Commissioner Jones Announces 2nd Medical Malpractice Rate Reduction for NORCAL
12/01/2012 // Hartford, CT, USA // cttriallawyers // Neil Ferstand // (press release)
California’s elected Insurance Commissioner saves doctors $52 million in premiums after a 2011 review of six malpractice companies finds insurers were charging excessive rates.
In 2011 California Insurance Commissioner Dave Jones ordered six California medical malpractice insurers to make rate filings in order to justify their current rates. After a thorough review by department actuaries rates were found to be excessive across the board and we’re ordered reduced by 7.1%. In addition NORCAL, one of the original 6 insurers, voluntarily reduced its rates another 6.9% in March of this year. Jones credited the 1988 Proposition 103 which authorizes the insurance Commissioner to reject excessive rate hikes for all types of property & casualty insurance including medical malpractice insurance.
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