Friday, July 22, 2005

Wisconsin Supreme Court Ruling - PIC Wisconsin's View

MADISON, Wis. - Physicians Insurance Company of Wisconsin, Inc. (PIC WISCONSIN) William Montei, CEO of PIC WISCONSIN, commented today on the Wisconsin Supreme Court ruling in Ferdon v. Wisconsin Patients Compensation Fund.

“We are disappointed that the Wisconsin Supreme Court, by a 4-3 vote, failed to uphold the constitutionality of a cap on non-economic damages,” stated Montei. “Until we have completed our analysis of the Court’s decision it is difficult to know exactly what the impact on rates will be, however, it is our judgment that rates in Wisconsin will increase. We have worked hard to help maintain Wisconsin’s effective medical liability tort reforms, including caps, over the years, and have taken numerous cases to the Wisconsin Supreme Court to defend them. The cap has been important in maintaining a stable market for professional liability insurance in our state, which is why the decision is of such concern.

PIC WISCONSIN was founded nearly 20 years ago to help ensure that there would be affordable coverage for Wisconsin health care providers. Since then, we have taken great pride in accomplishing our mission. In fact, until now, Wisconsin has been one of only six states that the AMA considers stable in this regard. We will continue to work hard every day to maintain pricing stability, but there is no doubt that the Court’s decision will make that job much more difficult.“


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