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'Worst of Both Worlds' Hits Insurance Elizabeth Solomont
New York Sun, July 3, 2007 The New York State Insurance Department announced that it will increase medical liability premiums by 14 percent, the largest increase in at least five years. New York Governor Spitzer also announced that he would be forming a state task force to investigate the problems with malpractice insurance. "The medical malpractice insurance market has reached a crisis level," Mr. Spitzer said. Common Good’s General Counsel Paul Barringer sees the current crisis as symptomatic of a larger problem. "This is evidence of a system that needs work," Barringer said. "We believe [the health court proposal] has a lot of potential to make the system work in a way that is more likely to generate consistent results from case to case," Mr. Barringer said. That consistency would help to prevent dramatic rate increases and stabilize the malpractice insurance market. » article
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