Florida Medical Malpractice Insurance Available But Costly
When damage limits in medical malpractice cases went into effect, Floridians lost the right to fair compensation for debilitating injury and death due to medical negligence. The insurance industry and their allies in the Florida Medical Association told the people of Florida that unless they got these restrictions, doctors would be forced to flee the state, stop practicing or not carry insurance at all.
In return, Florida doctors were supposed to see lower rates and more malpractice insurance availability. As the Florida Justice Association has reported, one of those goals has been accomplished. Since 2004, more than 18 new companies have started writing new business in Florida. They are entering Florida for one reason -- business is booming. You need only scan an insurance industry trade publication to see that "times are good" in Florida's medical malpractice market. Flushed with cash and facing fewer claims, many insurance companies have announced dividends and aggressive stock repurchasing plans.
While insurers and their investors are reaping excessive profits and flouting the intent of the Legislature, Florida doctors have seen little or no savings. When the FMA declared a crisis in 2003 and asked lawmakers to slash patient rights for the promise of decreased premiums, their intention was not to enrich the insurance industry. But four years later, only token rate decreases have been submitted, following years of double digit increases.
This year, doctors should receive the relief promised. Certainly if the people must give up their rights to fair compensation, the doctors should be the ones to benefit. The Florida Justice Association is correct that the focus should be on the interest of doctors to pay reasonable premiums for medical malpractice insurance and on restoring patients' rights to receive full compensation for damages.
