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  • August 11, 2015

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  • Policy Changes Coming Soon: Watch Your Mail

    ISMIE has refined and enhanced our policy language to reflect changes in physicians' practices. The updates will take effect October 1.

    Certain changes will broaden the coverage you currently enjoy and others will simply clarify. Some revisions reflect our expansion outside of Illinois.  

    Each policyholder will receive a letter detailing the changes, at least 60 days in advance of renewal. Note that the mailing will be separate from your regular renewal letter, which details terms, pricing, etc.

    For more information, email the Underwriting Division or call 800-782-4767 ext. 3350. If you utilize an insurance broker, you may also wish to contact him or her.



  • Physicians: Do You Have Unclaimed Cash in Illinois' Coffers?

    Approximately $1.7 million in unclaimed money belonging to Illinois physicians is "ready for pickup," according to the Illinois State Treasurer's office. 

    The Prairie State launched a website to help return those unclaimed dollars to their rightful owners. Check to see if you have any unclaimed funds to collect by accessing the Illinois State Treasurer's ICASH Discover What's Yours



  • Updated Rates for 2015-2016 Announced

    Last week, ISMIE announced a series of rating adjustments for the 2015-2016 policy year beginning October 1.

    "Changes in the liability experience for certain medical specialties and practice locations have prompted these rate adjustments for the new policy year," explained ISMIE Mutual Chairman Harold L. Jensen, MD. "Most policyholders will experience a little less than a 1% change from their current premiums as ISMIE preserves a level premium base despite these changes among specialties and territories."

    In addition to specialty and region, a number of factors determine individual policyholder premiums. Claims history, experience, participation in ISMIE's Managing Risk program, and dividend program eligibility are also components of premium calculation.

    For questions about your policy renewal, contact our Underwriting staff or phone us at 800-782-4767 ext. 3350. If you utilize an insurance broker, you may also wish to contact him or her.



  • Go Paperless With Your Policy Documents Today

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  • They're At It Again: Loophole Sends Trial Lawyers After Illinois Wineries

    An Illinois law firm is using a "whistle blower" law in a way that leaves us with a bad aftertaste.

    The False Claims Act encourages citizens to speak up if they see an individual or business attempting to defraud the state. The firm in question is  filing multiple lawsuits against out-of-state wineries that are not charging tax on "shipping and handling" costs when delivering to Illinois.

    While the law states that "shipping and handling" is separate from the cost of the product and thus not-taxable, a 2009 state Supreme Court ruled that in certain cases, "shipping and handling" is an inherent part of the cost and thus taxable. However, the court's decision did not repeal the original law and not taxing "shipping and handling" is still the guidance given by the state.

    The confusion has some businesses staying away from shipping to Illinois altogether. But thankfully, the state Attorney General's office recently threw out more than 80 of these types of cases.

    Sadly, this is just another example of trial lawyers seeing Illinois as a playground for filing lawsuits. Let's hope state officials continue to put a cork in it.