Medical News and Medical Liability Conference
The current upward trajectory of medical professional liability rates, the likes of which hasn’t been seen since the mid-2000s is expected to continue through this year and into 2022, according to an American Medical Association Policy Research Perspective report. This rise in rates, after a mostly stable decade, should come as no surprise to hospitals More
According to incoming Curi CEO Jason Sandner, the company’s success is being driven by a three-legged stool strategy. The first being professional liability insurance — Curi’s core business with which it covers much of the east coast and the mid-Atlantic regions and is licensed to serve practices in 47 states and D.C. The second strategy More
Recent in-depth analysis by the American Medical Association has found that there has been a steady and significant increase in medical liability insurance premiums, as 30% of premiums in a survey of liability insurers reported a price increase. This was the highest percentage since 2005, and the second year in a row there has been More
Even though there was a slight improvement in net income for 2020, U.S. medical professional liability insurers saw their sixth consecutive year of underwriting losses, according to a new AM Best report. The ultimate impact of the COVID-19 pandemic in 2020 claim costs still is to be determined, according to the new Best’s Special Report, More
By 2026, the global telehealth/ telemedicine market will have quadrupled from its prepandemic value, going from $45.5 million in 2019 to $175.5 million just seven years later, according to a Statista report. While COVID-19 played a key role in the rapid adoption of the remote delivery of quality healthcare through electronic or technological means (telemedicine) More
Fair American Insurance and Reinsurance Company will make changes to its Psychiatrists Professional Liability Program in the 4th Quarter of 2021, pending various state regulatory body approvals. The company will make revisions under its Entity Coverage for this program, spurred on by recent actuarial and underwriting data, as well as a response to similar offerings More
Chubb subsidiary ACE American Insurance Company will introduce new endorsements to its Allied Healthcare Human Services Program in the tail end of the 2nd quarter of 2021. ACE American will introduce two new endorsements to its playbook in California, with a tentative effective date of June 4, 2021, for new and renewal business. Both new More
ProAssurance Indemnity Company, Inc., introduced two new endorsements on April 1, targeting independent contractors. These endorsements are new and will be intended for use with the carrier’s Healthcare Professional Liability Program, as well as for use with its Ob-Gyn and MDVIP purchasing groups. ProAssurance will aim to bring these new coverage options to New Jersey. More
Berkshire Hathaway subsidiary The Medical Protective Company will implement a rate increase to its Physicians & Surgeons and Allied Healthcare Providers programs. These rate changes will primarily impact the carrier’s Physicians & Surgeons book of business. MedPro is planning to implement an overall 3.0% rate increase to this program. The carrier is aiming to implement More
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State Volunteer Mutual Insurance Company will introduce a rate hike to its Physician Surgeon Medical Professional Liability program midway through the 2nd quarter of 2021. The carrier is aiming to introduce an overall 3% increase to its physician and surgeon rates, which was tentatively scheduled to go into effect on May 15 in Georgia. This More
Curi, formerly Medical Mutual Insurance Company of North Carolina, continues its efforts to expand its geographic reach in 2021, with plans to bring its physicians and surgeons program to Maine near the end of the first quarter. The carrier is eyeing an effective date of March 15, 2021, with the carrier planning to utilize its More
Curi, formerly Medical Mutual Insurance Company of North Carolina, will expand the reach of its medical professional liability program in the second quarter of 2021. The carrier is aiming to bring its physician and surgeons program to New Mexico on April 15, pending state regulatory approval. Though the company has experienced a name change, it More
