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: MPL
Coalition Launches New Miscellaneous Professional Liability Insurance Coverage
Coalition, the Active Insurance provider, has announced its new Miscellaneous Professional Liability (MPL) Insurance coverage.
AM Best Revises Outlook on U.S. Medical Professional Liability Segment to Stable
AM Best is revising its outlook on the U.S. medical professional liability (MPL) insurance segment to stable from negative, citing improved rate adequacy, the diminishing impact from pandemic-related exposures, persistently redundant loss reserves, higher reinvestment rates and improved overall returns.
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
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
IronPro Introduces Two-Term Liability Policy Endorsement for Small Business Providers
IronPro, the professional liability unit of Ironshore, is introducing a two-term policy endorsement for its Miscellaneous Professional Liability (MPL) product for small business accounts. MPL policy endorsement will streamline underwriting to reduce the brokers’ administrative costs associated with small business accounts, defined herein as professional services providers with less than $5 million in annual revenues.… Continue reading IronPro Introduces Two-Term Liability Policy Endorsement for Small Business Providers