What does this mean if MIIX insurance company was yout insurer and you have pending law suits that they are defending you on. Is there money left to pay out on them if it should settle or do we need to worry?
Unfortunately, what happens is that the state is responsible to cover all settlements and judgements but only up to $300,000. After that $300,000, any excess judgement or settlement has to come out of the doctors’ own pockets – that is if the plaintiff’s attorney wants to go that far or just accept the $300,000 (highly unlikely that any attorney would forgo getting more money since they make their living off a cut of the settlement/judgement).
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What does this mean if MIIX insurance company was yout insurer and you have pending law suits that they are defending you on. Is there money left to pay out on them if it should settle or do we need to worry?
Unfortunately, what happens is that the state is responsible to cover all settlements and judgements but only up to $300,000. After that $300,000, any excess judgement or settlement has to come out of the doctors’ own pockets – that is if the plaintiff’s attorney wants to go that far or just accept the $300,000 (highly unlikely that any attorney would forgo getting more money since they make their living off a cut of the settlement/judgement).
does anyone know when the claims are being settled??? we have a case in litigation for 5 years now…thanks for any information