Oct 21, 2008

Market Turmoil Impacts Virginia Birth Injury Fund

The Richmond Times Dispatch reports that the recent market turmoil has resulted in a $35 million drop in value of the state's Birth-related Neurological Injury Compensation Fund, which has gone from $186 million to $166.5 million according to the article as of Wednesday last week.

"The Richmond-based birth-injury program provides lifetime medical payments to eligible children who can be shown to have suffered oxygen loss at birth and are left with severe lifelong injuries, in most cases cerebral palsy."

"The program was envisioned as an alternative to medical malpractice suits against obstetricians and hospitals involved in the births of disabled children."

The drop in value is on top of a long-term projected shortfall. To read more, click on this link: Birth injury fund.

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