{
  "id": "RL31886",
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      "id": 352590,
      "date": "2009-10-02",
      "retrieved": "2016-04-07T02:15:06.252356",
      "title": "Medical Malpractice Insurance: An Economic Introduction and Review of Historical Experience",
      "summary": "Insurance is a critical piece of a modern economic system, but it often goes unnoticed until it becomes prohibitively expensive or its availability is curtailed. Such problems occurred in the medical malpractice liability insurance market most recently in the early part of the 2000s. Many physicians experienced substantial increases in insurance premiums, and there were reports of problems with availability of physician services due to doctors retiring or relocating from areas that had seen high premium increases. This was not the first time such a crisis has been proclaimed; similar events occurred in the latter half of both the 1970s and 1980s. In the latter half of this decade, overall losses for medical malpractice insurance have dropped and premiums have moderated. Public discussion of medical malpractice has lessened as well.\nThe fundamental purpose of insurance is to transfer an indefinite risk from one party to another for a definite premium. The pricing of this premium is critical, but determining this price is uncertain because it depends on estimates of the chance of a future loss, as well as the estimated value of that loss. The premium will also depend on estimates of future investment gains or losses because an insurer also acts as a financial intermediary and invests the capital that is held in reserve against future losses.\nThe market for medial malpractice liability insurance has been unstable during the past three decades for a variety of reasons. Recurring market problems have provoked various policy reactions in both state legislatures and in Congress. Assessing the effectiveness of particular policy changes is, however, complex and strong conclusions have typically been equally strongly disputed.\nCongress has not directly addressed medical malpractice liability insurance since the 109th Congress, when the House passed a bill, H.R. 5, whose centerpiece was a limitation on tort claims for medical malpractice; similar bills passed the House in the previous two Congresses. The Senate, however, did not act on any of these House bills and failed to invoke cloture on the Senate bills addressing medical malpractice. Although the medical malpractice insurance market is not currently in the midst of a crisis, Congress has again focused on medical malpractice in the 111th Congress as a part of overall healthcare reform.\nThis report examines the economic issues and historical experience surrounding medical malpractice insurance. It includes an explanation of the fundamentals of insurance and how these fundamentals relate specifically to medical malpractice insurance. It also includes a discussion of the evolution of the medical malpractice insurance market since the 1970s and policy changes over this time. It will be updated as major legislative events occur.",
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      "source": "University of North Texas Libraries Government Documents Department",
      "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc807593/",
      "id": "RL31886_2007May03",
      "date": "2007-05-03",
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      "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc811871/",
      "id": "RL31886_2006May05",
      "date": "2006-05-05",
      "retrieved": "2016-03-19T13:57:26",
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    {
      "source": "University of North Texas Libraries Government Documents Department",
      "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc813078/",
      "id": "RL31886_2005Jan19",
      "date": "2005-01-19",
      "retrieved": "2016-03-19T13:57:26",
      "title": "Medical Malpractice Insurance: An Economic Introduction and Review of Historical Experience",
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    {
      "source": "University of North Texas Libraries Government Documents Department",
      "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc805807/",
      "id": "RL31886_2004Jun22",
      "date": "2004-06-22",
      "retrieved": "2016-03-19T13:57:26",
      "title": "Medical Malpractice Insurance: An Economic Introduction and Review of Historical Experience",
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  "topics": [
    "Economic Policy",
    "Health Policy"
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}