Medical Malpractice Insurance Corporation Act - Authorizes the establishment of corporations to provide medical malpractice insurance to health care professionals and providers based on customary coverage terms and liability amounts. Requires the Secretary of Health and Human Services to certify corporations as medical malpractice insurance corporations if they meet the requirements of this Act, which include that excess earnings of such corporations are used to reduce premiums paid by the insured. Allows such corporations to operate and function without hindrance or impedance in all states.
Prohibits any medical malpractice liability action from being brought against a health care professional or provider without an affidavit from a qualified specialist or medical expert that there is a reasonable and meritorious cause for filing the action.
Requires the Secretary to establish medical malpractice arbitration panels to hear and render decisions on all medical malpractice claims. Mandates participation in such panels. Allows participants dissatisfied with the results to bring a federal civil action.
Requires the Attorney General to proscribe regulations to ensure that such arbitration: (1) is affordable; (2) encourages timely resolution of medical malpractice claims; (3) encourages the consistent and fair resolution of such claims; and (4) provides for reasonable convenient access to dispute resolution.