Day on Torts
Here is yet another article that studies what is actually going in the medical malpractice insurance industry.
The NYT article says that “a study to be released today by the Center for Justice and Democracy, a consumer advocacy group in New York, may add fuel to that debate [about the controversy over insurance rates]. The study, compiled from regulatory filings by insurers to state regulators, finds that net claims for medical malpractice paid by 15 leading insurance companies have remained flat over the last five years, while net premiums have surged 120 percent. From 2000 to 2004, the increase in premiums collected by the leading 15 medical malpractice insurance companies was 21 times the increase in the claims they paid, according to the study.”
Will state legislators who bought the prior misrepresentations reverse the tort reform measures they passed? They should. They were sold a bill of goods.