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"Today's ruling hasn't changed our decision to be a major player inIllinois for years to come," Sheldon Davidow, President of Medicus said."Although Medicus is a strong supporter of tort reform, we entered the marketafter a thorough examination of the entire business climate and chose to writepolicies with or without tort reform. Our decision is irrevocable, and we willcontinue to work hard in growing our company."
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The Illinois tort reform act, signed by Gov. Blagojevich in August 2005,places a cap of $500,000 on non-economic damages in medical malpractice casesamong other important reforms. Hospital liability is capped at $1 million.Medicus strongly supports such tort reform, and will continue to honor allquotes, renewals, and entertain new business in Illinois despite today'sruling. Davidow noted that today's decision is only the initial step in thejudicial process.
"Medicus is a strong supporter of tort reform and we will do everything inour power to fight for this law," Davidow added. "However, today's ruling ison the lowest rung of the judicial ladder and we are confident that tortreform will ultimately be upheld by the Illinois Supreme Court."
The Texas-based insurance company entered the Illinois med-mal market thispast spring writing policies in all specialties throughout the state. As thecost of medical malpractice insurance skyrocketed in Illinois over the pastdecade, some communities found themselves without specialty physicians or insome cases with no doctors at all. In 2001, there were 17 malpracticeinsurance providers in Illinois. The crisis drove most major carriers out ofthe state.
Medicus currently insures doctors in Illinois, Texas, Missouri, andNevada. The company strives to provide physicians the ability to care forpatients without worrying about their professional liability coverage.
Medicus Insurance Company offers malpractice insurance to physicians,surgeons and related medical service providers. The Medicus leadership team iscomprised of insurance and medical leaders dedicated to providing lower-pricedmalpractice coverage that supports and protects medical practitioners intoday's complex health care environment.
SOURCE Medicus Insurance Company
