TRENTON – A bill sponsored by Senators Loretta Weinberg and Joseph F. Vitale which would create more predictability in New Jersey’s volatile medical malpractice liability insurance industry and ease pressures on high-risk health care specialties was unanimously approved by the Senate Commerce Committee today.
“New Jersey’s dedicated health care professionals deserve a level of predictability that just isn’t there right now when it comes to medical malpractice liability insurance,” said Senator Weinberg, D-Bergen, and Vice Chairwoman of the Senate Health, Human Services and Senior Citizens Committee. “The current regulatory structure just isn’t sufficient to allow health care providers to plan from one year to the next regarding the cost and availability of malpractice insurance. This bill would at least help to bring malpractice insurance rates under some level of control, and balance the stability of the insurance market with the impact that unexpected rate hikes have on the medical community.”