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Information is critical to anyone charged with risk management. Below is a listing of relevant, real time industry insights we have complied. Follow us to stay up to date on what we are reading and thinking.

Law Firms Rigged to Fail

Following the collapse of Dewey & LeBoeuf, an Atlantic Monthly article predicts that the partnership model of law firms is over.

Whether one believes that the partnership model is doomed to fail or not, most everyone agrees that the risks facing partners is increasing.  Calculated Risk Advisors is working with firms to secure comprehensive coverage for the defense of directors and officers if the firm runs into trouble.

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$6.4M Philadelphia Medical Malpractice Verdict

A Philadelphia jury awarded $6.4M in the death of a man who died from a heart attack. The man had seen the two physicians at Temple University Hospital with symptoms of heart trouble, the physicians were accused of not ordering the correct tests before releasing the patient – who died three months later of a heart attack.

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Wage and Hour lawsuits increase

A report in Fortune Magazine tells what the insurance industry has know for over a year, wage and hour lawsuits are rapidly increasing.

Calculated Risk Advisors is helping their clients navigate a fragmented Directors and Officers liability market and secure the coverages necessary to protect themselves in an uncertain environment.

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Wisconsin proposes raising compensation fund assessments

The Wisconsin Patient Compensation fund has proposed raising assessments 5% to boost reserves. The fund is required for most physicians and hospitals, it covers claims in excess of $1M. The 6/30/11 annual report showed $599M in discounted liabilities against $934M in assets. The state took $200M from the fund in 2007 but was forced to repay it in 2010.

Calculated Risk Advisors is working with clients to navigate the differing state laws reguarding compensation funds and find the most efficient way to comply.

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Cardiologists take contract dispute to court

Chicago has another example of a physician group getting into a wrongful termination lawsuit.

With healthcare consolidation speeding up and a push by healthcare systems to employ physicians, Calculated Risk Advisors is working with our healthcare clients to protect themselves in the case of allegations of wrongdoing.

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Malpractice Suits Dropping in PA

A study of court filings and plaintiff verdicts shows that both have dropped in the last ten years since Pennsylvania instituted reforms to cut down on the number of frivolous medical malpractice lawsuits. The study does not address any changes in the amount of verdicts or total payouts in the state.

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New York Hospitals hit with $120M verdict

A $120M verdict against three New York hospitals is the largest ever recorded in the state

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Bankruptcy Court rules MF Global can use D&O to pay for executives defense

A Bankruptcy court in Manhattan has ruled  that Jon Corzine could use the money available from a Directors and Officers policy for defense costs. The combined policy has a reported $250M of total coverage, $100M of Side A. Side A coverage is written explicitly for the individual officers and the court ruled it would not be tied up in the entity’s bankruptcy.

Calculated Risk Advisors is working with clients to insure that their company and it’s individual directors have access to a defense in the case of allegations of wrong doing.

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Jury awards $78.5M in PA Malpractice Case

A suburban Philadelphia jury has awarded $78.5M in damages to the mother of a brain damaged 3 year old. The facility is owned by Community Health Systems (CHS), a large operator of community hospitals.

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Reported healthcare data losses to exceed 20M records

The Department of Health and Human Services began to require healthcare providers to report losses of patient data to them in late 2009, it is reported that recent breaches will bring the total of reported records lost to over 20M in the near future. News reports show costs of a breach at a Boston area hospital have reached $750,000.

Calculated Risk Advisors is helping clients access the risk posed by changing privacy regulations and mitigate the potential for catastrophic financial and reputational losses.

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