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HPL Benchmarking: Do the Numbers Lie?

HPL Benchmarking: Do the Numbers Lie?. HPL Benchmarking: Do the Numbers Lie?. Moderator: Robert Allen, Senior Vice President, Healthcare, Torus Insurance Panelists: Erik A. Johnson, FCAS, MAAA, Associate Director & Actuary, Aon Global Risk Consulting

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HPL Benchmarking: Do the Numbers Lie?

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  1. HPL Benchmarking: Do the Numbers Lie? Chicago, IL ~ March 18 & 19, 2010

  2. HPL Benchmarking: Do the Numbers Lie? Moderator: Robert Allen, Senior Vice President, Healthcare, Torus Insurance Panelists: Erik A. Johnson, FCAS, MAAA, Associate Director & Actuary, Aon Global Risk Consulting Peter Schultheiss, FCAS, Division Actuary & Vice President, Zurich North America Andrew Shapiro, JD, Senior Vice President, HealthPro, CNA Paul Voller, Partner, Lloyd & Partners Limited

  3. HPL Benchmarking • Medical Malpractice Results • Illustration of Ultimate Loss Ratios For Illustrative Purposes Only: 2007 and 2008 Ultimate Loss Ratios

  4. HPL Benchmarking • Medical Malpractice Results • 2008 Loss & Expense Ratios 2008 Florida Medical Malpractice Financial Information

  5. HPL Benchmarking Aon/ASHRM Hospital Professional Liability & Physician Liability 2009 Benchmark Analysis

  6. HPL Benchmarking • Aon/ASHRM Benchmarking Study • Methodology (# claims, # years, exposure) • Trends Analyzed • Never Events • Frequency • Severity • Hospitals • Physicians

  7. HPL Benchmarking FREQUENCY

  8. HPL Benchmarking • Aon/ASHRM HPL Benchmarking Study - Overall Frequency per Bed 2009 Aon/ASHRM Hospital Professional Liability & Physician Liability Benchmark Analysis

  9. HPL Benchmarking • Aon/ASHRM HPL Benchmarking Study - Frequency per 10,000 Births 2009 Aon/ASHRM Hospital Professional Liability & Physician Liability Benchmark Analysis

  10. HPL Benchmarking SEVERITY

  11. HPL Benchmarking • Aon/ASHRM HPL Benchmarking Study – Overall Claim Severity Limited to $2M 2009 Aon/ASHRM Hospital Professional Liability & Physician Liability Benchmark Analysis

  12. HPL Benchmarking • Aon/ASHRM HPL Benchmarking Study – Closed Claim Analysis of Indemnity Payments • HPL Avg. Paid Indemnity @ $2M NPDB Avg. Paid Indemnity Unlimited 2009 Aon/ASHRM Hospital Professional Liability & Physician Liability Benchmark Analysis

  13. HPL Benchmarking • Aon/ASHRM Benchmarking Study Findings - For-Profit vs. Not-for-Profit 2009 Aon/ASHRM Hospital Professional Liability & Physician Liability Benchmark Analysis

  14. HPL Benchmarking • CNA AGING SERVICES STUDY • 8,000 Claims Across a 5-Year Period • For-profits have higher frequency; gap is closing • Severity Gap is Non-Existent • Facility and Cause of Loss Trends • Most severe injuries are death, sexual assault, amputation, and pressure ulcer

  15. HPL Benchmarking • Benchmarking Study Findings Bed Size Loss Cost per Bed @ $2M 2009 Aon/ASHRM Hospital Professional Liability & Physician Liability Benchmark Analysis

  16. HPL Benchmarking STATE REPORTS

  17. HPL Benchmarking • Missouri 2008 Medical Malpractice Insurance Report

  18. HPL Benchmarking • 2008 Pennsylvania Court Statistics

  19. HPL Benchmarking • 2008 Pennsylvania Medical Malpractice Case Filings: 2000 - 2008

  20. HPL Benchmarking WHAT’S NEXT?

  21. HPL Benchmarking • The Future of Benchmarking • Underwriting/Brokerage Strategy? • Rate Making? • 50 States Collecting Data? • More Facility-Closed Claim Studies? • CMS Quality Indicators?

  22. HPL Benchmarking: Do the Numbers Lie? Chicago, IL ~ March 18 & 19, 2010

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