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New Jersey Malpractice Insurer Takes Pause in Issuing New Policies.

By Lindy Washburn, The Record, Hackensack, N.J. Knight Ridder/Tribune Business News

Jul. 23--The state's largest provider of medical malpractice insurance says it will temporarily cease issuing new policies on Aug. 21 because it can't buy the insurance it needs to cover high payouts for malpractice claims.

The decision Tuesday by Princeton Insurance Co. prompted Holly Bakke, state commissioner of banking and insurance, to call a hearing -- the first step in possible reactivation of the state reinsurance pool for medical malpractice companies. The state,

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