Little Rock, Arkansas, April 26, 2012: Arkansas Mutual Insurance Company has earned a Financial Stability Rates ® (FSR) of A, Exceptional from Demotech, Inc. This level of FSR is assigned to insurers who possess unsurpassed financial stability related to maintaining positive surplus as regards policyholders, liquidity of invested assets, an acceptable level of financial leverage, reasonable loss and loss adjustment expense reserves (L&LAE) and realistic pricing.
Source: The Associated Press 4/18/12
By Bob Salsberg
BOSTON—It may become easier in the future for Massachusetts doctors to apologize for mistakes if an experiment by three major hospitals to reduce medical malpractice lawsuits succeeds.
The program, called Disclosure, Apology and Offer, targets “defensive medicine” — a term describing often unnecessary or excessive tests and procedures ordered by doctors wary of being sued by their patients. Many experts consider defensive medicine to be among the top drivers of soaring health care costs nationwide.
An Arkansas judge on Wednesday fined Johnson & Johnson and a subsidiary more than $1.1 billion after a jury found that the companies downplayed and hid risks associated with taking the antipsychotic drug Risperdal.
Judge Tim Fox determined that Johnson & Johnson and its subsidiary, Janssen Pharmaceuticals Inc., committed nearly 240,000 violations of the state’s Medicaid fraud law or one for each Risperdal prescription issued to state Medicaid patients over a 3½-year period. Each violation carried a $5,000 fine, the state’s mandatory minimum amount, bringing the total to more than $1.1 billion.