today we are here to debate a bill, H.R. 5, written for us by the insurance industry. Supporters of restricting jury awards and malpractice lawyers' fees say excessive billion-dollar damage awards in medical liability suits is the reason medical malpractice insurance premiums have risen so sharply and that nearly half the States are experiencing an insurance crisis. However, others say, and I agree, that rising malpractice rates are part of the cyclical nature of the insurance business, and insurers are raising premiums now to recoup recent stock market losses. In addition, I believe any crisis that exists is specific to certain medical specialties and regions of the country. Let us, Mr. Speaker, say it like it is: the insurance industry wants this bill because it will increase their profits. Well, forgive me if I do not support the insurance industry over injured patients. I do not represent insurance industry profiteers. I represent the people in my district, the people who will be severely disadvantaged if this bill passes in its current form. We have gone back and forth on this issue for a long time now. The medical malpractice insurers tell us again there is a crisis, there is a shortage, there is a stoppage, or whatever else they think will bully Congress into doing their bidding. It is truly terrible that good doctors are paying the price for the insurance industry's bad business decisions.
Editor's note · Context
Debating H.R. 5, a bill related to medical malpractice insurance and jury awards.
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