Wednesday, January 21, 2009

Effects of Tort Reform

Patricia Born (California State University), Kip Viscusi (Vanderbilt), and Tom Baker (Penn) have posted an article titled The Effects of Tort Reform on Medical Malpractice Insurers' Ultimate Losses that might be of general interest to tort aficionados.  Here's the abstract:

Whereas the literature evaluating the effect of tort reforms has focused on insurers' reported incurred losses, this paper examines the long run effects of reforms using the developed losses from a comprehensive sample of insurers writing medical malpractice insurance from 1984-2003. The long run effects of reforms are greater than insurers' expected effects, as five year developed losses and ten year developed losses are below the initially reported incurred losses for those years following reform measures. The quantile regressions show that reforms have the greatest effects for the firms that are at the high end of the loss distribution. The beneficial effects of reforms on developed losses are more pronounced than those obtained from initially-reported losses, suggesting that insurers underestimated the true effects of the reforms.

ECB

http://lawprofessors.typepad.com/mass_tort_litigation/2009/01/effects-of-tort.html

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Eli Lilly Zyprexa claims being stonewalled


Where is the $1.42 billion Eli Lily Zyprexa settlement going as many victim claimants haven't been paid yet? It's the largest pharma-fraud-whistleblower case in US history.

Eli Lilly, the Indy-based pharmaceutical company pleads guilty to promoting Zyprexa for unapproved uses and is slapped with $1.4 billion criminal fine, the largest ever placed on a U.S. company.

Eli Lilly promotes sales of their #1 drug (Zyprexa $4.8 billion per year) that can *cause* diabetes and then turns around and makes billions selling more drugs to treat the diabetes.
Eli Lilly's # 1 cash cow Zyprexa has been over-prescribed and linked to a 10-times greater risk of causing type #2 diabetes and increased risk of heart attack.

"First they ignore you, then they ridicule you, then they fight you, then you win." -- Mahatma Gandhi

I believe that I am the world's most vigorous Zyprexa claimant having posted more than 68,000 web pages.

It ain't over. I will be costing Lilly lots more $$$.
They have three certified letters from me substantiating my claim. I am a classic case for compensation having taken the stuff for four years (for off-label PTSD). I paid thousands of dollars out of my own pocket in co-payments for the Zyprexa which gave me sudden onset diabetes in 2000 with a deadly A1C of 14.2 all documented at my site.

Eli Lilly has up to 250 lawyers just on their payroll in Indy; they have NEVER contacted me except in 2005 to get a release of my medical records. My doctor says, (get this) they never contacted him to verify the information.
There must be millions out there harmed by this drug.

Daniel Haszard

Posted by: Jehovahinfo | Jan 21, 2009 8:44:05 AM

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