The Trib has this article about a new Medical Malpractice Insurance company coming to Illinois – it’s notable because the company cites “tort reform” for its willingness to come to the Land of Lincoln.
Specifically, the article cites a recent change in law that limits damages for pain and suffering to $500,000 against doctors and $1,000,000 against hospitals – which makes no sense, because the amount of pain and suffering you’ve experienced isn’t controlled by who caused it… but I digress.
Let’s see if malpractice prices drop soon because of the added competition. That’s what we were promised, right? I’ll bet it doesn’t happen.
Oh – and isn’t it funny that insurers worry more about lowering the exposure when something bad happens than about preventing malpractice in the first place?