Caps & Premiums

As a follow-up to my post yesterday about asserted consequences of caps on damages in medical malpractice cases, South Carolina has yet to see a reduction in premiums, a year after the imposition of the caps. 

Insurers in that story say that such a reduction would be expected in about five years due to the lag between filing and payouts.  Then again, Haley Barbour in Mississippi is attributing premium reductions there to caps just two years after their adoption, and the Texas Medical Association attributes cuts in premiums as early as January 2004 to the passing of caps and their approval by voters just a few months earlier.

[via Greedy Trial Lawyer.]