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Sat October 30, 2004
Cato Expert Amazed That Wyoming Malpractice Insurance Rates Are High
Laramie, Wy – A supporter of capping non-economic damages in medical malpractice cases, admits he's little puzzled why Wyoming is battling high insurance rates for its Doctors. Cato Institute Tort Expert Robert Levy says the reason most insurance rates increase is because juries are paying out too much in medical malpractice cases. But he's surprised its an issue in Wyoming. Statistics show that most payouts in Wyoming don't exceed a million dollars. Levy says if that is the case, he'd have a tough time justifying a cap on damages. "It's hard for me to imagine skyrocketing malpractice costs without damage awards that would justify such large costs". Levy adds that even awards of around a million dollars are not a lot. "I would be hard pressed to argue that is excessive, unless these injuries were so trivial that almost no award could be justified." Levy is also puzzled as to why more insurance companies are not coming to the state.