December 6, 2010 – Virginia – The state of Virginia, home to government caps on awards for medical malpractice lawsuits since 1999, is set to raise those caps incrementally in coming years, CBS Channel 6 Richmond reports. Virginia’s cap has increased occasionally since 1999, but it has been at a stagnant $2 million for some time now. This extended period without an increase in the cap upset many trial lawyers, who believed the cap was not keeping up with the annual rise in health insurance premiums.
According to doctors, the increased cap would result in higher malpractice insurance premiums. A compromise was finally reached on November 1, 2010. Two lawmakers, Richmond Senator Henry Marsh and Delegate David Albo of Fairfax, gave the 2 arguing parties an ultimatum: If a compromise could not be reached between the lawyers and doctors, the 2 lawmakers would be forced to make their own decision. The groups reached a final agreement that will take effect in 2012. As of 2012, the $2 million cap will increase by increments of $50,000 every year for 20 years to follow. According to Scott Johnson, attorney for The Medical Society of Virginia, this agreement will benefit everyone. The steady increase will stabilize doctor’s insurance premiums and attract more insurers to the Commonwealth, not to mention attract more doctors.
Contacting a New York Medical Malpractice Lawyer
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