The Injured Patients and Families Compensation Fund’s (Fund) mission is to provide excess medical malpractice coverage to Wisconsin health care providers and to ensure that funds are available to compensate injured patients. The Fund was created by legislative enactment in 1975. Health care providers obtain primary medical malpractice insurance from private insurance companies in an amount required by statute.
The Fund is governed by a 13-member Board of Governors (Board). Administrative staff is provided by the Office of the Commissioner of Insurance. Fund staff consists of an Insurance Program Manager, and six full-time employees. Staff ensures compliance with primary insurance requirements, billing and collection of assessments, and claims. The Fund contracts with outside vendors for the following services: Claims Administration, Actuarial Services, and Risk Management. Investments are managed by the State of Wisconsin Investment Board based on guidelines approved by the Board of Governors.
The Fund operates on a fiscal year basis--July 1 through June 30. Administrative costs, operating costs, and claim payments are funded through assessments paid by participating health care providers.