In another indication of a tightening market nationwide for medical malpractice insurance, the Illinois State Medical Society's malpractice insurance affiliate, ISMIE Mutual Insurance Co., will impose a moratorium on all new business effective Jan. 1. Just last year, ISMIE, the largest malpractice carrier in Illinois, was considering a conversion to a stock insurance company from a mutual, hoping to expand its business to other states and boost revenue. The affiliate, also known as the Illinois State Medical Inter-Insurance Exchange, said it was forced to declare a moratorium because of unprecedented interest among doctors and a volatile and "increasingly difficult medical liability climate." ISMIE insures about 13,800 doctors statewide, an increase of approximately 15% from 2001. Subject to review, the company said it will continue to accept physicians joining economically integrated medical groups that are now insured by ISMIE, as well as physicians finishing residency and fellowship programs who are entering practice for the first time. -- by Michael Romano
Ill. malpractice carrier to reject new business
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