Word: argonauts
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Insurance companies have responded by jacking up premium costs, which are passed along to patients in the form of higher doctor bills and hospital charges. By January the Argonaut Insurance Co., one of the nation's largest malpractice insurers, put doctors in a fighting mood by drastically raising rates. For example, the average annual premiums for high-risk specialists in California soared from $5,377 to $22,704. But the worst was still to come. This spring Argonaut and other companies sought yet another round of increases in some states and announced plans to dump malpractice coverage entirely...
...California walkout was the most drastic response yet to the steep rise in premiums set by one of the nation's leading malpractice insurers, Argonaut Insurance Co. of Menlo Park, Calif. (TIME, May 5). Claiming that soaring malpractice awards were causing it to lose money, Argonaut last January announced that beginning in May it would raise its premiums for Bay Area physicians by 200% to 300%. Most physicians reluctantly purchased at least temporary-and limited-coverage, but few of the area's anesthesiologists, whose premiums rose from $5,377 to as high as $22,704 per year, renewed...
...York State, where the Argonaut Insurance Co. plans to cancel coverage for 27,000 of the state's physicians and 48 hospitals on July 1 (the company was denied a 196.8% rate hike last December), Governor Hugh Carey has proposed a three-part relief package. The Governor's plan would create a state insurance fund, shorten the statute of limitations on malpractice suits, and make it easier to discipline doctors who make avoidable errors. California's state senate has passed and sent along to the legislature's lower house emergency, or "Band-Aid" bills to guarantee...
Solutions are needed fast. In New York, for example, the Argonaut Insurance Co., which was denied a hike of 196.8% in January (after a 93.5% rise last July), plans to cancel all physician policies on July 1. No other company has volunteered to take over for Argonaut, which insures most of the state's doctors. In Maryland, a court order is now preventing the St. Paul Fire & Marine Insurance Co., the state's major malpractice insurer, from carrying out its plan to cancel all physician policies. Similar crises exist in North Carolina, Michigan, California and Florida...
...single-engine plane that cruised at less than 100 m.p.h. was surely the most glorious stunt of the century-one of those pristinely pure but magnificently eloquent gestures that awaken people everywhere to life's boundless potential. For most of his life Lindbergh was looked upon as an argonaut of the air age, a Ulysses from Minnesota. When he died of cancer of the lymphatic system last week at age 72, America lost not only one of its pioneers of the machine age but perhaps its last authentic hero...