Malpractice insurance company in Illinois reached record levels in 2012, two years after the Illinois Supreme Court struck down laws capping damages in jury verdicts, according to an article in Crain’s Chicago Business.
After predicting the opposite when the court struck down the caps on non-economic damages, ISMIE Mutual Insurance Company posted $57 million in profits last year. The net profit came after distributing $17 million in dividends to its 12,000 members.
Advocates of “tort reform” would cap damages for pain and suffering, disability and loss of society in wrongful death cases. Yet these damages are what truly balance the scales of justice for a personal injury victim. The attorneys at Shapiro, Cohen and Basinger, Ltd. are committed to fighting for their clients and against the big insurance companies.