False Accounting: How Medical Malpractice Insurance Companies Inflate Losses to Justify Sudden Surges in Rates and Tort Reform
Harvey Rosenfield and Carmen Balber
In this study, the Foundation for Taxpayer and Consumer Rights (FTCR) reviews the loss projections of medical malpractice insurance companies, beginning with the 'insurance crisis' of the mid-1980s. The data show that medical malpractice insurers have historically inflated their loss projections and then revised their reported losses downward in...
38 Senators With Up to $13.4 Million in Pharmaceutical Stock Approve Drug Industry's Sweetheart Deal
CONTACT Carmen Balber - (310) 392-0522 ext. 324, or Jamie Court ext. 327
Santa Monica, CA -- 38 U.S. Senators with up to $13.4 million in pharmaceutical holdings increased the value of their stock portfolios last night when they approved an amendment to the defense appropriations bill that immunizes drug makers from accountability to the public when they sell dangerous drugs and other products. "When Senators can...
CONTACT CONTACT: Carmen Balber, (310) 392-0522, ext. 324
Consumer Advocates Demand Correction Santa Monica, CA -- The American Medical Association's campaign to enact malpractice damage caps and weaken insurance reform reached a new low in Washington, D.C. last week when an AMA lawyer lied to a legislative committee about California law. An AMA representative told a District of Columbia Council...
CONTACT Carmen Balber, (310) 392-0522 ext. 324 or Jamie Court ext. 327
New Details On HCA Insider Knowledge Emerge Santa Monica, California -- Senator Bill Frist, now subject to a formal investigation by the SEC for insider trading, made between $2 million and $6 million by selling his HCA holdings just before stock values plummeted in the face of a bad earnings report, according to an analysis released today by the...
SEC Chair Steps Aside, But Independent Observer Still Needed to Ensure Transparency In Frist HCA Stock Sale Investigation
CONTACT Carmen Balber (310) 392-0522 ext. 324
Santa Monica, California -- Securities and Exchange Commission (SEC) Chair Chris Cox's recusal from the investigation into Senator Bill Frist's stock trades highlights the need for Congress to appoint an independent observer to ensure a through, transparent inquiry of the sale, said the Foundation for Taxpayer and Consumer Rights (FTCR). FTCR sent...
CONTACT Carmen Balber (310) 392-0522 ext. 324 or Douglas Heller ext. 309
SEC & Dept. of Justice Open Investigation Into Possible Insider Trading Involving U.S. Senate Leader Santa Monica, CA -- Congressional leaders must appoint an independent observer who reports directly to Congress to ensure a through, transparent investigation of Senator Frist's HCA stock sale, currently under investigation by the Securities...
CONTACT Carmen Balber (310) 392-0522 ext. 324 or Jamie Court ext. 327
Santa Monica, CA -- The Securities and Exchange Commission should subpoena phone records and receipts to investigate possible insider trading activities between Senator Bill Frist and his brother, HCA Director Thomas Frist, Jr., said the nonprofit, nonpartisan Foundation for Taxpayer and Consumer Rights (FTCR) in a letter to the Commission...
CONTACT Carmen Balber - 310-392-0522 x324
Remaining Senators Must Follow Suit: Sell Hospital, Pharmaceutical, Insurance Stock Or Abstain From Votes Santa Monica, California -- After refusing for two years to admit a conflict of interest, Senator Bill Frist (R-TN) has now sold his $10 million to $30 million holdings in the Frist family-founded HCA hospital chain. The Foundation for...
Testimony before U.S. Congress of Jamie Court, Pres. of FTCR, on July 17, 2002.
Testimony before U.S. Congress of Jamie Court - President of FTCR, on July 17, 2002. In an age where expanding patients' rights has become a national demand, HR 4600 would dramatically contract patients' rights across the nation. This anti-consumer legislation will shield HMOs and providers they influence from legal accountability to the patient...
CONTACT Carmen Balber - 310-392-0522 x324
Group Says Time to Put Focus on Insurance Company Practices Santa Monica, CA -- The chief argument for legislation to limit the legal rights of patients injured by a physician -- that the number of medical malpractice claims and the cost of those claims have been skyrocketing -- is a fabrication, according to data in a newly released study by the...