Medical Malpractice Lawyer
Medical malpractice insurance covers doctors and other professionals in the medical field for liability claims arising from their treatment of patients. The cost of medical malpractice insurance has been rising. The hard market began in 2000, after almost a decade of essentially flat prices. Rate increases have been precipitated in part by the growing size of claims, particularly in urban areas. Among the other factors driving up prices is a reduced supply of available coverage as insurers exit the medical malpractice business because of the difficulty of making a profit and rapidly rising medical care costs. A Towers Perrin survey predicts that health care costs will rise by 8 percent in 2005. This is on top of average annual increases during the period from 2000 to 2004 that ranged from 12 to 16 percent. Depending on plaintiffs’ age and degree of medical impairment, medical costs resulting from medical malpractice incidents may continue for decades.
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