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RE: Here is an example from California.. It works!
Posted on: March 24, 2017 at 10:14:42 CT
ummmm MU
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Economics in One Lesson.
From your same link:
"There is an argument that government regulation and restriction on jury awards in medical malpractice suits is detrimental to the public and primarily protects insurance companies. The rationale behind this argument is that regulation of jury awards has substantially decreased (1) the average amount of the award and (2) the number of suits actually filed, but has not created a correlating decrease in malpractice insurance rates. (See RAND Report, supra.) Thus, the benefit to the public is negligible. However, as a result of government regulation, juries may be prevented from awarding an amount that the jury feels is fair. The attorney is prevented from contracting for a price that he feels is fair. As a practical effect, fewer attorneys are willing to take medical malpractice cases. Regulation also has emboldened malpractice insurance carriers to take cases all the way to trial, instead of settling the cases, because their potential exposure is capped. This significantly increases the cost of litigation. Those attorneys who do take medical malpractice cases are very careful only to take very large damages cases. The end result has the practical effect to preventing people who have legitimate, but smaller, malpractice complaints from ever finding an attorney - thus effectively limiting many victims' access to the courts."
From your same link:
"There is an argument that government regulation and restriction on jury awards in medical malpractice suits is detrimental to the public and primarily protects insurance companies. The rationale behind this argument is that regulation of jury awards has substantially decreased (1) the average amount of the award and (2) the number of suits actually filed, but has not created a correlating decrease in malpractice insurance rates. (See RAND Report, supra.) Thus, the benefit to the public is negligible. However, as a result of government regulation, juries may be prevented from awarding an amount that the jury feels is fair. The attorney is prevented from contracting for a price that he feels is fair. As a practical effect, fewer attorneys are willing to take medical malpractice cases. Regulation also has emboldened malpractice insurance carriers to take cases all the way to trial, instead of settling the cases, because their potential exposure is capped. This significantly increases the cost of litigation. Those attorneys who do take medical malpractice cases are very careful only to take very large damages cases. The end result has the practical effect to preventing people who have legitimate, but smaller, malpractice complaints from ever finding an attorney - thus effectively limiting many victims' access to the courts."
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RE: Here is an example from California.. It works! - ummmm MU - 3/24 10:14:42