In February, Acupuncture Today reported on the financial difficulty American International Group (AIG) was undergoing. AIG, among other things, underwrites malpractice policies that are provided to acupuncturists.
The company has just posted another quarterly loss of $8.9 billion and warned that it may need additional government support in order to help pay back taxpayers after a $182.3 billion bailout.
The insurer stated in a filing with the Securities and Exchange Commission that without additional government support, "In the future, there could exist substantial doubt about AIG's ability to continue as a going concern."
Malpractice insurance for health care providers has been sold under "Lexington" and "National Union," both AIG affiliate companies. This latest loss raises more questions as to AIG's capability to provide proper coverage to policy holders. Acupuncture Today will continue to follow this story and provide updates.
ACAOM Moves Forward on First Professional Doctorate
The agency, which is charged with providing educational requirements and accreditation for schools of acupuncture and Oriental medicine, which reviewed more than 3,000 letters and comments on the issue of first professional doctorate, concluded: "Based on this review the Commission, in its exercise of professional judgment, is satisfied that there is sufficient support to justify the further development of first professional doctoral standards. Accordingly, the Commission voted to authorize the ACAOM Doctoral Task Force to complete its work in developing standards for accrediting first professional doctoral programs in AOM for the Commission's review and consideration. In taking this action, the Commission does not take any position on whether or not the first professional doctorate should be the educational requirements for professional practice in AOM, which is the prerogative of state legislative and AOM regulatory authorities."
The ACAOM plans to reconvene its task force to refine the first draft of its proposed standards. These will then be sent out to the AOM community for review. Several groups have spearheaded opposition to a first professional doctorate, led by the Community Acupuncture Network.
Trudy McAlister Scholarship Fund Announces 2010 Winners
Since 2007, the Trudy McAlister Fund has awarded scholarships to deserving students of Acupuncture and Oriental Medicine. The recipients this year are Patrick Kelley of Pacific College of Oriental Medicine in New York and Ian Koebner from the New England School of Acupuncture. Each student received a $1,000 scholarship.
The nonprofit Trudy McAlister Foundation is a fund established for the support of Acupuncture and Oriental Medicine students in the United States studying in an accredited program (ACAOM), and for the support of research and related activities that promote the advancement of Acupuncture and Oriental Medicine.
Members of the Scholarship Committee are Gene Bruno, William Pettis, Pamela Lee and Rhonda Wilbur. These advisors make the recommendations for final approval of scholarships. The advisors encourage colleges, individuals and organizations to make donations to the Trudy McAlister Foundation. For more information about the Trudy McAlister Fund, contact Gene Bruno at
ACTCM Celebrates Its 30th Anniversary
On April 18, from 2-5 p.m., the American College of Traditional Chinese Medicine (ACTCM), located in San Francisco, will celebrate its 30th anniversary. It will be held at the San Francisco War Memorial Building and admission is free.