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February 06, 2012
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New Company Moves Toward Offering Malpractice Insurance In Wyoming

CHEYENNE, Wyo. - A third insurance company may soon begin offering medical malpractice liability coverage to doctors in Wyoming.

The Medical Protective Company, which offers medical malpractice insurance to physicians in several other states, has satisfied a preliminary requirement for marketing policies to Wyoming physicians by getting its rates approved by the state Department of Insurance.

Other insurers currently active in the Wyoming market include The Doctors Company and Utah Medical Insurance Association. The participation of The Medical Protective Company in the market will give doctors another alternative for medical malpractice insurance.

“Good news and bad news comes with this announcement,” Gov. Dave Freudenthal said. “The good news is that another company will begin offering coverage in the state, but the bad news is that the coverage comes with a significant price tag.”

Although The Medical Protective Company has filed rates with the Insurance Department in the past, those rates were not reflective of the Wyoming market. They were filed so that the company could continue to provide coverage to doctors who were already covered by the company in other states and who had moved into Wyoming from those states. Currently, The Medical Protective Company has very few medical malpractice policies in force in Wyoming.

The company’s present rate filing requested an overall rate increase of 45.1 percent from its prior filing. After review by the Insurance Department actuary, Wyoming Insurance Commissioner Ken Vines asked the company to reduce its request to an overall rate increase of 41.2 percent. The new filing will bring The Medical Protective Company’s rates more into line with other malpractice insurers already operating in the state.

According to Vines, The Medical Protective Company has been licensed to sell insurance in Wyoming since 1995, but has not actively marketed its products to the state’s doctors.

“With the approval of these new rates, it is my understanding that The Medical Protective Company intends to become more active in the Wyoming market,” Vines said.

Please contact us if anyone you know has suffered from debilitating injuries due to medical malpractice in Minneapolis.

 

 
Did You Know?    
 
 
Errors in hospital Emergency Rooms are a common occurrence
They are infrequently talked about and rarely reported to the media. That is why you don't hear about these types of cases on the news. Understaffed hospitals or ill-equipped emergency rooms may lead to fatal errors while dealing with patients requiring emergency treatment. When the necessary steps of treating an emergency room patient are sidestepped, then an emergency error may result.

 


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Medical Malpractice.com Terms

 


Today's Terms

Discovery

Definition:
The pre-trial process, such as a deposition, by which one party discovers the evidence that will be relied upon at trial by the opposing party.

Confidentiality

Definition:
The principle that prohibits physicians from disclosing confidential comments made to them by patients unless required to do so by law. The law may require physicians to violate patient confidentiality if the patient poses a serious threat to his or her own health and the well-being or that of others.

Causalgia

Definition:
Pain, usually burning, that is associated with autonomic changes -- change in color of the skin, change in temperature, change in sweating, swelling. Causalgia occurs after a nerve injury.

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