it was diagnosed.

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