The President wants to regulate the insurance industry

As our President talks to the nation on his Presidential News Conference, he mentioned that one of his pillars has to do with health care reform. One of his ideas is to regulate the insurance industry, based on the AIG scandal.

The only problem with that, as we see it, this could be potentially dangerous when it comes to settling case for personal injury claims. Although we would not speculate, we could see that if the government steps in, and regulates the industry, they would also dictate how much to pay for claims.

On the other hand, if the insurance companies are regulated, then we would not have the need to cap non-economical damages for claims, which has minimized the results obtain for those who need it the most. Since Texas has a cap, we have seen a raise in negligence by doctors, without having the doctors concern about loosing anything or even feeling sorry for their negligence, since they cannot be touched.

We can only wait to see how our economy is going to affect the way that personal injury attorneys are capable of helping those who have been affected by the negligence of others.

The Baez Law Firm, P.C. is a general practice law firm that is ready to help you during difficult times. We handle bankruptcy, criminal law, personal injury, family law, business law, consumer law, litigation, and appeals.