Why Doomsday hasn’t Arrived for Malpractice Insurer

The state’s largest medical malpractice insurance carrier reportedly reached a record $57 million in profits last year, according to an article in Crain’s Chicago Business written by reporter Andrew L. Wang. This comes after ISMIE Mutual Insurance Company predicted the opposite following the Illinois Supreme Court overturning an unfair $500,000 cap on non-economic damages in med mal cases. ISMIE insures more than half of Illinois’ physicians. The net income it filed with the state is reportedly the highest in two decades, this even after committing $17 million in dividends to its 12,000 members. Keith Hebeisen, partner at Clifford Law Offices, commented on the story in the news. To read the full story, click here.