Monday, September 18, 2006

Caps & Premiums

As a follow-up to my post yesterday about asserted consequences of caps on damages in medical malpractice cases, South Carolina has yet to see a reduction in premiums, a year after the imposition of the caps. 

Insurers in that story say that such a reduction would be expected in about five years due to the lag between filing and payouts.  Then again, Haley Barbour in Mississippi is attributing premium reductions there to caps just two years after their adoption, and the Texas Medical Association attributes cuts in premiums as early as January 2004 to the passing of caps and their approval by voters just a few months earlier.

[via Greedy Trial Lawyer.]

http://lawprofessors.typepad.com/tortsprof/2006/09/caps_premiums.html

Legislation, Reforms, & Political News | Permalink

TrackBack URL for this entry:

http://www.typepad.com/services/trackback/6a00d8341bfae553ef00d834b202fc53ef

Listed below are links to weblogs that reference Caps & Premiums:

Comments

Might the caps be at risk from the South Carolina courts? The Texas caps were a constitutional amendment, and thus somewhat more securely in place than a mere law, while the Mississippi Supreme Court has shown that it's cap-friendly.

Posted by: Ted | Sep 18, 2006 7:04:35 AM

A reasonable theory. The story mentions the expected challenge to the caps' constitutionality in explaining why plaintiffs' lawyers expect no real impact from the caps, but doesn't quite tie it into the insurance rates.

Posted by: Bill Childs | Sep 18, 2006 8:37:02 AM

Post a comment