Report Suggests That Caps Could Have An Impact
Laramie, Wy –
The Wyoming Health Care Commission has received a report from an actuarial firm that shows that a cap on non-economic damages could reduce the costs to insurance companies that serve the state. The Chairman of the Health Care Commission takes the issue one step further. Chris Muirhead believes it also could reduce malpractice rates for doctors. But the report also says the cap number and what exceptions are added to any law could impact the losses insurance companies could see. But the report also says a cap could cause the awards to go up, because juries may not react favorably to it.
The report also says that despite the fact that a cap could save firms money, if there rates are not overly high, it's possible they would not decrease.