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The insurance industry still profiting from high insurance rates and medical malpractice “caps”

An article released by the Center for Justice & Democracy recently reexamined who really wins in “tort reform.” Once again, results show that the insurance companies come out as the major winners. For example, in the period from 2000-2005, net medical malpractice lawsuit claims paid by the 15 leading insurers across the country remained flat, while the net insurance premiums for doctors surged 120%. Insurance companies will continue to profit unless they have strict oversight by insurance commissioners. The article stated that unfortunately, strict oversight is the exception and many state insurance departments do not have authority for aggressive regulation. In Illinois, medical malpractice insurance premiums continue to rise despite the civil justice restrictions that became law.

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