A quarterly review of Company and industry news for Medical Mutual member-policyholders.
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The Advocate
Second quarter 2007
Maine Rates to Remain Unchanged
Medical Mutual's President and CEO Terrance Sheehan, MD, announced in a letter on
July 20 to all Maine policyholders that the Company would not file for any rate increases
on its physician and hospital lines of business. This marks the second consecutive year
that rates will have remained unchanged.
In his letter, Sheehan wrote, "I'm extremely proud of our entire medical community as Maine is recognized as one of the nation's leaders in delivering outstanding, competent and compassionate care to its residents."
The two biggest reasons Medical Mutual has been able to hold the line on premium
increases in Maine are the continued moderation of incurred losses and significant
draw-downs on claim reserves from prior years. Sustained rate stabilization appears to be
attainable as claims activity continues to trend favorably.