Best’s News & Research Service - May 27, 2016 11:44 AM (EDT)
A.M. BestTV: Medical Professional Liability Market Remains Profitable But Shifting
- May 27, 2016 11:44 AM (EDT)
Oldwick //BestWire// - In this A.M.BestTV episode, a panel of analysts and insurance professionals review the state of the U.S. medical professional liability insurance market, which is experiencing declining premiums and rising combined ratios. Competition is most intense among insurers courting larger medical organizations. Click on http://www.ambest.com/v.asp?v=mplirecut516 to view the entire program.
“I think the market is very healthy and competitive,” said Brian Atchinson, president and chief executive officer, Physicians Insurance Association of America. “There is a lot of change taking place in the marketplace. There are a lot of organizations providing coverage in a lot of states where historically there was less competition. So I think things are very dynamic…. and if you are standing still you are losing ground.”
“Premiums continue to drop,” added Charles Huber, assistant vice president, A.M. Best. “There is a constant trend of premiums declining, primarily because of private practice physicians moving away from private practice into hospital employment groups and larger physician groups. Those companies that rely on or solely write for sole practitioners are losing their insurance base…..However, the medical professional liability sector is very stable.”
Other people who appear in this episode include:
- Richard Anderson, chief executive officer and chairman, The Doctors Company; and
- Greg Hanson, chief executive officer and president, Coverys.
Go to http://www.ambest.com/webinars/mpli16 to see the entire webinar.
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