Bu Matt Gracey They are called “shock losses” but industry experts are no longer shocked, but rather in a state that I would best describe as numb. Juries around the country are awarding mind blowing amounts to patients suing their doctors in medical malpractice cases. Lawsuits that end in awards over $10,000,000 against doctors are
By Tom Murphy Confusion can reign when it involves employers trying to determine if something falls under their workers’ compensation coverage or their employer liability coverage. The fact is, many employers/medical practices do not even carry employer liability insurance, otherwise known as EPLI. In Florida, any non-construction employer with four (4) or more employees is
By Tom Murphy As we prepare for the mass migration of workers’ comp professionals to the annual WCI meeting in Orlando this August, we want to provide a brief update on the current state of workers’ compensation in Florida. The Florida Department of Insurance, at the recommendation of the National Council on Compensation Insurance (NCCI),
In the wake of the March 13, 2014 Florida Supreme Court ruling that a 2003 law limiting damages in medical-malpractice cases was deemed unconstitutional, a more difficult, “hard market” was predicted to hit Florida’s malpractice insurance market soon. Much like the dark storms on the horizon indicating a coming storm, we are starting to see
By Tom Murphy For the second time in six months, the Office of Insurance Regulation (OIR) has approved a rate decrease that will affect all Florida businesses. Insurance Commissioner David Altmaier’s statement attributes the 1.8% overall decrease to the recent federal Tax Cuts and Jobs Act. The new rates will take effect for all new
As featured in the South Florida Hospital News and Healthcare Report, March 2018 By Daniel Casciato One of the biggest medical malpractice changes South Florida healthcare providers need to be mindful of this year is last year’s decision by the Florida Supreme Court to strike down malpractice damage caps. In June 2017, the high court
Q: We keep hearing that a medical malpractice insurance hard market is coming in Florida. What does this really mean and when should we be concerned? A: The market cycle for malpractice insurance in Florida has fairly predictable cycles, with extreme fluctuations in pricing and insurers’ underwriting. For example, the late 1990s and early 2000s were
On September 12, 2016, Danna-Gracey CEO Matt Gracey received the Buchman Award for extraordinary achievement in the healthcare liability industry. This annual award is present to a partner who makes a significant positive contribution to the field and embodies the spirit of MedPro’s core values. Matt’s contributions include the development of a unique business strategy
It appears that the 2017 tax year is going to be exactly like 2016’s, if not worse, with cyberattacks targeting small to medium-size organizations. Here is how the extremely simple process works: An HR department or their Payroll staff receives an email that appears to come from their CEO or CFO, requesting a digital copy
As all Florida businesses large and small come to the realization that their workers’ compensation premium has increased almost 15% as of December 1st, 2016, most of them are completely unaware that this increase is only the beginning of additional increases if the Florida legislature does not take action this session to alleviate the effects of