Medical Malpractice Insurer Gives Back to its Policy Holders

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?