Dr. Talone has been very proactive in fighting
for the rights of all New Jersey physicians. As Chairman of Conventus,
the state's only physician owned and governed medical professional
liability insurance company, Dr. Talone recognizes the impact that
these issues have on the affordability and availability of insurance
for all physicians.
"Thousands of our physicians continue to treat
our New Jersey citizens to the best of their ability," Dr. Talone
testified. "The state continues to be greatly distressed by the
continuing trend in rising premiums and its impact on our ability
to keep the best and brightest in medicine in New Jersey as well
as our diminishing capacity for semi-retired clinicians to continue
to practice medicine."
In his testimony, Dr. Talone focused on declining
and untimely reimbursements that physicians receive from third parties.
He also addressed the dismal performance of insurance reimbursement
to hospitals. These two issues combined have made it difficult to
keep hospitals and clinics staffed with the appropriate personnel,
ultimately threatening the quality of care that is available to
New Jersey citizens.
In addition, Dr. Talone commented on rising professional
liability insurance premiums, the fastest rising overhead cost a
physician must manage. Increasing severity of medical malpractice
claims coupled with mismanagement by many commercial insurance carriers
has led to a tight market that struggles for stability.
A leading advocate for New Jersey physicians,
Dr. Talone has demonstrated that physician involvement in critical
issues produces results. This idea drove Dr. Talone to be a founding
member of Conventus. At Conventus, Dr.
Talone is proving that by joining together, physicians can take
control of their own destiny and limit, at least from an insurance
perspective, the impact that today's environment has on their bottom
line.
About Conventus Inter-Insurance
Exchange
Conventus Inter-Insurance Exchange is a not-for-profit,
non-assessable reciprocal insurance exchange providing medical professional
liability insurance in New Jersey. Conventus is the
only company in the state that is both owned and governed by its
members, but is managed by experts in the property and casualty
insurance industry. The management team at NIP Management Company,
the Exchanges' Attorney-in-Fact, has extensive experience in medical
professional liability insurance and in managing underwriting results
for companies like Conventus.
