Just as Consumer Rights organizations predicted, the so-called “Medical Malpractice Insurance Crisis” has ended, not because of Tort “Reform”, but because of the cyclical nature of insurance underwriting and investment returns.
According to the American Inusrance Reform study, physician premiums increased 0% in 2005, after a modest 3%
in 2004. Before that, in 2002, they had skyrocket 63%. The stabilization occurred nationwide, not as a result of any “caps” on victim compensation but, rather, as always occurs every 10 to 15 years, when the “hard” market turns “soft”.
Shame on each and every cowardly legislator and executive official who voted to deprive the most seriously injured victims and their families from obtaining fair and reasonable compensation. And shame on the Insurance Industry for concocting The Big Lie over and over again. And, finally, shame on the News Media for spreading propaganda rather than investigating the truth.