Florida Supreme Court Rejects Damage Caps on Medical Malpractice Wrongful Death Claims.
The Florida Supreme Court has rejected the centerpiece of the 2003 medical malpractice overhaul law, concluding that the cap on wrongful death non-economic damages violates the state constitution’s equal protection clause. The cap’s limited payments for pain and suffering to $500,000 or $1 million, depending on the circumstances and the number of people involved.
The decision will effectively remove the cap on so-called “non-economic” damage when someone dies because of medical malpractice.
Founders represents many of the premier physicians medical malpractice carriers for standard physicians and hard-to-place risks (claims, administrative actions, licensing issues). We are one of a limited number of select wholesalers with an appointment with The Doctors Company and Medical Protective. Contact us today if you would like us to assist you in the placement of physicians’ med mal for your insurance clients.
Courts generally tend to dismiss consumer class action lawsuits filed against companies if victims can’t show that the breach directly cause them harm or a financial loss. A federal court in Florida broke the mold by approving a $3 million settlement for victims of an AvMed data breach in which personal health information of tens of thousands of its customers were exposed when multiple laptops containing unencrypted data were stolen. This is the first settlement in which victims of the data breach will be compensated without having to show they suffered any losses from the theft of their personal data. The premise behind the settlement is that there is an assumption that a portion the premiums paid by consumers for health insurance or medical care should have been used to improve data security and protect consumer data.
A recent study by Experian contained a prediction that the insurance industry will see a 50% increase in sales of cyber/privacy policies in 2014. Healthcare insurance consumers are now more informed than ever regarding this critical exposure. Are you offering this coverage to all of your healthcare insureds? How can we help?
We can provide you with a ballpark quote for Cyber/ Privacy and Regulatory Liability Coverage for your healthcare providers in a matter of minutes. Contact me to find out how!
Linda Wright, CIC
Healthcare Practice Leader
Founders Professional is a wholesale insurance brokerage with a dedicated team specializing in the placement of medical professional liability insurance. We represent premier physicians’ medical malpractice carriers and our market clout ensures that we are able to negotiate the most favorable terms for your clients.
In addition to standard markets such as The Doctors Company and Medical Protective (state limitations apply), we find coverage solutions for those whose histories include, claims, licensing and board sanctions, and other challenging underwriting issues.
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