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Originally posted by sebastian_dangerfield
Why haven't docs sued insurers on a fraud theory? If you raise rates to cover your own economic losses while simultaneously claiming the increase derives from made-up adverse market conditions, aren't you committing fraud?
Don't you have the intenional misrepresentation of a material fact with detrimental reliance required for a fraud claim? Why hasn't that class action been filed?
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Ever sued your insurer? Better yet, ever made a claim? What happened? Right. Lesson is, Good luck getting coverage in the future. It benefits the doctors much more to point the finger at lawyers than at their insurers. They need insurance - they don't need lawyers (they think - bwahhhahahahhhahahhahhh).
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Alternatively, why not a price-gouging claim under some state's price gouging statute? I know the insurance contracts say rates can be jacked for any reason the companies want, but there's got to be spome legal basis to hang them...
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The insurance lobby is pretty powerful, and they tend to hire some expensive legal talent. In CA, we have an insurance commissioner who tries to do something about gouging, but has had only limited success.
