The legal battles of Intuitive
"Intuitive is fighting about 86 lawsuits in 22 states after setting aside about $100 million to resolve an unspecified number of claims from 2014 through early this year without admitting wrongdoing, it said in an April regulatory filing. Many of the patient lawsuits against it are in the early stages, according to the filing.
Intuitive robots help perform hysterectomies, gall bladder removals, prostate cancer treatment and many other soft tissue operations.
In the insurance dispute, Illinois Union says Intuitive’s disclosure of just 24 claims and failure to reveal 734 others when it applied for coverage in 2013 “is a massive concealment of claims from an insurer, potentially the most egregious in history.”
Two insurance companies say da Vinci’s maker, Intuitive Surgical Inc., failed to reveal more than 700 injury claims when it applied for liability coverage. Intuitive says that’s nonsense.
If a federal judge concludes the insurers are right and rescinds policies providing $25 million in coverage, one of the fastest-growing medical device manufacturers would be left with only self-insurance for a one-year period. Intuitive, meanwhile, accuses Illinois Union Insurance Co. and Navigators Specialty Insurance Co. of acting deceitfully and breaking their contracts."
Currently, ISRG is doing fine:Bloomberg