New Prompt Settlement Payment Act Has Significant Implications for Illinois Malpractice Cases
Medical Litigation Alert
Every medical malpractice carrier and, in fact, all insurers, as well as hospitals, clinics, physicians, risk managers, and litigators, need to be aware of a new Illinois statute that took effect on January 1, 2014. The new statute, 735 ILCS 5/2-2301, drastically affects settlements and the penalties for non-compliance are significant. The Act has numerous ramifications to settlements, including negotiations, settlement offers, liens, settlement and release terms, and timing of payments, amongst other matters.
For further information about the new Act, or to learn more about Hinshaw's Medical Litigation Group, please contact Dawn A. Sallerson, Thomas R. Mulroy, David H. Levitt, Robert J. Finley or your regular Hinshaw attorney.
This alert has been prepared by Hinshaw & Culbertson LLP to provide information on recent legal developments of interest to our readers. It is not intended to provide legal advice for a specific situation or to create an attorney-client relationship.