Social inflation accounted for between $2.4 and $3.5 billion, or 8 to 11 percent, of all medical malpractice losses incurred by physician-focused insurers in the decade ending in 2021.
Tag: medical malpractice
Gallagher Bassett Announces New Division: GB Specialty
Gallagher Bassett (GB) is pleased to announce the formation of a new division: GB Specialty. GB Specialty’s mission is to deliver superior claim outcomes in specialized lines of coverage like medical malpractice and on high exposure claims in standard lines such as General Liability. Rob Blasio, CEO of GB’s Western Litigation unit, has been appointed… Continue reading Gallagher Bassett Announces New Division: GB Specialty
Report: 80% of Obstetrics Liability Claims Involve High-Severity Injuries
Obstetrics represents a sliver of liability claims, but a new report suggests that many of these cases involve patient injuries of greater severity. Coverys, a Boston-based liability insurer, analyzed 472 obstetrics claims from between 2013 and 2017 and found that 80% were high clinical severity cases. In 24%, either the mother, infant or both died.… Continue reading Report: 80% of Obstetrics Liability Claims Involve High-Severity Injuries
Cost of Extreme Professional Liability Claims on the Rise for Health Care Systems
The cost of extreme, or catastrophic, professional liability claims is increasing at a rate higher than typical self-insured claims, which are trending at two percent annually, according to the Aon/ASHRM Hospital and Physician Professional Liability Benchmark report. The 2018 report was released today by Aon plc, the leading global professional services firm providing a broad… Continue reading Cost of Extreme Professional Liability Claims on the Rise for Health Care Systems