Farmers Insurance Group announced Wednesday that they sell more medical insurance found for an already tight market for physicians in some 18 countries it serves.
Farmers Insurance has suffered significant losses of insurance “and, more recently, plans to focus on its core tasks lines of the house, the economy, auto and life insurance,” said Jean Michael Levy, a spokesman for the insurance group.
Farmers stopped writing medical insurance art nouveau political errors Friday and plans to stop renewal on Jan 1, subject to approval by regulators of insurance in each state. The group liability insurance doctor has the right active policy with a value of $ 94.5 million - the highest down to $ 231 million in bonuses he had last year, said Levy.
In 2002, Farmers Insurance lost more than $ 100 million in its unfair trade policies, losses have been this year following a similar trend, “she said.
The domestic market for medical insurance received tablets found in December 2001, when St. Paul Cos. - then the second largest supplier - announced it would stop the policy in writing. Other smaller insurers have also dismantled or removed, unfair trade.
“There is a growing trend and pervasive,” said Steve Schneider, Vice President of the American Insurance Association. “We see no insurance, are very excited about medical insurance for misconduct.”
Approximately one third of farmers, lack of insurance premiums are in California, where he first with the policy of 49 years. But its greatest market share of almost 24% is in Hawaii, and insurance group has more than 10% market share of medical errors of art in Oregon, Idaho and Missouri, during the year past, “said Levy.
Farmers Insurance is in possession of the giant Swiss insurance, Zurich Financial Services, medical care and distributes shares recorded under various names, including Truck Insurance Exchange, Mid-Century Insurance and Farmers Insurance Texas.
The leaders of the insurance industry group were public meetings with regulators assurances in recent weeks to explain its decision to Drop Out of the art medical errors.
A letter delivered by hand Tuesday in Missouri, said medical insurance found the political division, on an annual basis, takes place in the next 15 months.
In Missouri - one of 19 countries cited by the American Medical Association, as a lack of assurance in a crisis - the loss of insurance for farmers is left only seven companies selling unfair policy.
“Of course, it is bad timing,” said the spokesman for the Missouri Insurance Department Randy McConnell, “because we are still trying, with a capacity problem. As long as you have enough companies competing in the market, you do must not compete on the basis of price. ”
Soon led higher premiums abuse attract doctors in their white coats by hundreds of rally this year twice the Missouri Capitol. But Dir Democrat Bob Holden to veto the legislation could, indicating that the proposed limits for the doctor’s responsibility to the right of appeal went too far and that all cases of injury.
Bills to limit damage awards of the art medical cases, mistakes have been taken into account in Congress and many other countries this year. You have the back cover of the American Medical Association.
John Nelson, Salt Lake City obstetrician and gynecologist, is president of the American Medical Association, said abandoned by doctors because insurers sometimes have problems when searching for new insurers. He said that doctors in High-Risk specialties are far from launch to see patients must increasingly difficult.
“We really requires patients who are not the care they need,” said Nelson.
Other countries Farmers Insurance Group includes Arizona, Colorado, Connecticut, Florida, Montana, North Carolina, Nevada, Ohio, Pennsylvania, Texas, Utah, Washington and Wyoming.
