GOVERNMENTNews in brief - April 24, 2006Mo. Senate passes bill requiring state OK of liability premium hikes Mo. Senate passes bill requiring state OK of liability premium hikesThe Missouri Senate in April approved a bill that would require medical liability insurers to get approval from the state Dept. of Insurance director before increasing rates. Companies would have to report data on premiums, losses and potential claims. The department would publish market rates for different risk categories. Insurers could not implement any rate increase without first providing 30-day notice. The department would have the authority to reject rates that are excessive or inadequate. The insurance industry heavily opposes the measure. But the Missouri State Medical Assn. strongly supports the legislation, said Tom Holloway, director of government relations. It would "require insurers to report detailed data, a lot of which is not reported now, that will enable physicians to make better educated decisions about their insurance policies," he said. A House vote was not scheduled as of press time. Copyright 2006 American Medical Association. All rights reserved. |
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