P&C Perspectives: CA Proposition 46: The end of an era for noneconomic caps?

In November, California voters are likely to decide whether the state’s landmark medical professional liability (MPL) cap on noneconomic damages, enacted nearly 40 years ago, will remain intact. Ballot initiative #13-0016 would peg the cap on noneconomic damages to inflation, more than quadrupling the current limit. What will the measure mean to insurers and healthcare providers if voters give it the nod in November?