"In hindsight, rates probably should have gone up about 10 percent a year over the past seven or eight years, and they didn't,'' Gallagher said. ``And when that doesn't happen and should have, you're left with a very large hole, which means we allowed rates over those years to be lower than they should have and created a crisis at this point.''Gallagher said other factors contribute to medical malpractice problems, including huge losses in the reinsurance market. Reinsurers insure insurance companies as a safety net against catastrophic losses.
Uh-huh.
1 comment:
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