AM Best announces an analytical briefing on the U.S. medical professional liability insurance sector, aimed at exploring market trends and challenges, with insights from industry leaders scheduled for May 1, 2024.
In an important upcoming event, AM Best, a reputable global credit rating agency, is hosting an analytical briefing on the U.S. medical professional liability (MPL) insurance sector. Scheduled for May 1, 2024, this one-hour session promises to offer significant insights into the market trends and challenges facing MPL insurers.
The briefing is set against a backdrop of substantial industry changes influenced by multiple factors, including healthcare regulatory shifts, pandemic-related impacts, and financial market dynamics. Notably, AM Best maintains a stable market segment outlook for MPL insurance, supported by factors like improved rate adequacy and persistent excess loss reserves, which have spurred higher reinvestment rates and bolstered returns.
The session will feature a panel of key industry figures, including Sharon Marks and Vicky Riggs from AM Best; Robert White, President of The Doctors Company and TDC Group; Eric Anderson, Interim President and CEO of the MPL Association; and Megan Sullivan-McIntyre, who leads the Medical Malpractice team at TransRe. Their combined expertise will provide a multifaceted view of the MPL landscape, addressing recent financial results and exploring future prospects.
AM Best’s forthcoming event underscores the importance of MPL insurance in the broader medical industry. MPL insurance is crucial for healthcare professionals, protecting them against claims of medical negligence which might occur in the course of delivering care. As healthcare delivery evolves, especially in response to technological advancements and changing patient expectations, MPL insurance must adapt to these new circumstances.
The analysis of current underwriting and loss trends discussed in the briefing will be vital for stakeholders across the medical and insurance sectors. The insights gathered could influence how policies are written, premiums are calculated, risk is managed and how proactive measures are implemented to mitigate potential losses.
Additionally, understanding regulatory developments is key in navigating this complex landscape, particularly as they can significantly impact how MPL insurers operate and how policies are enforced.
This event is not only a platform for learning and exchanging ideas but also an opportunity for industry professionals to engage directly with leading experts. Participants are encouraged to submit questions and engage in discussions, making this a participatory event suited to the needs of a diverse audience from across the insurance and healthcare industries.
For professionals involved in or impacted by MPL insurance, this briefing will offer an invaluable snapshot of the sector’s current state and emerging trends. It may also guide strategies for adapting to the evolving healthcare landscape, ensuring they remain resilient in a dynamic regulatory and risk environment.
With registration open to the public, participants can sign up online to secure a spot in this significant industry event. AM Best also ensures inclusivity and broad access by providing a video and audio stream of the discussions, with playback available post-event for registered attendees. This approach highlights the organization’s commitment to enhancing understanding and disseminating knowledge across the global insurance community.