Lawsuit reform could be big in 2012

◼ Nobody knows where Texas Gov. Rick Perry's presidential campaign will go or how far, but one thing is certain: The Lone Star State has been growing new jobs faster than any other state for the past decade and, since he has occupied the governor's chair for most of that time, Perry is eager to talk about why that happened and what needs to be done to duplicate it nationally. - Washington Examiner Editorial

Experts and pundits can debate exactly how much of the credit should go to Perry, but there is little doubt that people across America are paying attention. One of the factors Perry repeatedly cites as playing a central role in the Texas economic success is lawsuit reform. Insuring equity and fairness for all defendants and plaintiffs, he argues, is essential to creating a business environment that encourages job creation and economic growth.

A widely praised lawsuit reform measure Perry signed into law earlier this year was not the state's first experience on the issue. In 2003 and 2005, Texas adopted, also with Perry's active support, medical malpractice lawsuit abuse reforms that soon thereafter began to produce remarkable results. Within three years of the reforms' enactment, medical malpractice insurance premiums for doctors were reduced by 35 percent, saving physicians more than $200 million. That in turn reversed a growing doctor shortage in Texas by attracting a vast new influx of doctors fleeing other states with less enlightened laws to open up practices in Texas. That influx in its turn provided incentive for nearly three dozen insurers to offer new medical insurance products that helped drive down costs and improve services for doctors and patients alike. read the rest...