It appears that top-ranking association lawyers have a new tactic.
They are going to try to drive down medical malpractice rates in Illinois by going into competition with the Illinois State Medical Society’s dominant insurance company.
That’s the company that made enough money to give ex-Crystal Laker Don Udstuen a bonus (deferred compensation) of almost $4.9 million when he resigned in disgrace after turning state’s evidence when the feds figured out he took bribes as a McHenry County Board-appointed Metra Board member.
Associated Press reports,
"...legislators approved some limits on lawsuit awards but also strengthened state oversight of doctors and insurers. The major insurer, ISMIE Mutual Insurance Co., was forced to promote competition by opening its ratemaking formulas to other companies."Herb Franks, Jack’s father, is a former president of the Illinois Bar Association.
State Representative Jack Franks (D-Bull Valley) is vice chairman of the new company, Doctors Direct, Inc.
AP reports the son said,
"It's certainly not a vendetta; we're not mad at them. But we see an opportunity here and we can fill a need that's desperate in this market."More Jack Franks and other McHenry County news at McHenry County Blog.