Summary
The volatility of the medical malpractice insurance marketplace is a constant and is likely to remain so, despite occasional periods of respite from the plethora of lawsuits that often dominate the arena. Although medical malpractice is a relatively minor part of the property and casualty insurance business - in 2003, the industry reported net premium volume of just under $9 billion compared to a total of nearly $415 billion in US property/casualty insurance premiums written, according to Conning & Co. - the line has captured an enormous amount of political and social attention over the past three decades and more. Despite all this volatility, the recent report from Conning, titled Medical Malpractice: New Opportunities Emerging? Or the Eye of the Hurricane, indicates that there is good news for medical malpractice insurers on the horizon, at least in the short term. Authored by Stephan Christiansen, director of research at Conning Research & Consulting, the report says that, despite the dismal performance of the medical malpractice line over the last few years, the line will again be profitable in 2006, although there are pockets where problems still exist.
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Extract
Good News for Med Mal-for Now
(Editor's note: For further analysis of today's medical malpractice market, and where it might be heading, see article on page 24.)
The volatility of the medical malpractice insurance marketplace is a constant and is likely to remain so, despite occasional periods of respite from the plethora of lawsuits that often dominate the arena. Although medical malpractice is a relatively minor part of the property and casualty insurance business-in 2003, the i...See the full content of this document
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