Government
Insurer promises rate relief if Washington state passes tort reform
NEWS IN BRIEF — Posted Feb. 23, 2004
Washington state's largest physician insurer on Feb. 4 said it would drop rates by 10% Jan. 1, 2005, if the state adopts tort reform that includes a $250,000 noneconomic damages cap and if voters in November approve a state constitutional amendment allowing such caps.
Physicians Insurance, A Mutual Company, which insures about 5,900 physicians, also called for a provision that allows economic damages to be paid over time. The Washington State Medical Assn. is asking state lawmakers to pass reform that includes those provisions. Washington is one of 19 states that the American Medical Association lists as being in the midst of a medical liability insurance crisis.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2004/02/23/gvbf0223.htm.
