In a suprising development reported in the Chicago Sun Times on April 7, 2005, ISMIE, the insurance company for doctors[with about 60% of the market]has indicated that for the first time in 5 years, the company won't be raising their premiums. Although the Republicans drone on and on about a Medical Malpractice "explosion" and "crisis", the undisputed numbers tell a far different story. There were actually fewer Illinois malpractice cases filed in 2004 and the average amount ISMIE paid on claims went down 6%, to $556,000. Dr. Harold Jensen, the chairman of ISMIE had an unusual take on the numbers. Jensen felt that doctors had drawn attention to the "malpractice crisis" by[and I am not making this up]wearing green armbands.
It should also be noted that in 2004 ISMIE took in $420 million in premiums and only paid out $150 million in claims. Wow, $270 million to the good. Green seems to be an appropriate color for ISMIE as well.
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