To provide for a Federal program to stabilize medical malpractice insurance premiums.

January 29, 2003

Mr. PALLONE introduced the following bill; which was referred to the Committee on Energy and Commerce

To provide for a Federal program to stabilize medical malpractice insurance premiums.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the `Federal Medical Malpractice Insurance Stabilization Act of 2003 '.

SEC. 2. FEDERAL PROGRAM TO STABILIZE MEDICAL MALPRACTICE INSURANCE PREMIUMS.

(a) ESTABLISHMENT- The Secretary of Health and Human Services shall establish and oversee a program under which insurance companies and other underwriters offering medical malpractice insurance coverage in the United States reinsure all claims in excess of $250,000 through automatic reinsurance from a national fund that would be available to such companies and underwriters in order to provide stability in the market for medical malpractice insurance coverage.

(b) TERMS AND CONDITIONS- The Secretary shall establish the terms and conditions of such a program, including the premium amount to be charged for such reinsurance.

END