Medical Malpractice Caps Benefit Insurance Companies

Seth Miles

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Drastic caps on medical malpractice damages awards enacted by the Florida Legislature were supposed to result in far lower insurance premiums for doctors. In fact, Florida's Office of Insurance Regulation reports that rates dropped by a mere 3% last year. Where is the money going?

To the insurance companies, of course. Credit rating organization A.M Best found in May that malpractice insurers nationally in 2006 had their best year since the mid-1990s. The end result, injured victims aren't compensated for their injuries, doctors' insurance rates hardly go down, and insurance companies get a windfall.

For more information on this subject, please refer to the section on Medical Malpractice and Negligent Care.