The president of the state's largest malpractice-insurance company said no, insurers didn't need a cap on jury awards to be profitable. A state regulator said no, there hasn't been an explosion of frivolous lawsuits.The post goes on to counter several other major claims for award caps. While states may vary in the specifics, these statements back up assertions made by groups opposing awards caps now.
More states need to hold hearings like this. Insurance companies will not answer serious questions without the added pressure of being under oath.