Hearings today on medical malpractice
By Paige St. John
news-press.com Tallahassee Bureau
Medical malpractice companies benefitting from courtroom caps must tell state regulators today why they are not returning more of that money to doctors and the public.
Insurance Commissioner Kevin McCarty has ordered executives of major malpractice insurers to attend public hearings today in Tallahassee on their rates.
Consumer Advocate Steve Burgess, in the Department of Financial Services, estimates premiums should be cut 40 percent to 50 percent.
Michigan-based ProNational Insurance instead offers to cut rates 8.6
The Legislature three years ago capped pain and suffering awards to
$500,000 per physician and $1 million per case. Since then, Burgess
contends, insurance data shows medical malpractice legal costs and
payouts have dropped 43.6 percent, from $989 million to $557 million.