The Healthcare Liability Market Is Changing. What Risk Managers Need to Know
White Paper Summary
It’s been a buyer’s market for healthcare liability insurance for the past decade or so. Hospitals and health systems have consistently enjoyed broad terms and conditions and declining or steady rates.
But a convergence of factors is ushering in a firming market, and risk managers should know what to expect.
“It’s time to prepare for an adjustment in the marketplace,” said Tyler Coleman, Senior Vice President and Head of Healthcare North America at Swiss Re Corporate Solutions. “Times are changing relative to what buyers have been accustomed to, which is year-over-year rate decreases and broad terms. And when things do change, they change abruptly.”
Increasing exposures, rising loss severity and reduction of capacity are some of the trends that are hitting the market.
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