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News Reports on Large Healthcare Losses

A Hiscox Press Release on “Super Losses”  in the Healthcare Industry has been circulating and is being cited by many media sources.

We’ve added links to their list with relevant information on the cases (many of which will be reduced on appeal or had high/lows in place).

Date State Award  
March 2010 New York $60.9m Negligence at birth
July 2010 California $670m Inadequate staffing at assisted-living facilities
July 2010 Florida $114m Wrongful death suit against a nursing home
May 2011 Connecticut $58.6m Negligence at birth
August 2011 West Virginia $91.5m Nursing home negligence
October 2011 Michigan $144m Negligence at birth
January 2012 Florida $168m Brain damage following surgery

N0t listed is the recent $900M judgement against a bankrupt Florida nursing home.

These recent verdicts are knocks to the industry who had stabilized verdict amounts in recent years, largely due to the change in heart about trying cases. These verdicts make insurance carriers much less likely to take a case to court and risk a bad faith claim. It also sets a new standard for ambitious plaintiff attorneys. Calculated Risk Advisors has developed a number of new strategies for clients to protect themselves against “Super Losses” in this changing litigation environment.

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