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The New DU. Reply #98: Or also the failure of the insurance company's investment strategies...
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trotsky
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Wed Dec-29-04 02:35 PM
Response to Reply #45 |
| 98. Or also the failure of the insurance company's investment strategies... |
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http://www.cbsnews.com/stories/2004/04/02/eveningnews/consumer/main610102.shtmlClaybrook insists the rate hikes aren't about lawsuits but about the insurance industry making up for investment losses. Investments are their main source of income.
In fact, from 2001 to 2002 when many OB-GYNs saw their rates double, malpractice payouts to victims were actually on the decline.
But insurance companies were losing big on their investments.
"The insurance company does not want to explain how they set their premiums, so they divert public attention and blame it all on people who are injured and their lawyers," says Claybrook.
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