June 21, 2004

In Massachusetts and Rhode Island, to name two states, interest accumulates on medical malpractice judgments at an astonishing 12 percent per annum, which may have made sense in the days of high inflation but in an era of 6 percent mortgages is pretty much a straight subvention to plaintiffs and their lawyers. A change to more realistic interest rates is, of course, bitterly resisted by the trial lawyers' lobby. ("Mass. May Cut Interest Paid on Med-Mal Awards", Insurance Journal, Jun. 16; more at ATRA (PDF) (via Martin Grace); "Doctors Pushing For Medical Liability Reform", TurnTo10.com (R.I.), Jun. 8.