Healthcare Organization Insurability and Claim Trends

This document is a report detailing insights from a webinar focused on enhancing the insurability of healthcare organizations amidst challenging market conditions. The report features contributions from experts Noel Murata and Danielle Donovan, who discuss the impact of current hard market conditions on medical professional liability claims. It outlines a significant increase in indemnity payments during the first half of 2023, with a total nearing $775 million, as court cases resume post-pandemic. The report highlights the trend of increasing severity in claims and its effects on insurance carriers, including rising insurance premiums due to higher combined ratios. Additionally, it presents the predominant causes of medical professional liability claims, emphasizing the financial implications of high-severity cases. Risk mitigation strategies are also discussed, recommending proactive engagement with underwriters and thorough preparation for the renewal process to demonstrate favorable risk profiles.