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 insurance
California’s Malpractice Payouts Would Rise Under a Deal to Avoid a Costly Ballot Fight
Cash payments in California medical malpractice cases would increase for the first time in nearly five decades under a deal announced Wednesday by rival interest groups that avoids a costly battle at the ballot box in November. The overhaul of the long-standing Medical Injury Compensation Reform Act of 1975, known as MICRA, will be outlined… Continue reading California’s Malpractice Payouts Would Rise Under a Deal to Avoid a Costly Ballot Fight
Surgery is the Second Most Common Reason for Medical Malpractice Claims, Report Says
Surgery can not only be risky for patients, but it also poses a risk for doctors as well in terms of medical malpractice claims. Surgery is the second most common cause for medical malpractice claims against doctors overall, according to a new report from medical liability insurer Coverys. The insurer analyzed five years of closed… Continue reading Surgery is the Second Most Common Reason for Medical Malpractice Claims, Report Says
Drastic Increase in the Cost of Medical Malpractice
Alarming Statistics One of the constant threats hanging over the head of any medical professional is the risk of a medical malpractice suit. Malpractice insurance is one of the largest necessary expenses for doctors and other healthcare providers, and current trends do not seem likely to alleviate the burden any time soon. Not only has… Continue reading Drastic Increase in the Cost of Medical Malpractice
Beazley U.S. Hospital Claims Data: Medical Malpractice More Costly; Steep Increase in Largest Claims
The average cost of a medical malpractice claim in the U.S. has increased by 50% since 2009 with a sharp rise in the number of claims of more than $5 million over the last four years, according to Beazley, a leading insurer of hospital professional liability (HPL). These findings have been published in a collaborative… Continue reading Beazley U.S. Hospital Claims Data: Medical Malpractice More Costly; Steep Increase in Largest Claims
More than Half of U.S. Doctors Have Faced Malpractice Lawsuits, Survey Finds
If you’re a doctor practicing medicine in the U.S., there’s a good chance you will face a lawsuit during your career. A majority (55%) of U.S. physicians said they have been sued, according to Medscape’s physician malpractice report for 2017. Among the doctors who had been sued, more than half faced more than one lawsuit.… Continue reading More than Half of U.S. Doctors Have Faced Malpractice Lawsuits, Survey Finds