For years, the consensus among insurers was that fraud represented some small percentage of their business and they
adjusted premiums accordingly.
In response, insurers
adjusted premiums producing a rate shock that caused consumer outrage against industry and then government.
7% on average as health plans
adjusted premiums to catch up to medical costs.
Based on 2010 and 2011 data, small group
adjusted premiums per member per month were $4.
RAM reported
adjusted premiums written, a measure of business production, of $8.
After adjusting for a previous retrocession agreement which impacted retained premiums in the third quarter of 2007, premiums retained would have increased by 61% in the third quarter of 2008, from
adjusted premiums retained of $2 million in the third quarter of 2007.
Net
adjusted premiums written declined approximately 86% compared to prior year second quarter, primarily the result of reinsuring business from only two ceding companies that are currently writing business.
After adjusting for a previous retrocession agreement which impacted retained premiums in the second quarter of 2007, premiums retained would have increased by 72% in the second quarter of 2008, from
adjusted premiums retained of $1.
Net
adjusted premiums written grew approximately 53% above the prior year's first quarter, with U.
After adjusting for a previous retrocession agreement which impacted retained premiums in the first quarter of 2007, premiums retained increased by 102% in the first quarter of 2008, from
adjusted premiums retained of $1.
5 million, as measured by
adjusted premiums written.
Business production for the first nine months, as measured by
adjusted premiums written, increased by 70% relative to the first nine months of 2006.
