Premium growth for AM Best’s medical professional liability (MPL) composite moderated to 3.6% in 2023, but overall financial results were buoyed by favorable net investment income, according to a new AM Best report.
Tag: Medical Professional Liability insurance
Headwinds Continue for MPL Insurance Sector Despite Improvement in 2022
A new report issued by the MPL Association shows the medical professional liability insurance sector had a combined ratio that improved from 108.1% in 2021 to 102.2% in 2022.
Medical Professional Liability Faces Headwinds as Outlook Is Negative: AM Best
The U.S. medical professional liability segment faces persistently depressed demand, rate adequacy concerns, rising loss costs and social inflation, diminishing reserve redundancies and the potential for additional COVID-related claims frequency, AM Best analysts and industry experts said at an analytical briefing. “There’s a number of headwinds that are still facing the MPL segment,” AM Best… Continue reading Medical Professional Liability Faces Headwinds as Outlook Is Negative: AM Best
Medical Professional Liability Insurance Results Improve, Return to Underwriting Profit Still Unlikely
The medical professional liability insurance (MPLI) market in the United States significantly improved in 2021, reversing a four-year trend of declining performance while maintaining a 108 percent combined ratio. Earned premium growth associated with recent material premium rate increases will most likely improve segment performance further in 2022. According to Fitch Ratings, a return to… Continue reading Medical Professional Liability Insurance Results Improve, Return to Underwriting Profit Still Unlikely
Pandemic Not to Blame for Current MPL Market Challenges: RPS
From rising mortality rates and staffing shortages to postponement of routine medical care and screenings, the COVID-19 pandemic has negatively impacted every aspect of the healthcare market. While it would be easy to point to COVID-19 as the primary cause of the rate hikes and coverage challenges facing the medical professional liability (MPL) market, that… Continue reading Pandemic Not to Blame for Current MPL Market Challenges: RPS
MPLI Pricing Increases as 2020 Marks Fifth Consecutive Year of Underwriting Loss: Fitch
Favorable pricing trends in U.S. medical professional liability insurance (MPLI) have not yet translated to a reversal of weak segment underwriting performance, Fitch Ratings says. Continued rate increases will promote improvement in near-term results, but persistent litigation-related loss severity and competitive market fundamentals likely inhibit a return to underwriting profits. The 2020 combined ratio of… Continue reading MPLI Pricing Increases as 2020 Marks Fifth Consecutive Year of Underwriting Loss: Fitch
COVID-19’s Impact on Medical Professional Liability Litigation: AmWINS
In March 2020, as the world braced itself for the unknowns of a global pandemic, the medical professional liability (MPL) industry battened down the hatches and prepared itself for the storm. Shortages of critical supplies, inadequate testing capabilities and pop-up morgues painted a frightening picture for healthcare professionals and the medical professional liability industry. Fast… Continue reading COVID-19’s Impact on Medical Professional Liability Litigation: AmWINS